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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Garden apartment buildings
3405 Shepherd Dr 166 Houston, TX 77018-7629
Entity Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-5953244
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
7,552 SF
Lot
5.34 ac (232,567 SF)
APN
660460580007
UPID
US82-5953244
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
-
Reserve at Garden Oaks Apartments Real Estate Agency
-
Fitness State of Mind Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$647k
Blend (final)
Blend
$610k
Owner & transaction history
200 PARK AVENUE LLC
200 PARK AVENUE LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$945,000
+121.4%
Restaurant
$880,000
+106.3%
Retail stores
$600,000
+41.2%
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 Houston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Houston 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
$575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$425,000
Current use
AUTO REPAIR, GARAGE
$945,000
Change: +121% · Conversion: Difficult
RESTAURANT
$880,000
Change: +106% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$525,000
Change: +23% · Conversion: Moderate
MEDICAL BUILDING
$480,000
Change: +13% · Conversion: Moderate
WAREHOUSE, STORAGE
$440,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$81 / 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
$380,000
Tax year 2022
Assessed value
$17,001,216
Assessed 2024
Previous assessed
$21,649,754
-21.5% YoY
Effective rate
2.24%
On assessed value
Assessed improvement
$17,001,216
Improvement market value
$17,001,216
Total market value
$17,001,216
Applied tax rate
1.0000
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
1972
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
16
Stories
2
Total area
7,552 SF
Lot
5.34 ac (232,567 SF)
APN
660460580007
UPID
US82-5953244
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
$425,000
AUTO REPAIR, GARAGE
Est. value
$945,000
RESTAURANT
Est. value
$880,000
RETAIL STORES
Est. value
$600,000
OFFICE BUILDING
Est. value
$525,000
MEDICAL BUILDING
Est. value
$480,000
WAREHOUSE, STORAGE
Est. value
$440,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1972
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
16
Lot
5.34 ac
Current owner
From public records · entity-resolved
200 PARK AVENUE LLC
Entity
Free & Clear · 0 yrs held
Mailing address
3375 SCOTT BLVD STE #308, SANTA CLARA, CA 95054-3113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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