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    Cleared Dual-Street Access Lot Title is generated by Realmo AI

    2987 Clovis Avenue, Dallas, TX 75233

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    Claim this Listing
    New
    For Sale
    $145,000

    LAND - Dallas, TX

    Lot size:
    0.38 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 2987 Clovis Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    00000611251000000
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Description
    ACREAGE ESTATES NO 2 BLK 4/6624 S 50FT PT LT
    Tax Annual Amount
    1689

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Yuri Barrera

    Listing agent Yuri Barrera License #0481643

    Listing office Ultima Real Estate Dallas, TX

    Listing date Jun 3, 2026

    MLS# 21289805 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Cleared lot measuring 50' x 327' with dual street access/frontage on Clovis Avenue and El Tovar Avenue
    • Utilities available and public water and public sewer (Public Sewer) service
    • No demolition required for development
    • Quick connectivity to I‑20, I‑35E, and Loop 12 for commutes to major employment centers
    • City of Dallas subdivision potential to be verified for up to two desirable home sites

    Overview

    This cleared land lot offers a straightforward development canvas with a 50' x 327' footprint and highly desirable dual street access. The parcel is ready for buildout with utilities available and no demolition required, giving developers and builders a clean starting point for their next design. Dual frontage can also support practical layout options depending on how an end use is planned.

    Located in Dallas within the Oak Cliff area, the property benefits from convenient connectivity to major routes, including nearby I-20, I-35E, and Loop 12. The surrounding area is positioned for growth and lifestyle appeal, with access to Downtown Dallas and the Bishop Arts District’s dining and entertainment. Outdoor recreation is also within reach via Mountain Creek Lake, and Dallas National Golf Club is nearby.

    The site should appeal to builders looking for a spec home location with strong flexibility, as well as investors interested in a land play in a high-demand neighborhood. If subdivision or multiple-home configurations are part of the plan, buyers should verify options directly with the City of Dallas. With two desirable street frontages and an easy-to-work-with parcel profile, this opportunity is well suited for anyone seeking a custom build opportunity that can accommodate outdoor living features.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.87804
    Latitude
    32.711927

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    FAQs

    What type of property is this?
    Residential land & home lot - A cleared development parcel with frontage on two streets, offering flexibility for future homes or investment strategy.
    Where is this residential land & home lot located?
    The property is located at 2987 Clovis Avenue Dallas, TX.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Cleared lot measuring 50' x 327' with dual street access/frontage on Clovis Avenue and El Tovar Avenue; Utilities available and public water and public sewer (Public Sewer) service; No demolition required for development
    (972) 980-9393
    We can help!
    Listing Contact
    Yuri Barrera
    Real Estate License ID: 0481643
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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