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Property profile & analytics
OFF-MARKET
Estimated value
$1,740,000
Garden apartment buildings
2200 Montgomery Park Blvd Conroe, TX 77304-3584
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-2467647
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1984
Construction
FRAME
Total area
13,824 SF
Lot
7.49 ac (326,134 SF)
Zoning code
1
APN
7265-00-01100
UPID
US83-2467647
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
-
Forest Creek Apartments Apartment Complex
-
Few Inc IT Consulting Firm (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.28M
CAP Approach
CAP
$2.24M
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$1.74M
Owner & transaction history
Ruth A A Cerrato · 7 yrs held
Ruth A A Cerrato
since 2018
1 recorded transaction
Zoning & alternative use
1 · Conroe, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+97.5%
Restaurant
$1.6M
+31.2%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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
$1,280,000
CAP Approach
CAP Return
Estimation
6%
$2,420,000
6.5%
$2,235,000
7%
$2,075,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,255,000
Current use
COMMERCIAL (GENERAL)
$2,475,000
Change: +97% · Conversion: Moderate
RESTAURANT
$1,645,000
Change: +31% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,235,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$1,110,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.74M
Range $1.57M – $1.91M · ±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
$126 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$229,956
Tax year 2024
Assessed value
$14,200,000
Assessed 2024
Previous assessed
$12,000,000
+18.3% YoY
Effective rate
1.62%
On assessed value
Assessed land
$2,609,064
Assessed improvement
$11,590,936
Land market value
$2,609,064
Improvement market value
$11,590,936
Total market value
$14,200,000
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
1984
Construction
FRAME
Heating
FORCED AIR
Cooling
WINDOW A/C
Buildings
3
Bathrooms
12
Total area
13,824 SF
Lot
7.49 ac (326,134 SF)
Zoning code
1
APN
7265-00-01100
UPID
US83-2467647
Jurisdiction
MONTGOMERY
Zoning & alternative use
1 · Conroe, TX
Zoning 1 · permitted uses
1 · Conroe, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
FORCED AIR
Cooling
Yes
Buildings
3
Bathrooms
12
Lot
7.49 ac
Current owner
From public records · entity-resolved
Ruth A A Cerrato
Individual
Mailing address
7887 SAN FELIPE ST STE #237, HOUSTON, TX 77063-1621
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Aug 29, 2018
—
Ruth A A Cerrato
Forest Trace Dev Ltd
Warranty Deed
$36,495 · Forest Trace Dev Ltd
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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