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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Garden apartment buildings
2907 Red Blf Rd 68 Pasadena, TX 77503-2560
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US82-0814127
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1961
Construction
FRAME
Total area
19,240 SF
Lot
2.25 ac (98,167 SF)
APN
855880000002
UPID
US82-0814127
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
-
Palm Bluff Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$575k
Owner & transaction history
Palm Bluff Apartments LLC · 15 yrs held
Palm Bluff Apartments LLC
since 2011
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$30 / 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
$24,748
Tax year 2022
Assessed value
$2,928,756
Assessed 2024
Previous assessed
$2,177,015
+34.5% YoY
Effective rate
0.85%
On assessed value
Assessed land
$294,501
Assessed improvement
$2,634,255
Land market value
$294,501
Improvement market value
$2,634,255
Total market value
$2,928,756
Applied tax rate
21.0000
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
1961
Construction
FRAME
Heating
NONE
Cooling
NONE
Buildings
7
Stories
2
Rooms
1
Bathrooms
1
Total area
19,240 SF
Lot
2.25 ac (98,167 SF)
APN
855880000002
UPID
US82-0814127
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
Building & site characteristics
From public records
Year built
1961
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
7
Rooms
1
Bathrooms
1
Lot
2.25 ac
Current owner
From public records · entity-resolved
Palm Bluff Apartments LLC
Entity
Mailing address
PO BOX 574, BELLAIRE, TX 77402-0574
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2011
—
Palm Bluff Apartments LLC
Thrivent Finl Of Lutherans
Grant Deed
$906,500 · Oasis Bank Ssb
May 10, 2010
$1,700,000
Thrivent Finl Of Lutherans
Carson Philip B
Trustees Deed
related
—
May 31, 2007
—
Palm Bluff Pasadena
—
Trustees Deed
related
$45,000 · Leslie Wischnewsky
May 8, 2007
—
Palm Bluff Pasadena
—
Trustees Deed
related
$1,355,000 · Patriot Bank NA
Mar 27, 2000
—
Palm Bluff Partners Ltd
American First Nat'l Bank
Grant Deed
related
—
Mar 13, 2000
$100
American First Nat'l Bank
Cnl Investments & Financial
Trustees Deed
related
—
Mar 13, 2000
$425,000
American First Nat'l Bank
Cnl Investments & Financial
Trustees Deed
related
—
Feb 2, 1998
—
Cnl Investments
Nhc INC
Grant Deed
related
$51,000 · Seller
—
—
Palm Bluff Pasadena
—
Deed Of Trust
related
$74,219 · Tax Ease Funding LP
—
—
Palm Bluff Pasadena
—
Deed Of Trust
related
$2,075,000 · Thrivent Financial For Luthera
—
—
Palm Bluff Apartments LLC
—
Deed Of Trust
related
$1,044,000 · First Victoria National Bank
—
—
Investments Cnl
—
Deed Of Trust
related
$516,500 · American First National Bank
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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