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    724 Ann Ave Dallas, TX 75223-2663
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    Property profile & analytics

    724 Ann Ave, Dallas, TX 75223-2663

    View on Map
    • Apartment buildings
    • 9,224 SF
    • 0.31 lot acres
    Off-Market
    Property ID
    US83-3545499
    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
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 724 Ann Ave

    Year built
    1971
    Construction
    FRAME
    Lot size
    0.31 lot acres
    Zone code
    Z46
    Property type
    Apartment buildings
    APN
    140450000000
    APU
    140450000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 28, 2018 — 724 & 809 Ann Apartments LLC Stewardship Properties LLC Warranty Deed $1.9M · Arbor Agcy Lndg LLC
    Sep 6, 2011 — Stewardship Properties LLC City Natl Bk Grant Deed $250k · Pamela J Perryman
    May 6, 2008 $350,000 Imperial Capital Bank Meyer Scott R Trustees Deed · related —
    Jul 13, 2005 — Chris A Hansen Ambjornsen Warranty Deed $664k · Lasalle National Bank
    — — Stewardship Properties LLC — Deed Of Trust · related $150k · Amy Seery
    — — Stewardship Properties LLC — Deed Of Trust · related $100k · Amy Seery
    — — Stewardship Properties LLC — Deed Of Trust · related $305k · Lawrence Capital LLC
    — — Stewardship Properties LLC — Deed Of Trust · related $100k · Sullivan Debra A Trust (pt)
    — — Stewardship Properties LLC — Deed Of Trust · related $450k · Jesse Seery

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $875,000
      Market price range: $380k - $1.04M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $790,000
      Current use
      WAREHOUSE, STORAGE
      $940,000
      Change: +19% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $680,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7636
    Latitude
    32.7872
    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
    $21,418
    $134,000
    $799,330
    $933,330
    -
    $134,000
    $799,330
    $933,330

    Comparable in this City

    • Value Estimation
      $1,895,000
      14,832 SF

      4538 Gurley Ave

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
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      61,540 SF

      1315 Barry Ave

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation by Request
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      1304 Fitzhugh Ave

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      4814 Parry Ave

      APARTMENT HOUSE (5+ UNITS)
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      3247 Fairview Ave

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation by Request
      2,740 SF

      5401 Lindsley Ave

      APARTMENT HOUSE (5+ UNITS)
      5401 Lindsley Ave, Dallas, TX 75223-1852
      View Details

    Similar Nearby for Sale

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      Two contiguous lots with duplex and vacant land.
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    • $1,298,000
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    • $375,000
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      Duplex Designed for Short-Term Stays

      A duplex currently operating as an Airbnb with a flexible 1BR/1BA and 2BR/1BA setup.
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    • $325,000
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      True Triplex with Separate Utilities

      Three-meter triplex offered as-is, ideal for investors seeking rental income and rehab potential in Dallas.
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      Value-add triplex positioned for rental income, with an alternative strategy to renovate and resell.
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    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Industrial Flex Space Available

      20,000 SF flex space with easy highway access.
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    • Contact for pricing

      Land For Rent Dallas

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    • $22 SF/Yr
      1,424 SF

      Standalone Medical Office Building

      Standalone medical-ready building with high visibility and convenient highway access for professional services.
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    • Contact for pricing
      5,148 SF

      Freestanding Building for Lease

      5,148 sqft freestanding building suitable for retail, bar, or medical.
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      2,850 SF

      East Dallas Retail/Restaurant Space

      Retail or restaurant space with high visibility in East Dallas.
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      View Details
    • Contact for pricing
      2,511 SF

      Retail Space with I-30 Frontage

      Retail space with excellent visibility and easy highway access.
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      View Details
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    724 Ann Ave
    Dallas, TX 75223-2663
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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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