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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3424 Chimney Rock Rd, Unit 52 Houston, TX 77056-6823

    • Garden apartment buildings
    • 6,640 SF
    • 1.12 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3974381
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Chimney Rock Apartments / Apartment Building

    Property Details for 3424 Chimney Rock Rd

    Year built
    1968
    Construction
    BRICK
    Lot size
    1.12 lot acres
    Property size
    6,640 SF
    Property type
    Garden apartment buildings
    APN
    741650040094
    APU
    741650040094

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $610,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $670,000
      AUTO REPAIR, GARAGE
      $620,000
      MEDICAL BUILDING
      $425,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.4769
    Latitude
    29.7279
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $72,372
    $1,951,040
    $1,761,905
    $3,712,945
    -
    $1,951,040
    $1,761,905
    $3,712,945

    Comparable in this City

    • Value Estimation
      $610,000
      43,458 SF

      2400 Yorktown St, Unit 540

      GARDEN APT, COURT APT (5+ UNITS) • 43,458 SF
      2400 Yorktown St, Houston, TX 77056-4571
      View Details
    • Value Estimation
      $720,000
      106,970 SF

      2425 Sage Rd, Unit 106

      GARDEN APT, COURT APT (5+ UNITS) • 106,970 SF
      2425 Sage Rd, Houston, TX 77056-5018
      View Details
    • Value Estimation
      $435,000
      2,624 SF

      2306 Mccue Rd, Unit 58

      GARDEN APT, COURT APT (5+ UNITS) • 2,624 SF
      2306 Mccue Rd, Houston, TX 77056-4630
      View Details
    • Value Estimation
      $545,000
      9,752 SF

      2320 Mccue Rd, Unit 40

      GARDEN APT, COURT APT (5+ UNITS) • 9,752 SF
      2320 Mccue Rd, Houston, TX 77056-4658
      View Details
    • Value Estimation
      $665,000
      47,299 SF

      3300 Sage Rd, Unit 318

      GARDEN APT, COURT APT (5+ UNITS) • 47,299 SF
      3300 Sage Rd, Houston, TX 77056-7046
      View Details
    • Value Estimation
      $605,000
      20,988 SF

      5010 Woodway Dr, Unit 102

      GARDEN APT, COURT APT (5+ UNITS) • 20,988 SF
      5010 Woodway Dr, Houston, TX 77056-1712
      View Details

    Similar Nearby for Sale

    • $159,900
      1,095 SF

      Uptown High-Rise Living

      Two-bedroom corner unit with views and amenities in Uptown Houston.
      3525 Sage Rd, Houston, TX 77056
      View Details
    • $235,000
      1,221 SF

      Contemporary High-Rise Unit with Amenities

      Luxurious 2-bedroom condo with city views and modern amenities.
      3525 Sage Rd, Houston, TX 77056
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    • $250,000

      Galleria Area Luxurious Condo

      Luxurious condo in Galleria area with many amenities.
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    • $130,000

      Luxury High-Rise Condo in Galleria

      Elegant 12th-floor condo with city views and resort-style amenities.
      3525 Sage Rd, Houston, TX 77056
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    • $175,000

      Uptown High-Rise Living

      Two-bedroom corner unit with views and resort-style pool.
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    • $160,000

      Renovated Galleria Condo with Utilities

      Two-bedroom, two-bath condo in Galleria with included utilities.
      5333 Richmond Ave, Houston, TX 77056
      View Details

    Similar Nearby for Lease

    • $2,850 /Mo

      Furnished Apartment with Galleria View

      Furnished 2-bedroom apartment with updated amenities and Galleria views.
      5150 Hidalgo St, Houston, TX 77056
      View Details
    • $2,000 /Mo

      Galleria Area Modern Condo

      Modern 2/2 condo in Galleria area with community amenities.
      2400 Mccue Rd, Houston, TX 77056
      View Details
    • $2,450 /Mo

      Furnished Galleria Apartment with Amenities

      Luxury furnished 2 bed, 2 bath apartment in Galleria area.
      3525 Sage Rd, Houston, TX 77056
      View Details
    • $2,500 /Mo

      Luxurious Condo in Galleria Area

      Spacious 2 bed, 2 bath condo near Galleria, Houston.
      3525 Sage Rd, Houston, TX 77056
      View Details
    • $1,950 /Mo

      Galleria Area Condo with Balcony

      Condo near Galleria with updated appliances and resort-like amenities.
      2400 Mccue Rd, Houston, TX 77056
      View Details
    • $5,300 /Mo
      2,434 SF

      Elegant Townhome in Galleria Area

      Luxury townhome with high-end kitchen and upscale features for lease.
      5124 Chevy Chase Dr, Houston, TX 77056
      View Details
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    3424 Chimney Rock Rd, Unit 52
    Houston, TX 77056-6823
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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