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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Garden apartment buildings
2005 Mason Rd 308 Katy, TX 77450-5642
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2069019
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2007
Construction
BRICK
Total area
17,992 SF
Lot
13.38 ac (583,007 SF)
APN
1288000010001
UPID
US82-2069019
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
-
Apartments in Katy Texas Vacation Rental
-
Oak Park Trails Apartments in Katy Apartment Complex Apartment Building
-
APRO Insurance Insurance Agency
-
Gladden Remodeling Bath & Kitchen LLC Hardware & Home Improvement Kitchen & Bath Showroom
-
Randy Self Storage Unit Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$765k
Owner & transaction history
Redwoods Oak Park LLC · 13 yrs held
Redwoods Oak Park LLC
since 2013
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+193.1%
Auto repair, garage
$915,000
+126.3%
Warehouse, storage
$860,000
+113.3%
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 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
$780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,185,000
Change: +193% · Conversion: Moderate
AUTO REPAIR, GARAGE
$915,000
Change: +126% · Conversion: Difficult
WAREHOUSE, STORAGE
$860,000
Change: +113% · Conversion: Difficult
RETAIL STORES
$730,000
Change: +81% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$43 / 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
$913,476
Tax year 2022
Assessed value
$45,291,813
Assessed 2024
Previous assessed
$52,065,056
-13.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$5,830,070
Assessed improvement
$39,461,743
Land market value
$5,830,070
Improvement market value
$39,461,743
Total market value
$45,291,813
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
2007
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
16
Stories
3
Total area
17,992 SF
Lot
13.38 ac (583,007 SF)
APN
1288000010001
UPID
US82-2069019
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
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$915,000
WAREHOUSE, STORAGE
Est. value
$860,000
RETAIL STORES
Est. value
$730,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
2007
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
16
Lot
13.38 ac
Current owner
From public records · entity-resolved
Redwoods Oak Park LLC
Entity
Mailing address
10351 SANTA MONICA BLVD STE #270, LOS ANGELES, CA 90025-6935
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Jun 6, 2013
—
Redwoods Oak Park LLC
Mason Road 308 LP
Grant Deed
$23,670,000 · Berkadia Com'l Mtg
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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