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Property profile & analytics
FOR SALE
High-rise multifamily apartments
1005 Raleigh St Elizabeth City, NC 27909
Entity Owned
9-yr Hold
Free & Clear
Property ID
US53-4621174
For Sale
1 / 34
$2,695,827
1005 Raleigh St, Elizabeth City, NC 27909
View Listing →
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1990
Construction
FRAME
Lot
1.42 ac (61,681 SF)
Zoning code
R-8
APN
892309261179
UPID
US53-4621174
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Raleigh Park Rentals LLC · 9 yrs held
Raleigh Park Rentals LLC
since 2017
1 recorded transaction
Zoning & alternative use
R-8 · Elizabeth City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The R-8 Residential District is primarily intended to accommodate a variety of moderate density single family detached dwellings, modular homes, and two family dwellings, maximum densities within the R-8 District include approximately 5 dwelling units per gross acre for single family detached dwellings and 7 dwelling units per gross acre for two family resid…
Zone name
Residential
General category
CIVIC_INSTITUTIONAL
Zone area
910.17 ac
Source
Realmo
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 Elizabeth City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Assessed value
$470,500
Assessed 2023
Previous assessed
$470,500
+0.0% YoY
Land market value
$197,300
Improvement market value
$273,200
Total market value
$470,500
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
For Sale
Year built
1990
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Units
6
Lot
1.42 ac (61,681 SF)
Zoning code
R-8
APN
892309261179
UPID
US53-4621174
Jurisdiction
PASQUOTANK
Zoning & alternative use
R-8 · Elizabeth City, NCZoning R-8 · permitted uses
R-8 · Elizabeth City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The R-8 Residential District is primarily intended to accommodate a variety of moderate density single family detached dwellings, modular homes, and two family dwellings, maximum densities within the R-8 District include approximately 5 dwelling units per gross acre for single family detached dwellings and 7 dwelling units per gross acre for two family residences, nonresidential uses permitted within this district include customary accessory, recreational, educational, and institutional land uses that are compatible with the moderate density residential character of the R-8 District
Zone name
Residential
General category
CIVIC_INSTITUTIONAL
Zone area
910.17 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1990
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Units
6
Lot
1.42 ac
Current owner
From public records · entity-resolved
Raleigh Park Rentals LLC
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 62, MAPLE, NC 27956-0062
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2017
—
Raleigh Park Rentals LLC
Nixon & Nixon North Carolina Genera
Warranty Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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