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    Lakefront Residential Development Lot Title is generated by Realmo AI

    Lot 31 & 31A, Quitman, TX 75783

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    Claim this Listing
    For Sale
    $270,000

    LAND - Quitman, TX

    Lot size:
    1.62 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    42
    Last Refresh:
    Jun 3 at 3:06 pm

    Property Features for Lot 31 & 31A

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R145601
    Lot size
    1.62 Acres

    Taxes and HOA fees

    Tax Description
    LOT 31 BLK 1 .66 FISHERMAN'S BAY
    Tax Annual Amount
    1877

    Utilities

    Sewer type
    Septic Tank
    Water front features
    Waterfront, Lake Front
    Water front
    1

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Alan Adams

    Listing agent Alan Adams License #0589273

    Listing office Ai Group Realty Addison, TX

    Listing date Apr 23, 2026

    MLS# 21248186 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

    • 1.66‑acre property on Lake Fork includes Lots 31 and 31A
    • 170 feet of waterfront on Lake Fork (lake front)
    • Water and electric already in place for easier site planning
    • 2023 development; sewer service via septic tank
    • Just a 1.5‑hour drive east of Dallas

    Overview

    This for-sale waterfront land offering includes Lots 31 and 31A, totaling approximately 1.62 acres along Lake Fork. The property features about 170 feet of waterfront and is positioned to capture long lake views. Water and electric are already in place, reducing the initial steps needed to start planning a primary residence or a weekend retreat.

    Situated in Quitman, Texas in Wood County, the site is described as being about 1.5 hours east of Dallas. The listing highlights the community’s lakeside setting and emphasizes the property’s rare size and combined-lot configuration, factors that can matter when tailoring a home site around waterfront placement and usable outdoor space.

    For buyers seeking a straightforward path to development, the presence of water and electric paired with meaningful frontage makes this property well suited for a custom build on one or both lots. Outdoor-focused purchasers and anglers may also value the direct Lake Fork access and the setting’s reputation for bass fishing, especially for those looking to spend more time on the water from home.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Quitman
    County
    Wood
    State
    Texas
    Longitude
    -95.4510641
    Latitude
    32.7959605

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    FAQs

    What type of property is this?
    Waterfront Land - Build-ready Lake Fork waterfront acreage with utilities in place and two combined lots for added flexibility.
    Where is this waterfront land located?
    The property is located at Lot 31 & 31A Quitman, TX.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: 1.66‑acre property on Lake Fork includes Lots 31 and 31A; 170 feet of waterfront on Lake Fork (lake front); Water and electric already in place for easier site planning
    (214) 714-8884
    We can help!
    Listing Contact
    Alan Adams
    Real Estate License ID: 0589273
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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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