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Property profile & analytics
OFF-MARKET
Estimated value
$2,495,000
Garden apartment buildings
12211 Summer Crk Trce Dr 278 Houston, TX 77044-2197
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-0838840
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2022
Construction
METAL FRAME
Total area
24,126 SF
Lot
11.44 ac (498,326 SF)
APN
1288890030001
UPID
US83-0838840
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$2.50M
Owner & transaction history
Teal 2 O LLC · 3 yrs held
Teal 2 O LLC
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+61.7%
Auto repair, garage
$2.3M
+49.3%
Office building
$1.7M
+11.3%
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
APARTMENT HOUSE (5+ UNITS)
$1,510,000
Current use
RESTAURANT
$2,440,000
Change: +62% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,250,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$1,680,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$1,540,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$2.50M
Range $2.25M – $2.74M · ±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
$103 / 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
$146,705
Tax year 2022
Assessed value
$40,230,527
Assessed 2024
Previous assessed
$22,826,674
+76.2% YoY
Effective rate
0.36%
On assessed value
Assessed land
$4,911,260
Assessed improvement
$35,319,267
Land market value
$4,911,260
Improvement market value
$35,319,267
Total market value
$40,230,527
Applied tax rate
18.0000
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
2022
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
13
Total area
24,126 SF
Lot
11.44 ac (498,326 SF)
APN
1288890030001
UPID
US83-0838840
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
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
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
2022
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
13
Lot
11.44 ac
Current owner
From public records · entity-resolved
Teal 2 O LLC
Entity
Free & Clear · 3 yrs held
Mailing address
4500 BISSONNET ST STE #200, BELLAIRE, TX 77401-3113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
May 5, 2023
—
Teal 2 O LLC
Westlake Residential Propco LLC
Agreement Of Sale
—
Apr 13, 2023
—
Teal 2 0 LLC
Westlake Residential Propco LLC
Agreement Of Sale
—
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
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