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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Garden apartment buildings
500 Pitts Ave 24 Pasadena, TX 77506-1167
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-0166229
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1951
Construction
WOOD FRAME
Total area
5,155 SF
Lot
0.78 ac (34,055 SF)
APN
562380040010
UPID
US82-0166229
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
-
Savannah Court Homes LLC Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$400k
CAP Approach
CAP
$810k
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$615k
Owner & transaction history
Savannah Court Homes LLC · 4 yrs held
Savannah Court Homes LLC
since 2021
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$940,000
+102.9%
Restaurant
$705,000
+51.6%
Auto repair, garage
$650,000
+40.2%
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 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
$400,000
CAP Approach
CAP Return
Estimation
6%
$880,000
6.5%
$810,000
7%
$755,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$465,000
Current use
COMMERCIAL (GENERAL)
$940,000
Change: +103% · Conversion: Moderate
RESTAURANT
$705,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$650,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$540,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$375,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$119 / 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
$18,613
Tax year 2022
Assessed value
$1,482,912
Assessed 2024
Previous assessed
$1,637,301
-9.4% YoY
Effective rate
1.26%
On assessed value
Assessed land
$102,162
Assessed improvement
$1,380,750
Land market value
$102,162
Improvement market value
$1,380,750
Total market value
$1,482,912
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
1951
Construction
WOOD FRAME
Heating
RADIANT
Cooling
NONE
Buildings
6
Stories
2
Rooms
6
Bathrooms
1
Total area
5,155 SF
Lot
0.78 ac (34,055 SF)
APN
562380040010
UPID
US82-0166229
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
$465,000
COMMERCIAL (GENERAL)
Est. value
$940,000
RESTAURANT
Est. value
$705,000
AUTO REPAIR, GARAGE
Est. value
$650,000
RETAIL STORES
Est. value
$540,000
MEDICAL BUILDING
Est. value
$375,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1951
Construction
WOOD FRAME
Heating
RADIANT
Cooling
Yes
Stories
2
Buildings
6
Rooms
6
Bathrooms
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
Savannah Court Homes LLC
Entity
Mailing address
6319 TULSA RD, HOUSTON, TX 77092-6315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2021
—
Savannah Court Homes LLC
Kenneth B Brown
Venders Lien
$1,520,000 · Trustmark National Bank
Feb 8, 2006
—
Kenneth E Brown
2015 Hazard LLC
Grant Deed
related
—
Dec 30, 2004
—
2015 Hazard LLC
Dar Ventures INC
Warranty Deed
related
—
—
—
Kenneth E Brown
—
Deed Of Trust
related
$900,000 · Hometown 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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