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Property profile & analytics
OFF-MARKET
Estimated value
$3,235,000
Garden apartment buildings
11881 Gulf Pointe Dr 312 Houston, TX 77089-2741
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-0106260
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2003
Construction
WOOD FRAME
Total area
31,043 SF
Lot
13.48 ac (587,058 SF)
APN
1237660010001
UPID
US82-0106260
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
-
JV Houston Plumbing Plumbing Service General Contractor
-
Sandra J. Johnson, LPC Counselor
-
Montelago Apartments Apartment Complex
-
STORAGECZAR Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.91M
Blend (final)
Blend
$3.24M
Owner & transaction history
Keener Montelago LLC · 5 yrs held
Keener Montelago LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.0M
+158.7%
Restaurant
$3.0M
+55.4%
Auto repair, garage
$2.9M
+49.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,020,000
Change: +159% · Conversion: Moderate
RESTAURANT
$3,015,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,895,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$2,160,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$1,980,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$3.24M
Range $2.91M – $3.56M · ±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
$104 / 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
$541,063
Tax year 2022
Assessed value
$37,944,000
Assessed 2024
Previous assessed
$45,070,780
-15.8% YoY
Effective rate
1.43%
On assessed value
Assessed land
$2,935,290
Assessed improvement
$35,008,710
Land market value
$2,935,290
Improvement market value
$35,008,710
Total market value
$37,944,000
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
2003
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
14
Stories
3
Total area
31,043 SF
Lot
13.48 ac (587,058 SF)
APN
1237660010001
UPID
US82-0106260
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
COMMERCIAL (GENERAL)
Est. value
$5.0M
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
2003
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
14
Lot
13.48 ac
Current owner
From public records · entity-resolved
Keener Montelago LLC
Entity
Free & Clear · 5 yrs held
Mailing address
700 LOUISIANA ST STE #4250, HOUSTON, TX 77002-2765
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2021
—
Keener Montelago LLC
Dpr Montelago LLC
Special Warranty Deed
—
Jun 27, 2014
—
Dpr Montelago LLC
Montelago Acquis 1 Covington
Trustees Deed
$24,000,000 · Cbre Multifamily Cap
Apr 14, 2014
—
Covington Montelago Acqui 27
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Jul 11, 2006
—
Arbors Acquisition 2 Covington
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Mar 22, 2006
—
Covington Montelago Acquisitio
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Mar 15, 2006
—
Covington Montelago Acqui 17
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Feb 14, 2006
—
Covington Montelago Acquisitio
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Feb 2, 2006
—
Covington Montelago Acquisit
Covington Montelago Acquisitio
Quit Claim Deed
related
—
Oct 31, 2005
—
Covington Montelago Acquisition LLC
Bellagio Investors LP
Special Warranty Deed
$17,400,000 · Prudential Mortgage Capital Co LLC
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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