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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Garden apartment buildings
3240 Burke Rd 32 Pasadena, TX 77504-1860
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-4430675
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
4,344 SF
Lot
3.12 ac (135,881 SF)
APN
1073000100001
UPID
US82-4430675
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
$580k
CAP Approach
CAP
$685k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$630k
Owner & transaction history
3224 Burke LLC · 3 yrs held
3224 Burke LLC
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$400,000
+41.4%
Auto repair, garage
$385,000
+35.6%
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 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
$580,000
CAP Approach
CAP Return
Estimation
6%
$740,000
6.5%
$685,000
7%
$635,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$400,000
Change: +41% · Conversion: Moderate
AUTO REPAIR, GARAGE
$385,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$145 / 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
$39,577
Tax year 2022
Assessed value
$3,013,267
Assessed 2024
Previous assessed
$3,481,422
-13.4% YoY
Effective rate
1.31%
On assessed value
Assessed land
$679,405
Assessed improvement
$2,333,862
Land market value
$679,405
Improvement market value
$2,333,862
Total market value
$3,013,267
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
1973
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
8
Stories
2
Rooms
8
Bathrooms
3
Total area
4,344 SF
Lot
3.12 ac (135,881 SF)
APN
1073000100001
UPID
US82-4430675
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
COMMERCIAL (GENERAL)
Est. value
$400,000
AUTO REPAIR, GARAGE
Est. value
$385,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1973
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
8
Rooms
8
Bathrooms
3
Lot
3.12 ac
Current owner
From public records · entity-resolved
3224 Burke LLC
Entity
Mailing address
18125 STATE HWY 36TH S, SOMERVILLE, TX 77879-4440
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Jun 30, 2023
—
3224 Burke LLC
—
Deed
related
$5,001,000 · Pinnacle Bank
Feb 5, 2018
—
Harriette A Atchison
—
Deed
related
$1,000,000 · Bank Of Tescott
—
—
Harriette A Atchison
—
Deed Of Trust
related
$1,000,000 · Bank Of Tescott
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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