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    Condo Near Shopping and Lake Title is generated by Realmo AI

    18519 Egret Bay Boulevard 1802, Houston, TX 77058

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    For Sale
    $159,000

    Condo with lake access, pools, and covered parking.

    Type:Condo/Townhome
    Property size:
    929 SF
    Lot size:
    3.08 Acres
    Price / SF:
    $171/SF
    Added:
    Mar 24, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 6 at 12:05 am

    Property Features for 18519 Egret Bay Boulevard 1802

    General Information

    Standard status
    Active
    Size
    929 SF
    Lot size
    3.08 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Dana Hilty

    Listing agent Dana Hilty License #0610773

    Listing office UTR TEXAS, REALTORS

    Listing date Mar 24, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of UTR TEXAS, REALTORS

    HighLights

    • Great location near shopping, restaurants, and entertainment.
    • Lake access via boat ramp for boats and jet skis.
    • Two covered parking spots with storage room.
    • Two balconies, one off the kitchen and one off the primary bedroom.
    • Granite counters in kitchen and baths.
    • Two pools and BBQ areas.

    Overview

    Located near shopping, restaurants, and entertainment, this property at 18519 Egret Bay Blvd #1802 features engineered wood floors and granite counters in the kitchen and baths. A gas fireplace is centered in the family room. The property includes two balconies, one off the kitchen and one off the primary bedroom. Mature trees are located throughout the property. Residents have access to the lake from the boat ramp for boats and jet skis, a picnic area, two pools, and BBQ areas. It also includes two covered parking spots with a storage room. The property offers convenient freeway access and is located near schools. The unit size is 929 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $20.4k $21.96
    − Vacancy −$1.3k −$1.36
    EGI $19.1k $20.60
    − OpEx −$8.6k −$9.27
    NOI $10.5k $11.33
    929 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $150.4K
    $131.6K – $175.4K (±1% cap)
    NOI $10,525 @ 7.0% cap · market cap 6.62%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $238.9K
    $209.0K – $278.7K (±1% cap)
    NOI $16,722 @ 7.0% cap · market cap 10.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lucky Elephant Accessories Corporate Office Down South Psychic Spiritual Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.0992178
    Latitude
    29.5401644

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    FAQs

    What type of property is this?
    Residential income property - Condo with lake access, pools, and covered parking.
    Where is this residential income property located?
    The property is located at 18519 Egret Bay Boulevard 1802 Houston, TX.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: Great location near shopping, restaurants, and entertainment.; Lake access via boat ramp for boats and jet skis.; Two covered parking spots with storage room.
    (281) 282-0935
    We can help!
    Listing Contact
    Dana Hilty
    Real Estate License ID: 0610773
    Request Owner's contact information
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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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