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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Apartment buildings
1805 Oates Dr Mesquite, TX 75150-1353
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US82-0808711
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1984
Construction
FRAME
Total area
249,764 SF
Lot
11.43 ac (498,021 SF)
Zoning code
Z237
APN
381189500A0010000
UPID
US82-0808711
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
-
Oates Creek Apartments Apartment Complex
-
Mason Ridge Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.30M
Owner & transaction history
Mason Ridge LLC · 4 yrs held
Mason Ridge LLC
since 2022
7 recorded transactions
Zoning & alternative use
Z237 · Mesquite, TX
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 Mesquite submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mesquite 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)
$3,615,000
Current use
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±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
$9 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$684,139
Tax year 2023
Assessed value
$29,306,250
Assessed 2023
Previous assessed
$29,306,250
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$2,091,710
Assessed improvement
$27,214,540
Land market value
$2,091,710
Improvement market value
$27,214,540
Total market value
$29,306,250
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
280
Total area
249,764 SF
Lot
11.43 ac (498,021 SF)
Zoning code
Z237
APN
381189500A0010000
UPID
US82-0808711
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z237 · Mesquite, TX
Zoning Z237 · permitted uses
Z237 · Mesquite, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mesquite. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.6M
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
1984
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
280
Lot
11.43 ac
Current owner
From public records · entity-resolved
Mason Ridge LLC
Entity
Mailing address
108 STONELEIGH DR, HEATH, TX 75032-6636
Ownership since
2022
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, 2022
—
Mason Ridge LLC
Sevenseas Holdings Vi LLC
Special Warranty Deed
—
Jan 10, 2019
$992,433
State Of Texas
Oncor Electric Delivery Co LLC
Grant Deed
—
Dec 10, 2018
—
Sevenseas Holdings Vi LLC
Brixton Oates Creek Tic LLC
Venders Lien
$16,732,000 · Dougherty Mortgage LLC
Nov 13, 2018
—
Mdvp-texas LLC
Sherron Assocs Oates Creek F
Grant Deed
related
—
Jul 1, 2016
—
Mdvp Texas LLC
Sherron Associates Oates Creek Fund
Special Warranty Deed
$11,625,000 · Berkadia Commercial Mortgage LLC
Nov 2, 2001
—
Sherron Associates Fund LP
Oates Creek LLC
Grant Deed
related
—
—
—
Sherron Associates Fund LP
—
Deed Of Trust
related
$2,500,000 · Keycorp Real Estate Capital
—
—
Assocs Oates Creek F Sherron
—
Deed Of Trust
related
$7,300,000 · Prudential Mortgage Capital Co
—
—
Sherron Associates Fund LP
—
Deed Of Trust
related
$5,920,000 · Keycorp Real Estate Capital
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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