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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Garden apartment buildings
2331 Cincinnati Ave San Antonio, TX 78228
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US82-0371805
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1945
Total area
6,864 SF
Lot
1.14 ac (49,528 SF)
APN
09606-046-0100
UPID
US82-0371805
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
-
UNITVERSITY APARTMENTS Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$560k
Owner & transaction history
The Cottages On Grayson LLC · 3 yrs held
The Cottages On Grayson LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$935,000
+111.6%
Retail stores
$845,000
+92.0%
Medical building
$570,000
+28.8%
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 San Antonio submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Antonio 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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$440,000
Current use
AUTO REPAIR, GARAGE
$935,000
Change: +112% · Conversion: Difficult
RETAIL STORES
$845,000
Change: +92% · Conversion: Difficult
MEDICAL BUILDING
$570,000
Change: +29% · Conversion: Moderate
WAREHOUSE, STORAGE
$530,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$465,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$82 / 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
$32,406
Tax year 2023
Assessed value
$1,300,000
Assessed 2023
Previous assessed
$1,300,000
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$146,560
Assessed improvement
$1,153,440
Land market value
$146,560
Improvement market value
$1,153,440
Total market value
$1,300,000
Applied tax rate
6.0000
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
1945
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
1
Total area
6,864 SF
Lot
1.14 ac (49,528 SF)
APN
09606-046-0100
UPID
US82-0371805
Jurisdiction
BEXAR
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
$440,000
AUTO REPAIR, GARAGE
Est. value
$935,000
RETAIL STORES
Est. value
$845,000
MEDICAL BUILDING
Est. value
$570,000
WAREHOUSE, STORAGE
Est. value
$530,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$465,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1945
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
The Cottages On Grayson LLC
Entity
Mailing address
214 E ASHBY PL, SAN ANTONIO, TX 78212-5836
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2022
—
The Cottages On Grayson LLC
Cincinnati Avenue Partners LLC
Venders Lien
$900,000 · Griff S Grid Cincinnati LLC
Jul 21, 2020
—
Griffs Grid-cincinnati LLC
Griffs Grid LLC
Quit Claim Deed
related
—
Jun 19, 2017
—
Griffs Grid LLC
Valor Redevelopment LLC
Warranty Deed
—
Dec 31, 2014
—
Valor Redevelopment LLC
Benjamin Vesa
Warranty Deed
$360,000 · First State Bank
Oct 7, 2004
—
Benjamin Vesa
Texas Caval Corp
Warranty Deed
$307,500 · Falcon International Bank
—
—
Benjamin Vesa
—
Deed Of Trust
related
$174,917 · Falcon International Bank
—
—
Texas Caval Corp
—
Deed Of Trust
related
$286,000 · International Bank Of Commerce
—
—
Texas Caval Corp
—
Deed Of Trust
related
$20,000 · International Bank Of Commerce
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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