New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,290,000
Garden apartment buildings
1009 Richey St 228 Pasadena, TX 77506-4247
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-4319346
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
23,352 SF
Lot
5.55 ac (241,802 SF)
APN
281770000004
UPID
US82-4319346
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
Current use
Occupant on record · Public records
-
Raintree Apartments Apartment Complex
-
P and H Notary and Paralegal Services Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.68M
Comparable Approach
Comparable
$2.90M
Blend (final)
Blend
$3.29M
Owner & transaction history
Amg Raintree LLC · 11 yrs held
Amg Raintree LLC
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.3M
+102.9%
Restaurant
$3.2M
+51.6%
Auto repair, garage
$2.9M
+40.2%
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,985,000
6.5%
$3,680,000
7%
$3,415,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,100,000
Current use
COMMERCIAL (GENERAL)
$4,265,000
Change: +103% · Conversion: Moderate
RESTAURANT
$3,185,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,945,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$2,440,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$3.29M
Range $2.96M – $3.62M · ±10%
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
$141 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$185,191
Tax year 2022
Assessed value
$17,749,468
Assessed 2024
Previous assessed
$16,290,540
+9.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,450,812
Assessed improvement
$16,298,656
Land market value
$1,450,812
Improvement market value
$16,298,656
Total market value
$17,749,468
Applied tax rate
21.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1972
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
14
Stories
3
Rooms
2
Bathrooms
1
Total area
23,352 SF
Lot
5.55 ac (241,802 SF)
APN
281770000004
UPID
US82-4319346
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$4.3M
RESTAURANT
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
RETAIL STORES
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1972
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
14
Rooms
2
Bathrooms
1
Lot
5.55 ac
Current owner
From public records · entity-resolved
Amg Raintree LLC
Entity
Mailing address
11777 KATY FWY STE #103, HOUSTON, TX 77079-1705
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2016
—
Amg Raintree LLC
—
Deed
related
$6,100,000 · Berkeley Point Cap
Jun 23, 2015
—
Amg Raintree LLC
Hantman Joseph
Grant Deed
$4,203,750 · Great Sthrn Bk
—
—
Amg Raintree LLC
—
Deed Of Trust
related
$6,100,000 · Berkeley Point Cap
—
—
Joseph M Hantman
—
Deed Of Trust
related
$1,000,000 · Citibank Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1009 Richey St, Unit 228?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
