New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,270,000
High-rise multifamily apartments
7315 Spg Cypress Rd 288 Spring, TX 77379-3539
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-9390072
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2014
Construction
FRAME
Total area
39,688 SF
Lot
11.13 ac (484,823 SF)
APN
1356660010001
UPID
US82-9390072
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
-
Rise Spring Cypress Apartment Complex
-
CraftyCristina (Bike/Boat/Book/etc) Store
-
Brand-Itz Marketing & Advertising Advertising Agency
-
Aditech Garage Door Repair Spring Hardware & Home Improvement Production Facility
-
Gulf Coast Disaster Restoration Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$2.27M
Owner & transaction history
Rise Spring Cypress LLC · 8 yrs held
Rise Spring Cypress LLC
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.8M
+53.0%
Warehouse, storage
$2.6M
+41.5%
Auto repair, garage
$2.6M
+41.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,840,000
Current use
MEDICAL BUILDING
$2,820,000
Change: +53% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,605,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,600,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$2.27M
Range $2.04M – $2.50M · ±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
$57 / 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
$796,762
Tax year 2022
Assessed value
$41,878,426
Assessed 2024
Previous assessed
$45,540,634
-8.0% YoY
Effective rate
1.90%
On assessed value
Assessed land
$5,210,529
Assessed improvement
$36,667,897
Land market value
$5,210,529
Improvement market value
$36,667,897
Total market value
$41,878,426
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2014
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
10
Stories
4
Total area
39,688 SF
Lot
11.13 ac (484,823 SF)
APN
1356660010001
UPID
US82-9390072
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
$1.8M
MEDICAL BUILDING
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS) Current
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
2014
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
10
Lot
11.13 ac
Current owner
From public records · entity-resolved
Rise Spring Cypress LLC
Entity
Mailing address
4299 SAN FELIPE ST STE #115, HOUSTON, TX 77027-2980
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2020
—
Rise Spring Cypress LLC
—
Deed
related
$29,950,000 · Newmark Knight Frank
Mar 14, 2018
—
Rise Spring Cypress LLC
Rise Spring Cypress Apts Ltd
Quit Claim Deed
related
$30,000,000 · Starwood Prop Mtg
—
—
Rise Spring Cypress LLC
—
Deed Of Trust
related
$29,950,000 · Newmark Knight Frank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 7315 Spg Cypress Rd, Unit 288?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
