Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Garden apartment buildings
1051 3rd SE St Hickory, NC 28602-3642
Entity Owned
~
Est. High Equity
Property ID
US53-1320025
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1981
Construction
WOOD
Total area
4,816 SF
Lot
3.77 ac (164,221 SF)
Zoning code
R-4
APN
3702-15-74-4973
UPID
US53-1320025
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
$1.05M
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$843k
Blend (final)
Blend
$965k
Owner & transaction history
Sycamore Apartments Hickory LLC
Sycamore Apartments Hickory LLC
since 2026
Last sale
$920,000
7 recorded transactions
Zoning & alternative use
R-4 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$915,000
+83.0%
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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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
$1,080,000
ML approach
$1,050,000
CAP Approach
CAP Return
Estimation
6%
$675,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$915,000
Change: +83% · Conversion: Moderate
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $920k (Nov 1 2023)
Last sale anchor
$920k
Nov 1 2023
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
$200 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,063
Tax year 2023
Assessed value
$710,400
Assessed 2023
Previous assessed
$710,400
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$47,900
Assessed improvement
$662,500
Land market value
$47,900
Improvement market value
$662,500
Total market value
$710,400
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
1981
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
5
Total area
4,816 SF
Lot
3.77 ac (164,221 SF)
Zoning code
R-4
APN
3702-15-74-4973
UPID
US53-1320025
Jurisdiction
CATAWBA
Zoning & alternative use
R-4 · Hickory, NC
Zoning R-4 · permitted uses
R-4 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$915,000
MEDICAL 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
1981
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
5
Lot
3.77 ac
Current owner
From public records · entity-resolved
Sycamore Apartments Hickory LLC
Entity
Mailing address
513 N ORCH DR, LEHI, UT 84043-6430
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2026
$1,057,000
Sycamore Apartments Hickory LLC
Rusape LLC
Warranty Deed
$696,000 · Trupoint Bank
Nov 1, 2023
$920,000
Rusape LLC
David C Johnson
Warranty Deed
—
Jul 15, 2022
—
David C Johnson
David C Johnson
Intrafamily Transfer
related
—
Mar 29, 2007
$427,500
David C Johnson
Anthony Construction Co LLC
Warranty Deed
$120,000 · Anthony Construction Co LLC
Mar 23, 2006
—
David C Johnson
Anthony Construction Compa
Grant Deed
related
—
Aug 4, 2005
$315,000
Anthony Construction Co LLC
Alpha Investment Co
Warranty Deed
$250,000 · Capital Bank
—
—
David C Johnson
—
Deed Of Trust
related
$200,000 · Us Bk
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 1051 3rd SE St?
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.
