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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Garden apartment buildings
5025 Fm 2351st Rd 124, Friendswood, TX 77546-2816
Entity Owned
Absentee Owner
Free & Clear
Property ID
US82-2961049
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Construction
FRAME
Total area
9,156 SF
Lot
4.92 ac (214,315 SF)
APN
330520000003
UPID
US82-2961049
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
-
Baywood Apartments Apartment Complex Apartment Building
-
Custom Boxes U Industrial Manufacturer Factory
-
Orchard Solutions Global (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
$935k
Comparable Approach
Comparable
$837k
Blend (final)
Blend
$835k
Owner & transaction history
BAYWOOD APARTMENTS
BAYWOOD APARTMENTS
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+132.0%
Restaurant
$895,000
+58.3%
Auto repair, garage
$830,000
+46.7%
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 Friendswood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Friendswood 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
$740,000
CAP Approach
CAP Return
Estimation
6%
$1,010,000
6.5%
$935,000
7%
$865,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$565,000
Current use
OFFICE BUILDING
$1,310,000
Change: +132% · Conversion: Moderate
RESTAURANT
$895,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$830,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$815,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$605,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$91 / 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
$44,322
Tax year 2022
Assessed value
$7,736,629
Assessed 2024
Previous assessed
$8,283,081
-6.6% YoY
Effective rate
0.57%
On assessed value
Assessed land
$1,071,575
Assessed improvement
$6,665,054
Land market value
$1,071,575
Improvement market value
$6,665,054
Total market value
$7,736,629
Applied tax rate
27.0000
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
12
Stories
16
Rooms
1
Bathrooms
6
Total area
9,156 SF
Lot
4.92 ac (214,315 SF)
APN
330520000003
UPID
US82-2961049
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
$565,000
OFFICE BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$815,000
MEDICAL BUILDING
Est. value
$605,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
16
Buildings
12
Rooms
1
Bathrooms
6
Lot
4.92 ac
Current owner
From public records · entity-resolved
BAYWOOD APARTMENTS
Individual
Free & Clear · 0 yrs held
Mailing address
1912 N BROADWAY STE #300, SANTA ANA, CA 92706-2621
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.
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