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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Garden apartment buildings
2701 Bay Area Blvd 224 Webster, TX 77598-3159
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2537020
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1979
Construction
FRAME
Total area
10,564 SF
Lot
7.02 ac (305,791 SF)
APN
1075610000001
UPID
US82-2537020
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
$670k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$875k
Blend (final)
Blend
$770k
Owner & transaction history
Mosaic Baybrook One LP · 11 yrs held
Mosaic Baybrook One LP
since 2015
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$840,000
+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
$670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$765,000
Current use
COMMERCIAL (GENERAL)
$840,000
Change: +10% · Conversion: Moderate
OFFICE BUILDING
$725,000
Change: -6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$655,000
Change: -15% · Conversion: Difficult
MEDICAL BUILDING
$630,000
Change: -18% · Conversion: Moderate
RESTAURANT
$625,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$73 / 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
$97,005
Tax year 2022
Assessed value
$16,460,916
Assessed 2024
Previous assessed
$18,128,724
-9.2% YoY
Effective rate
0.59%
On assessed value
Assessed land
$1,223,164
Assessed improvement
$15,237,752
Land market value
$1,223,164
Improvement market value
$15,237,752
Total market value
$16,460,916
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
1979
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
14
Stories
2
Rooms
1
Bathrooms
1
Total area
10,564 SF
Lot
7.02 ac (305,791 SF)
APN
1075610000001
UPID
US82-2537020
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
$765,000
COMMERCIAL (GENERAL)
Est. value
$840,000
OFFICE BUILDING
Est. value
$725,000
AUTO REPAIR, GARAGE
Est. value
$655,000
MEDICAL BUILDING
Est. value
$630,000
RESTAURANT
Est. value
$625,000
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
1979
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
14
Rooms
1
Bathrooms
1
Lot
7.02 ac
Current owner
From public records · entity-resolved
Mosaic Baybrook One LP
Entity
Mailing address
310 PARRAMATTA LN, HOUSTON, TX 77073-1051
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2015
—
Mosaic Baybrook One LP
Baybrook Associates LP
Quit Claim Deed
related
$2,840,000 · Walker & Dunlop
May 2, 2013
—
Baybrook Associates LP
—
Deed Of Trust
related
$13,504,000 · Private Lender
Apr 1, 2008
—
Baybrook Associates
Baybrook Village I
Quit Claim Deed
related
$14,820,000 · Column Guaranteed LLC
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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