Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Garden apartment buildings
1518 Ee Ave 24 Katy, TX 77493-1969
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-0399932
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1966
Construction
BRICK
Total area
10,232 SF
Lot
1.13 ac (49,179 SF)
APN
220380000020
UPID
US82-0399932
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
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
Dee Rae Invs & Consulting INC · 13 yrs held
Dee Rae Invs & Consulting INC
since 2012
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$865,000
+218.8%
Office building
$840,000
+208.7%
Retail stores
$835,000
+207.5%
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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$865,000
Change: +219% · Conversion: Difficult
OFFICE BUILDING
$840,000
Change: +209% · Conversion: Moderate
RETAIL STORES
$835,000
Change: +207% · Conversion: Difficult
MEDICAL BUILDING
$755,000
Change: +178% · Conversion: Moderate
AUTO REPAIR, GARAGE
$585,000
Change: +114% · Conversion: Difficult
WAREHOUSE, STORAGE
$580,000
Change: +113% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$58 / 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
$37,852
Tax year 2022
Assessed value
$1,771,361
Assessed 2024
Previous assessed
$1,815,906
-2.5% YoY
Effective rate
2.14%
On assessed value
Assessed land
$491,790
Assessed improvement
$1,279,571
Land market value
$491,790
Improvement market value
$1,279,571
Total market value
$1,771,361
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1966
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Rooms
2
Bathrooms
1
Total area
10,232 SF
Lot
1.13 ac (49,179 SF)
APN
220380000020
UPID
US82-0399932
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
RESTAURANT
Est. value
$865,000
OFFICE BUILDING
Est. value
$840,000
RETAIL STORES
Est. value
$835,000
MEDICAL BUILDING
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$580,000
RESTAURANT
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1966
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Rooms
2
Bathrooms
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Dee Rae Invs & Consulting INC
Entity
Mailing address
5610 5TH ST, KATY, TX 77493-1914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2012
—
Dee Rae Invs & Consulting INC
Sunstone Land Co LLC
Warranty Deed
$1,080,000 · Sunstone Land Co LLC
Nov 17, 2011
—
Sunstone Land Co LLC Series 18
State Bk Of Tx
Grant Deed
related
—
Sep 6, 2011
$700,000
State Bk Of Tx
Irons,thomas J
Trustees Deed
related
—
Aug 18, 2006
—
Joe Lee
Sheppard,robert A
Warranty Deed
$90,000 · Robert A Sheppard
—
—
Dee Rae Invs & Consulting INC
—
Deed Of Trust
related
$861,000 · Newfirst Nat'l Bk
—
—
Dee Rae Invs & Consulting INC
—
Deed Of Trust
related
$179,000 · Sunstone Land Co LLC
—
—
Dee Rae Invs & Consulting INC
—
Deed Of Trust
related
$33,000 · Newfirst Nat'l Bk
—
—
Dee Rae Invs & Consulting INC
—
Deed Of Trust
related
$1,100,000 · Newfirst Nat'l Bk
—
—
Robert A Sheppard
—
Deed Of Trust
related
$700,000 · Sterling Bank
—
—
Dee Rae Invs & Consulting INC
—
Deed Of Trust
related
$1,202,767 · City 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1518 Ee Ave, Unit 24?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
