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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Garden apartment buildings
1021 Mulberry Ln Gardendale, AL 35071
Entity Owned
5-yr Hold
Free & Clear
Property ID
US03-0374373
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1989
Total area
4,816 SF
Lot
1.48 ac (64,251 SF)
Zoning code
R4
APN
14-00-11-4-008-016.000
UPID
US03-0374373
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
$1.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$1.22M
Owner & transaction history
Cocodrie Partners LLC · 5 yrs held
Cocodrie Partners LLC
since 2020
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
R4 · Gardendale, AL
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 Gardendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gardendale 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
$1,215,000
ML approach
$1,290,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$955,000
Current use
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10% · vs last sale $1.46M (Sep 21 2020)
Last sale anchor
$1.46M
Sep 21 2020
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
$252 / 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
$15,140
Tax year 2022
Assessed value
$295,360
Assessed 2023
Previous assessed
$251,920
+17.2% YoY
Effective rate
5.13%
On assessed value
Assessed land
$57,820
Assessed improvement
$237,540
Land market value
$289,100
Improvement market value
$1,187,700
Total market value
$1,476,800
Applied tax rate
10.0000
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
1989
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
4
Total area
4,816 SF
Lot
1.48 ac (64,251 SF)
Zoning code
R4
APN
14-00-11-4-008-016.000
UPID
US03-0374373
Jurisdiction
JEFFERSON
Zoning & alternative use
R4 · Gardendale, ALZoning R4 · permitted uses
R4 · Gardendale, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Gardendale Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$955,000
APARTMENT HOUSE (5+ UNITS) Current
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
4
Lot
1.48 ac
Current owner
From public records · entity-resolved
Cocodrie Partners LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1425 RICHARD ARRINGTON JR BLVD S, BIRMINGHAM, AL 35205-3898
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2020
$1,456,000
Cocodrie Partners LLC
Jesse D Carter
Warranty Deed
—
Jul 1, 1988
$76,500
Gardendale Terrace Ltd INC
—
Deed Of Trust
related
—
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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