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Property profile & analytics
OFF-MARKET
Estimated value
$1,620,000
Garden apartment buildings
938 Kingwood Dr Kingwood, TX 77339-4445
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US83-2398437
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Construction
FRAME
Total area
21,160 SF
Lot
10.73 ac (467,442 SF)
Zoning code
5
APN
0405-02-03303
UPID
US83-2398437
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.62M
Owner & transaction history
Dpr Kingwood LLC · 12 yrs held
Dpr Kingwood LLC
since 2014
4 recorded transactions
Zoning & alternative use
5 · Kingwood, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+98.1%
Industrial (general)
$2.3M
+77.5%
Restaurant
$2.1M
+58.6%
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 Kingwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kingwood 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
$1,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,290,000
Current use
OFFICE BUILDING
$2,560,000
Change: +98% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,290,000
Change: +77% · Conversion: Difficult
RESTAURANT
$2,050,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,455,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$1,355,000
Change: +5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,220,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$1,160,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.46M – $1.78M · ±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
$77 / 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
$535,350
Tax year 2024
Assessed value
$31,800,000
Assessed 2024
Previous assessed
$30,000,000
+6.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$6,544,202
Assessed improvement
$25,255,798
Land market value
$6,544,202
Improvement market value
$25,255,798
Total market value
$31,800,000
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
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
WINDOW A/C
Buildings
4
Bathrooms
12
Total area
21,160 SF
Lot
10.73 ac (467,442 SF)
Zoning code
5
APN
0405-02-03303
UPID
US83-2398437
Jurisdiction
MONTGOMERY
Zoning & alternative use
5 · Kingwood, TX
Zoning 5 · permitted uses
5 · Kingwood, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kingwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
RESTAURANT
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Buildings
4
Bathrooms
12
Lot
10.73 ac
Current owner
From public records · entity-resolved
Dpr Kingwood LLC
Entity
Mailing address
270 S SERVICE RD STE #45, MELVILLE, NY 11747-2399
Ownership since
2014
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
Apr 24, 2019
—
Dpr Kingwood LLC
—
Deed
related
$29,709,000 · Berkadia Com'l Mtg
Jun 16, 2014
—
Dpr Kingwood LLC
Altis Aju Kingwood LLC
Grant Deed
$7,600,000 · M&t Rlty Cap
Feb 1, 2011
$14,350,000
Gecmc 2005-c2 Kingwood Lodging
Collateral Services INC
Trustees Deed
related
—
Sep 16, 2010
—
Lodge At Kingwood Ltd
Er Houston LLP
Grant Deed
$24,000,000 · Bank Of America
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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