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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Garden apartment buildings
2323 Bay Area Blvd 320 Webster, TX 77598-3247
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3255223
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1982
Construction
FRAME
Total area
10,212 SF
Lot
10.96 ac (477,357 SF)
APN
1116520000027
UPID
US82-3255223
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$846k
Blend (final)
Blend
$645k
Owner & transaction history
Rfi Crystal Bay LLC · 12 yrs held
Rfi Crystal Bay LLC
since 2013
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$815,000
+9.7%
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 Webster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Webster 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
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$740,000
Current use
COMMERCIAL (GENERAL)
$815,000
Change: +10% · Conversion: Moderate
OFFICE BUILDING
$700,000
Change: -6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$630,000
Change: -15% · Conversion: Difficult
MEDICAL BUILDING
$610,000
Change: -18% · Conversion: Moderate
RESTAURANT
$605,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$63 / 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
$161,464
Tax year 2022
Assessed value
$27,755,929
Assessed 2024
Previous assessed
$30,175,035
-8.0% YoY
Effective rate
0.58%
On assessed value
Assessed land
$1,909,432
Assessed improvement
$25,846,497
Land market value
$1,909,432
Improvement market value
$25,846,497
Total market value
$27,755,929
Applied tax rate
27.0000
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
1982
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
25
Stories
2
Rooms
1
Bathrooms
1
Total area
10,212 SF
Lot
10.96 ac (477,357 SF)
APN
1116520000027
UPID
US82-3255223
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
$740,000
COMMERCIAL (GENERAL)
Est. value
$815,000
OFFICE BUILDING
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$630,000
MEDICAL BUILDING
Est. value
$610,000
RESTAURANT
Est. value
$605,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
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
1982
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
25
Rooms
1
Bathrooms
1
Lot
10.96 ac
Current owner
From public records · entity-resolved
Rfi Crystal Bay LLC
Entity
Mailing address
5910 N CENTRAL EXPY STE #980, DALLAS, TX 75206-5181
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2016
—
Rfi Crystal Bay LLC
—
Deed
related
$16,705,000 · Hunt Mtg Ptrs LLC
Aug 2, 2013
—
Rfi Crystal Bay LLC
Alliance Pp2 Fx4 LP
Grant Deed
related
—
—
—
Pp2 Fx4 LP Alliance
—
Loan Modification
related
—
—
—
Rfi Crystal Bay LLC
—
Deed Of Trust
related
$16,705,000 · Hunt Mtg Ptrs LLC
—
—
Rfi Crystal Bay LLC
—
Deed Of Trust
related
$7,350,000 · Centerline Mortgage Partners
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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