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Property profile & analytics
OFF-MARKET
Estimated value
$2,290,000
Garden apartment buildings
10202 Challenger 7th Dr 123 Houston, TX 77029-2019
Individually Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-3172763
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
15,372 SF
Lot
3.16 ac (137,493 SF)
APN
432110000390
UPID
US82-3172763
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
-
Jacinto Palms Apartments Apartment Complex
-
Leo Foster Field Park
-
Non-Medical Home Health Care Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.68M
Comparable Approach
Comparable
$1.91M
Blend (final)
Blend
$2.29M
Owner & transaction history
Brite 10202 Challenger 7 Investors · 8 yrs held
Brite 10202 Challenger 7 Investors
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+95.4%
Retail stores
$1.5M
+3.7%
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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%
$2,905,000
6.5%
$2,680,000
7%
$2,490,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,485,000
Current use
COMMERCIAL (GENERAL)
$2,895,000
Change: +95% · Conversion: Moderate
RETAIL STORES
$1,540,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$2.29M
Range $2.06M – $2.52M · ±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
$149 / 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
$243,776
Tax year 2022
Assessed value
$10,324,499
Assessed 2024
Previous assessed
$11,650,000
-11.4% YoY
Effective rate
2.36%
On assessed value
Assessed land
$618,710
Assessed improvement
$9,705,789
Land market value
$618,710
Improvement market value
$9,705,789
Total market value
$10,324,499
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
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
8
Stories
2
Rooms
1
Bathrooms
1
Total area
15,372 SF
Lot
3.16 ac (137,493 SF)
APN
432110000390
UPID
US82-3172763
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
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.9M
RETAIL STORES
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
2
Buildings
8
Rooms
1
Bathrooms
1
Lot
3.16 ac
Current owner
From public records · entity-resolved
Brite 10202 Challenger 7 Investors
Individual
Free & Clear · 8 yrs held
Mailing address
603 E BROADWAY ST, PROSPER, TX 75078-2943
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2018
—
Brite 10202 Challenger 7 Investors
Gem Jacinto Palms LLC
Venders Lien
—
Jan 28, 2016
—
Gem Jacinto Palms LLC
Vc Jacintopalms LLC
Venders Lien
$5,073,750 · Homestreet 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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