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    Historic Corner Home with Covered Porch Title is generated by Realmo AI

    400 S Washington Street, Pilot Point, TX 76258

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    Claim this Listing
    Pending
    $364,900

    COMMERCIAL - Pilot Point, TX

    Lot size:
    0.51 Acres
    Added:
    Jun 20, 2025
    Days on Market:
    352
    Last Refresh:
    Jun 5 at 11:06 pm

    Property Features for 400 S Washington Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Carport
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Pending
    APN
    R39968
    Lot size
    0.51 Acres

    Taxes and HOA fees

    Tax Description
    WHITE BLK 29 LOT 1(N125' OF E174') LOT 1(N125
    Tax Annual Amount
    5969

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1879
    Floors in Building
    2
    Flooring type
    Vinyl, Carpet, Laminate, Hardwood
    Building materials
    AluminumSiding, VinylSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    SHERRY ADAMS
    SHERRY ADAMS

    Listing agent SHERRY ADAMS License #0528566

    Listing office Real T Team by eXp Austin, TX

    Listing date Jun 20, 2025

    MLS# 20570039

    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

    • Built in 1879 with aluminum and/or vinyl siding and a composition roof
    • Four bedrooms and two bathrooms
    • Hardwood floors plus vinyl, laminate, and carpet flooring
    • Central heating (natural gas) and central air with ceiling fans
    • Covered front porch and transom windows with tall ceilings
    • Accessible approach with ramp; public water and public sewer; carport; large half‑acre corner lot

    Overview

    This historic single-family home was built in 1879 and presents old-world character with hardwood floors, transom windows, and tall ceilings. The layout includes four bedrooms and two bathrooms, complemented by a covered front porch that helps set the tone for the home’s inviting exterior.

    Located at 400 S Washington Street in Pilot Point, Texas, the property sits on a large half-acre corner lot (0.511 acres). The corner placement provides additional flexibility for how you approach the home and use the outdoor space.

    With its distinctive period details and established room configuration, the home should appeal to buyers seeking a residence with character as well as those considering a residential income strategy. The four-bedroom, two-bath design can support a variety of day-to-day living arrangements, while the corner lot offers outdoor space that may be attractive for tenants or homeowners who want room to spread out.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ole' Peter's Boarding ... Hotel & Motel Peter's Boarding House Department Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pilot Point
    County
    Denton
    State
    Texas
    Longitude
    -96.961667
    Latitude
    33.393186

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    FAQs

    What type of property is this?
    Single family property - Built in 1879 with hardwood floors and a covered front porch, offering classic character on a corner lot.
    Where is this single family property located?
    The property is located at 400 S Washington Street Pilot Point, TX.
    What is the asking price?
    The asking price for this property is $364,900.
    What are key features of this property?
    This property features: Built in 1879 with aluminum and/or vinyl siding and a composition roof; Four bedrooms and two bathrooms; Hardwood floors plus vinyl, laminate, and carpet flooring
    (888) 519-7431
    We can help!
    Listing Contact
    SHERRY ADAMS
    SHERRY ADAMS
    Real Estate License ID: 0528566
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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.

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