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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Garden apartment buildings
23423 Kellington Dr Kingwood, TX 77339
Individually Owned
19-yr Hold
Free & Clear
Property ID
US83-2384459
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Construction
FRAME
Total area
10,560 SF
Lot
13.28 ac (578,564 SF)
Zoning code
5
APN
0342-00-00310
UPID
US83-2384459
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
$1.16M
CAP Approach
CAP
$1.71M
Comparable Approach
Comparable
$871k
Blend (final)
Blend
$1.25M
Owner & transaction history
Creek Mallard · 19 yrs held
Creek Mallard
since 2006
2 recorded transactions
Zoning & alternative use
5 · Kingwood, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+98.1%
Industrial (general)
$1.1M
+77.5%
Restaurant
$1.0M
+58.6%
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 Kingwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kingwood 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
$1,155,000
CAP Approach
CAP Return
Estimation
6%
$1,850,000
6.5%
$1,705,000
7%
$1,585,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,275,000
Change: +98% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,145,000
Change: +77% · Conversion: Difficult
RESTAURANT
$1,020,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$118 / 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
$533,566
Tax year 2024
Assessed value
$28,550,000
Assessed 2024
Previous assessed
$29,900,000
-4.5% YoY
Effective rate
1.87%
On assessed value
Assessed land
$5,785,550
Assessed improvement
$22,764,450
Land market value
$5,785,550
Improvement market value
$22,764,450
Total market value
$28,550,000
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
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Bathrooms
6
Total area
10,560 SF
Lot
13.28 ac (578,564 SF)
Zoning code
5
APN
0342-00-00310
UPID
US83-2384459
Jurisdiction
MONTGOMERY
Zoning & alternative use
5 · Kingwood, TX
Zoning 5 · permitted uses
5 · Kingwood, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kingwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
3
Bathrooms
6
Lot
13.28 ac
Current owner
From public records · entity-resolved
Creek Mallard
Individual
Free & Clear · 19 yrs held
Ownership since
2006
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
Oct 27, 2006
—
Creek Mallard
Drever Mallard Creek Prop Ptsh
Quit Claim Deed
related
—
—
—
One Mallard Creek Ltd
—
Deed Of Trust
related
$16,750,000 · Miscellaneous Ins Co
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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