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Property profile & analytics
OFF-MARKET
Estimated value
$1,240,000
Garden apartment buildings
10880 Barker Cypress Rd 228 Cypress, TX 77433-3050
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US82-2899061
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2008
Construction
FRAME
Total area
45,873 SF
Lot
11.75 ac (511,908 SF)
APN
1318570010001
UPID
US82-2899061
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
-
Apartment Network Corporation Apartment Building
-
handmade texas Production Facility
-
FNA360 Advertising Agency Marketing & Advertising
-
Waterford Place at Riata Ranch Apartments Apartment Building Apartment Complex
-
Amigo Websites Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.24M
Owner & transaction history
Sir Waterford Riata LLC · 12 yrs held
Sir Waterford Riata LLC
since 2013
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.0M
+5.9%
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 Cypress submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cypress 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
$1,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,905,000
Current use
WAREHOUSE, STORAGE
$2,020,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±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
$27 / 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
$218,588
Tax year 2022
Assessed value
$27,093,703
Assessed 2024
Previous assessed
$31,815,432
-14.8% YoY
Effective rate
0.81%
On assessed value
Assessed land
$5,119,100
Assessed improvement
$21,974,603
Land market value
$5,119,100
Improvement market value
$21,974,603
Total market value
$27,093,703
Applied tax rate
4.0000
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
2008
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
10
Stories
3
Total area
45,873 SF
Lot
11.75 ac (511,908 SF)
APN
1318570010001
UPID
US82-2899061
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
$1.9M
WAREHOUSE, STORAGE
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
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
2008
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
10
Lot
11.75 ac
Current owner
From public records · entity-resolved
Sir Waterford Riata LLC
Entity
Mailing address
PO BOX 530292, BIRMINGHAM, AL 35253-0292
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2020
—
Sir Waterford Riata LLC
—
Deed
related
$79,170,000 · Pnc Bk
Jun 29, 2016
—
Sir Waterford Riata LLC
—
Deed
related
$17,395,000 · Pnc Bk
Oct 11, 2013
—
Sir Waterford Riata LLC
Tel La Riata Ranch LLC
Special Warranty Deed
—
Sep 2, 2011
—
Tel-la Riata Ranch LLC
Stick Barker LLC
Grant Deed
related
—
—
—
Sir Waterford Riata LLC
—
Deed Of Trust
related
$79,170,000 · Pnc Bk
—
—
Sir Waterford Riata LLC
—
Deed Of Trust
related
$17,395,000 · Pnc Bk
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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