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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Garden apartment buildings
510 Billie Bess Ln Conroe, TX 77301-1303
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US83-2328119
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Construction
FRAME
Total area
11,232 SF
Lot
1.54 ac (67,170 SF)
Zoning code
1
APN
0002-02-01300
UPID
US83-2328119
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
-
Kost Management LLC Property Management Company
-
Willowbrook Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$713k
Blend (final)
Blend
$665k
Owner & transaction history
Willowbrook Tx LLC · 4 yrs held
Willowbrook Tx LLC
since 2021
7 recorded transactions
Zoning & alternative use
1 · Conroe, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Development Guide
Top alternative use upside
Auto repair, garage
$1.1M
+6.2%
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 Conroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conroe 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)
$1,020,000
Current use
AUTO REPAIR, GARAGE
$1,080,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$820,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$59 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$36,026
Tax year 2024
Assessed value
$1,950,000
Assessed 2024
Previous assessed
$1,880,000
+3.7% YoY
Effective rate
1.85%
On assessed value
Assessed land
$134,340
Assessed improvement
$1,815,660
Land market value
$134,340
Improvement market value
$1,815,660
Total market value
$1,950,000
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
6
Bathrooms
2
Total area
11,232 SF
Lot
1.54 ac (67,170 SF)
Zoning code
1
APN
0002-02-01300
UPID
US83-2328119
Jurisdiction
MONTGOMERY
Zoning & alternative use
1 · Conroe, TXZoning 1 · permitted uses
1 · Conroe, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Development Guide
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE 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
Buildings
6
Bathrooms
2
Lot
1.54 ac
Current owner
From public records · entity-resolved
Willowbrook Tx LLC
Entity
Mailing address
1000 12TH OAKS CTR DR STE #100, WAYZATA, MN 55391-4704
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2021
—
Willowbrook Tx LLC
Sunstone Willowbrook Apt Conroe LLC
Special Warranty Deed
$2,230,000 · Greystone Servicing Company LLC
Dec 30, 2019
—
Sunstone Willowbrook Apts LLC
Sunstone Apartments LLC
Quit Claim Deed
related
—
Sep 13, 2018
—
Sunstone Partners LLC
—
Deed
related
$1,200,000 · Iberiabank
Dec 13, 2016
—
Sunstone Partners LLC
Mf Blue Valley Apartments LLC
Grant Deed
$1,222,500 · Sunstone Bella Vista LLC
Mar 1, 2016
—
Mf Blue Valley Apts LLC
Fannie Mae
Grant Deed
—
Mar 1, 2016
$801,632
Fannie Mae
Wright Janice|conroe Gardens LLC
Trustees Deed
related
—
Jul 5, 2007
—
Conroe Gardens LLC
Conroe Cove Corp
Quit Claim Deed
related
$874,000 · Greystone Servicing Corp
—
—
Sunstone Partners LLC
—
Deed Of Trust
related
$1,200,000 · Iberiabank
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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