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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Residential income homes
798 Spruce Ave Clovis, CA 93611-0382
Individually Owned
18-yr Hold
Absentee Owner
Property ID
US09-5595733
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1995
Construction
WOOD
Total area
3,314 SF
Lot
0.29 ac (12,636 SF)
Zoning code
R2
APN
562-240-13
UPID
US09-5595733
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
$750k
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$545k
Owner & transaction history
David Pitman · 18 yrs held
David Pitman
since 2007
Last sale
$545,000
3 recorded transactions
Zoning & alternative use
R2 · Clovis, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$845,000
+86.9%
Medical building
$645,000
+43.2%
Auto repair, garage
$485,000
+7.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Clovis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clovis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$545,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$750,000
7%
$695,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$450,000
Current use
RETAIL STORES
$845,000
Change: +87% · Conversion: Difficult
MEDICAL BUILDING
$645,000
Change: +43% · Conversion: Moderate
AUTO REPAIR, GARAGE
$485,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $545k (Jun 17 2024)
Last sale anchor
$545k
Jun 17 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$164 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,457
Tax year 2023
Assessed value
$688,060
Assessed 2023
Previous assessed
$688,060
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$138,870
Assessed improvement
$549,190
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1995
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
1
Units
3
Bathrooms
6
Total area
3,314 SF
Lot
0.29 ac (12,636 SF)
Zoning code
R2
APN
562-240-13
UPID
US09-5595733
Jurisdiction
FRESNO
Zoning & alternative use
R2 · Clovis, CA
Zoning R2 · permitted uses
R2 · Clovis, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Clovis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$450,000
RETAIL STORES
Est. value
$845,000
MEDICAL BUILDING
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$485,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
3
Bathrooms
6
Lot
0.29 ac
Current owner
From public records · entity-resolved
David Pitman
Individual
Mailing address
337 W JORDAN AVE, CLOVIS, CA 93611-7182
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2007
$545,000
David Pitman
Ferrari Linda H Trust
Grant Deed
$428,000 · Gmac Mortgage LLC
Aug 29, 2005
—
Ferrari Linda H Trust
Ferrari,linda
Quit Claim Deed
related
—
—
—
David Pitman
—
Deed Of Trust
related
$374,200 · Ally Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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