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    1612 Houston Blvd, Unit 16 South Houston, TX 77587-4512
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    Property profile & analytics

    1612 Houston Blvd, Unit 16, South Houston, TX 77587-4512

    View on Map
    • Apartment buildings
    • 1,879 SF
    • 0.49 lot acres
    Off-Market
    Property ID
    US82-2774640
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1612 Houston Blvd

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    0.49 lot acres
    Property type
    Apartment buildings
    APN
    340850680014
    APU
    340850680014

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 25, 2017 — Jose Barrera — Deed · related $168k · Us Small Busn Admn
    Dec 13, 1996 — Jose Barrera Rios,rene Grant Deed $115k · Seller
    — — Jose Barrera — Deed Of Trust · related $168k · Us Small Busn Admn

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    South Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.2338
    Latitude
    29.6606
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $7,144
    $319,500
    $286,742
    $606,242
    -
    $319,500
    $286,742
    $606,242

    Comparable in this City

    • Value Estimation
      $675,000
      6,864 SF

      1318 Ave A A, Unit 28

      APARTMENT HOUSE (5+ UNITS)
      1318 Ave A A, South Houston, TX 77587-1115
      View Details
    • Value Estimation by Request
      2,002 SF

      1405 12th St, Unit 9

      APARTMENT HOUSE (5+ UNITS)
      1405 12th St, South Houston, TX 77587-5157
      View Details
    • Value Estimation by Request
      2,366 SF

      1208 Ave N Ave, Unit 14

      APARTMENT HOUSE (5+ UNITS)
      1208 Ave N Ave, South Houston, TX 77587-5167
      View Details
    • Value Estimation by Request
      3,000 SF

      1405 Main St, Unit 15

      APARTMENT HOUSE (5+ UNITS)
      1405 Main St, South Houston, TX 77587-4222
      View Details
    • Value Estimation
      $520,000
      13,872 SF

      406 8th St, Unit 16

      APARTMENT HOUSE (5+ UNITS)
      406 8th St, South Houston, TX 77587-4103
      View Details
    • Value Estimation by Request
      4,080 SF

      402 Indiana St, Unit 4

      APARTMENT HOUSE (5+ UNITS)
      402 Indiana St, South Houston, TX 77587-3412
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,930 SF

      Modern Multifamily Asset in Houston

      2020 construction, 97% occupancy, improving operations, seller financing available.
      1318 Avenue A, South Houston, TX 77587
      View Details
    • $500,000

      South Houston Industrial Warehouse

      4,000 SF insulated building near I-45 and Hobby Airport.
      1304 Washington St, South Houston, TX 77587
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    • Contact for pricing
      4,550 SF

      Single Tenant Warehouse For Sale

      4,550 SF single tenant warehouse with two overhead doors.
      1408 Illinois St, South Houston, TX 77587
      View Details
    • Contact for pricing

      Two Office Buildings Near Airport

      Two office buildings with various office sizes available for lease.
      801 Dumont St, South Houston, TX 77587
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Functional Industrial Facility in South Houston

      9,340 SF industrial facility on 1.3 acres for lease.
      1502 Galveston St, South Houston, TX 77587
      View Details
    • Contact for pricing
      29,492 SF

      Retail Space on Spencer Highway

      Retail property available for lease on Spencer Highway.
      1402-1404 Spencer Hwy S, South Houston, TX 77587
      View Details
    • $9 SF/Yr

      South Houston Building For Lease

      Lease includes recent updates and corner location.
      813 Dumont St, South Houston, TX 77587
      View Details
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    South Houston, TX 77587-4512
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1612 Houston Blvd, South Houston, TX, 77587
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