Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$17,920,000
High-rise multifamily apartments
2115 Runnels St 244 Houston, TX 77003-1000
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-3897050
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1910
Construction
BRICK
Total area
186,566 SF
Lot
4.03 ac (175,547 SF)
APN
1225170010001
UPID
US83-3897050
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
-
Blink Charging Station Electric Vehicle Charging Station
-
Daniel Osborn Physician Medical Clinic
-
Ellie Dental Clinic Dental Office
-
Osborn Psychological Services Physician Medical Clinic
-
Click Mode Studios LLC. Wedding Service Photography Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.69M
Blend (final)
Blend
$17.92M
Owner & transaction history
Cws Houston Lofts LP · 15 yrs held
Cws Houston Lofts LP
since 2010
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$27.9M
+78.6%
Commercial (general)
$23.7M
+52.1%
Restaurant
$16.6M
+6.3%
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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)
$15,605,000
Current use
AUTO REPAIR, GARAGE
$27,860,000
Change: +79% · Conversion: Difficult
COMMERCIAL (GENERAL)
$23,725,000
Change: +52% · Conversion: Moderate
RESTAURANT
$16,585,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$13,510,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$17.92M
Range $16.13M – $19.71M · ±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
$96 / 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
$980,828
Tax year 2022
Assessed value
$46,833,018
Assessed 2024
Previous assessed
$48,680,913
-3.8% YoY
Effective rate
2.09%
On assessed value
Assessed land
$6,144,145
Assessed improvement
$40,688,873
Land market value
$6,144,145
Improvement market value
$40,688,873
Total market value
$46,833,018
Applied tax rate
1.0000
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
1910
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
5
Total area
186,566 SF
Lot
4.03 ac (175,547 SF)
APN
1225170010001
UPID
US83-3897050
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
$15.6M
AUTO REPAIR, GARAGE
Est. value
$27.9M
COMMERCIAL (GENERAL)
Est. value
$23.7M
RESTAURANT
Est. value
$16.6M
RETAIL STORES
Est. value
$13.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
1910
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
5
Buildings
4
Lot
4.03 ac
Current owner
From public records · entity-resolved
Cws Houston Lofts LP
Entity
Mailing address
135 WATER ST FL 4TH, NAPERVILLE, IL 60540-5494
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2010
—
Cws Houston Lofts LP
Runnels Lofts LP
Grant Deed
$16,400,000 · Cbre Capital Markets INC
—
—
Lofts Runnels
—
Deed Of Trust
related
$19,000 · Guaranty Bank
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 2115 Runnels St, Unit 244?
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.
