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    371 24Th St Paris, TX 75460
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    Property profile & analytics

    371 24Th St, Paris, TX 75460

    View on Map
    • Commercial real estate
    • 1,260 SF
    • 0.17 lot acres
    Off-Market
    Property ID
    US82-6329604
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 371 24Th St

    Lot size
    0.17 lot acres
    Property type
    Commercial real estate

    Description

    This charming 3-bedroom, 2-bathroom home is situated on a 0.17-acre lot in southeast Paris, Texas, at 371 24th Street SE, zip code 75460. The property boasts 1,260 square feet of living space and has undergone a complete remodel and update, showcasing modern features and an open living concept. A desirable addition is a newly installed bay window, enhancing the home's aesthetic appeal and natural light. Convenience is a key feature, with its proximity to local shopping, dining establishments, and Paris Junior College. The property also includes a substantial 33 x 14 foot covered parking area, providing ample shelter for vehicles. The asking price for this move-in ready home is $169,000. This property presents a fantastic opportunity for comfortable living in a desirable location. The property is classified as residential land. Located in Lamar County, this home offers a blend of modern updates and convenient access to local amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Lamar
    State
    Texas
    Longitude
    -95.530899
    Latitude
    33.658408

    Comparable in this City

    • $114,500
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      Prime Paris, TX Development Land

      5 Acres, Mixed-Use Potential
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      Paris, Texas Multifamily Property

      16-unit multifamily property with recent renovations in Paris, Texas.
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    • $249,000
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      Multi-Family Residential Investment Package

      Eight homes on 1.3 acres offer renovation or new-build potential with road frontage on three sides for expansion.
      1138 Fitzhugh Ave, Paris, TX 75460
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    • $249,900
      1,680 SF

      New Construction Duplex Investment

      Turnkey, newly completed duplex on a corner lot with two identical 2-bedroom units and in-unit washer-dryer hookups.
      1235 E Houston St NE, Paris, TX 75460
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    • New
      $4,900,000

      Multifamily Apartment Building

      Income-focused residential property for sale in Paris, Texas, offering an opportunity to build long-term rental returns.
      4515 Loop 286 SE, Paris, TX 75460
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    • $274,000
      0.39 Acres

      Residential Income Property Portfolio

      In-town single-story rental homes offer an investor-friendly way to grow a portfolio with manageable, easy-to-maintain units.
      2032 E Price St, Paris, TX 75460
      View Details

    Similar Nearby for Sale

    • $114,500
      5.00 Acres

      Prime Paris, TX Development Land

      5 Acres, Mixed-Use Potential
      0 Old Jefferson Rd, Paris, TX 75460
      View Details
    • New
      $4,900,000

      Multifamily Apartment Building

      Income-focused residential property for sale in Paris, Texas, offering an opportunity to build long-term rental returns.
      4515 Loop 286 SE, Paris, TX 75460
      View Details
    • Contact for pricing

      Paris, Texas Multifamily Property

      16-unit multifamily property with recent renovations in Paris, Texas.
      625 Bonham St, Paris, TX 75460
      View Details
    • $249,900
      1,680 SF

      New Construction Duplex Investment

      Turnkey, newly completed duplex on a corner lot with two identical 2-bedroom units and in-unit washer-dryer hookups.
      1235 E Houston St NE, Paris, TX 75460
      View Details
    • $249,000
      1.30 Acres

      Multi-Family Residential Investment Package

      Eight homes on 1.3 acres offer renovation or new-build potential with road frontage on three sides for expansion.
      1138 Fitzhugh Ave, Paris, TX 75460
      View Details
    • $274,000
      0.39 Acres

      Residential Income Property Portfolio

      In-town single-story rental homes offer an investor-friendly way to grow a portfolio with manageable, easy-to-maintain units.
      2032 E Price St, Paris, TX 75460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,700 SF

      Retail Space in Paris, Texas

      5700 SF retail space available for lease.
      450 SW 4Th St, Paris, TX 75460
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      2,000 SF

      Paris Office Space For Rent

      Well-located commercial office space off Loop 286 in Paris.
      870 Loop 286 NE, Paris, TX 75460
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      33,958 SF

      Retail Spaces in Williamsburg Center

      Multiple retail spaces available in established shopping center.
      1455 Clarksville St, Paris, TX 75460
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    • $15 SF/Yr
      293,594 SF

      Shopping Center Retail Suites

      Multiple retail units with owner-supported finish-out options inside a center anchored by well-known national tenants.
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      View Details
    • Contact for pricing

      New Construction Retail Space Available

      New construction retail and restaurant spaces with drive-thru.
      2500 Lamar Ave, Paris, TX 75460
      View Details
    • Contact for pricing

      Restaurant with Drive-Thru Opportunity

      Freestanding restaurant with drive-thru, near Paris Town Center.
      3415 Lamar Ave, Paris, TX 75460
      View Details
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    Paris, TX 75460
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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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