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    2007 Ervay St Dallas, TX 75215-2182
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    Property profile & analytics

    2007 Ervay St, Dallas, TX 75215-2182

    View on Map
    • Apartment buildings
    • 12,250 SF
    • 0.76 lot acres
    Off-Market
    Property ID
    US82-0346234
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $800,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TCWE Stylist / Hair Salon
    • Thru Way Corporation / Freight Service / Trucking Company
    • Reaves Brokerage Co / Grocery & Convenience Store / Food Market

    Property Details for 2007 Ervay St

    Year built
    1926
    Construction
    FRAME
    Lot size
    0.76 lot acres
    Zone code
    Z239
    Property type
    Apartment buildings
    APN
    132874000000
    APU
    132874000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 18, 2003 — Cedars Park Lofts LP Cedar Park Jv Quit Claim Deed · related $578k · Oaks Bank & Trust Co
    — — Cedar Park Lofts LP — Deed Of Trust · related $40k · Cedar Park Jv
    — — Cedars Park Lofts LP — Deed Of Trust · related $750k · Prosperity Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,056,000
      Market price range: $444k - $1.09M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $765,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,040,000
      Change: +36% Conversion: Difficult
      MEDICAL BUILDING
      $830,000
      Change: +8% Conversion: Moderate
      OFFICE BUILDING
      $805,000
      Change: +5% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7861
    Latitude
    32.7689
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,963
    $1,154,090
    $325,910
    $1,480,000
    -
    $1,154,090
    $325,910
    $1,480,000

    Comparable in this City

    • Value Estimation
      $8,015,000
      72,132 SF

      1818 Park Ave

      APARTMENT HOUSE (5+ UNITS)
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      View Details
    • Value Estimation
      $2,805,000
      95,168 SF

      2929 Park Row Ave

      APARTMENT HOUSE (5+ UNITS)
      2929 Park Row Ave, Dallas, TX 75215
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    • Value Estimation by Request
      3,112 SF

      1824 Ss Blvd

      APARTMENT HOUSE (5+ UNITS)
      1824 Ss Blvd, Dallas, TX 75215-2879
      View Details
    • Value Estimation
      $500,000
      7,252 SF

      5210 Bexar St

      APARTMENT HOUSE (5+ UNITS)
      5210 Bexar St, Dallas, TX 75215-4928
      View Details
    • Value Estimation
      $890,000
      19,875 SF

      1818 Ervay St

      APARTMENT HOUSE (5+ UNITS)
      1818 Ervay St, Dallas, TX 75215-2021
      View Details
    • Value Estimation
      $550,000
      7,712 SF

      2727 Cleveland St

      APARTMENT HOUSE (5+ UNITS)
      2727 Cleveland St, Dallas, TX 75215-2739
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

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      Value-add multifamily property in a rapidly transforming Dallas neighborhood.
      2718 Cleveland St, Dallas, TX 75215
      View Details
    • $750,000
      4,890 SF

      Downtown Dallas Multifamily Investment Opportunity

      Six-unit multifamily property in downtown Dallas with value-add potential.
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      View Details
    • $180,000
      0.11 Acres

      Tenant-Occupied Duplex Investment

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    • $598,000
      0.12 Acres

      New Construction Duplex-Style Investment

      Two identical detached, fully fenced units offer flexible ownership options near downtown Dallas and major event venues.
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      View Details
    • $225,000
      Pending

      Boarding House with Renovation Potential

      Value-add boarding house offering 17 rooms and 5 baths, positioned for upside near key South Dallas destinations and I-45.
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      Townhomes in Dallas' Hottest Neighborhood

      Townhomes in thriving arts scene near downtown Dallas.
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    Similar Nearby for Lease

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      1,669 SF

      Retail Space in Revitalized Cedars

      Retail space in Dallas' Cedars neighborhood, near downtown and I-30.
      1108-1120 S Akard St, Dallas, TX 75215
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Dallas, Texas.
      1601 S Ervay St, Dallas, TX 75215
      View Details
    • Contact for pricing

      Retail and Restaurant Space Available

      Space in revitalized Dallas neighborhood near downtown and I-30.
      1110 S Akard St, Dallas, TX 75215
      View Details
    • $8,500 /Mo
      3,600 SF

      Retail Space on MLK Jr

      Retail space available for lease on Martin Luther King Jr.
      1619 Martin Luther King Jr Blvd, Dallas, TX 75215
      View Details
    • $5,000 /Mo
      9,888 SF

      Standalone Assembly & Event Space

      Open-concept standalone building suited for congregations, events, and creative or social programming with strong frontage.
      4500 Malcolm X Blvd, Dallas, TX 75215
      View Details
    • Contact for pricing
      12,425 SF

      Remodeled Flex Space with Skyline View

      Remodeled flex space with heavy power and downtown skyline view.
      1100 S Akard St, Dallas, TX 75215
      View Details
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    Dallas, TX 75215-2182
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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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