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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
High-rise multifamily apartments
150 Cobia Dr 329 Katy, TX 77494-6022
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-0357190
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2019
Construction
METAL FRAME
Total area
76,618 SF
Lot
10.86 ac (473,062 SF)
APN
1346160110001
UPID
US83-0357190
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
-
Tessa at Katy Apartment Building Apartment Complex
-
Katy Custom Sheds Construction Company General Contractor
-
Lppp style and beauty Hair Salon
-
Alex movers Moving Company
-
i-Tech Plus Services - Swing Set Installation / Assembly Service, Playground Equipment Installation / Assembly in Katy, TX Conference Center Trade Show Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$951k
Blend (final)
Blend
$1.10M
Owner & transaction history
TESSA PROPERTY OWNER LLC · 2 yrs held
TESSA PROPERTY OWNER LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Katy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Katy 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
$1,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,490,000
Current use
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±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
$14 / 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
$1,092,982
Tax year 2022
Assessed value
$51,392,905
Assessed 2024
Previous assessed
$62,296,256
-17.5% YoY
Effective rate
2.13%
On assessed value
Assessed land
$9,224,709
Assessed improvement
$42,168,196
Land market value
$9,224,709
Improvement market value
$42,168,196
Total market value
$51,392,905
Applied tax rate
19.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2019
Construction
METAL FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
5
Total area
76,618 SF
Lot
10.86 ac (473,062 SF)
APN
1346160110001
UPID
US83-0357190
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
APARTMENT HOUSE (5+ UNITS) Current
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
2019
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Buildings
5
Lot
10.86 ac
Current owner
From public records · entity-resolved
TESSA PROPERTY OWNER LLC
Entity
Mailing address
42809 SOUTHER DR, CENTREVILLE, VA 20120-1093
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2024
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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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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