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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Garden apartment buildings
4603 Cypresswood Dr 234 Spring, TX 77379-8385
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US83-3999498
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Construction
FRAME
Total area
7,928 SF
Lot
9.37 ac (408,157 SF)
APN
420860000094
UPID
US83-3999498
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
-
Carrara at Cypress Creek Apartment Complex Apartment Building
-
Noor Aesthetics (Bike/Boat/Book/etc) Store Cosmetic Store
-
Filiae Diana (Bike/Boat/Book/etc) Store Cosmetic Store
-
J ok hb Mobile Phone Store Electronics & Wireless Store
-
YourEssentials Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$535k
Blend (final)
Blend
$575k
Owner & transaction history
Falcon Ridge 2013 Partners Ltd · 12 yrs held
Falcon Ridge 2013 Partners Ltd
since 2013
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$880,000
+139.1%
Commercial (general)
$810,000
+119.6%
Medical building
$565,000
+53.0%
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 Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring 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
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$370,000
Current use
RESTAURANT
$880,000
Change: +139% · Conversion: Difficult
COMMERCIAL (GENERAL)
$810,000
Change: +120% · Conversion: Moderate
MEDICAL BUILDING
$565,000
Change: +53% · Conversion: Moderate
WAREHOUSE, STORAGE
$520,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$520,000
Change: +41% · Conversion: Difficult
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
$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
$445,478
Tax year 2022
Assessed value
$20,741,284
Assessed 2024
Previous assessed
$25,462,260
-18.5% YoY
Effective rate
2.15%
On assessed value
Assessed land
$3,265,256
Assessed improvement
$17,476,028
Land market value
$3,265,256
Improvement market value
$17,476,028
Total market value
$20,741,284
Applied tax rate
17.0000
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
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
24
Stories
2
Rooms
1
Bathrooms
1
Total area
7,928 SF
Lot
9.37 ac (408,157 SF)
APN
420860000094
UPID
US83-3999498
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
$370,000
RESTAURANT
Est. value
$880,000
COMMERCIAL (GENERAL)
Est. value
$810,000
MEDICAL BUILDING
Est. value
$565,000
WAREHOUSE, STORAGE
Est. value
$520,000
AUTO REPAIR, GARAGE
Est. value
$520,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
24
Rooms
1
Bathrooms
1
Lot
9.37 ac
Current owner
From public records · entity-resolved
Falcon Ridge 2013 Partners Ltd
Entity
Mailing address
5910 N CENTRAL EXPY STE #980, DALLAS, TX 75206-5181
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2013
—
Falcon Ridge 2013 Partners Ltd
Dlm-spring Fr LLC
Grant Deed
$9,600,000 · Holliday Fenoglio Fowler
Jul 8, 2010
$10,066,610
Dlm-spring Fr LLC
Wilson Chris
Trustees Deed
$10,066,610 · Protective Life Insurance Co
Oct 13, 2004
—
Tvp Southwest Partners
Tvo Southwest Partners
Grant Deed
$10,345,100 · Protective Life Insurance Co
—
—
Falcon Ridge 2013 Partners Ltd
—
Deed Of Trust
related
$3,050,000 · Holliday Fenoglio Fowler
—
—
Tvp Southwest Partners
—
Deed Of Trust
related
$1,237,031 · Interim Capital 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.
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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