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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Garden apartment buildings
108 Auburn Ln, Statesville, NC 28625-4464
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-1106441
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2018
Construction
WOOD
Total area
10,678 SF
Lot
21.51 ac (937,150 SF)
Zoning code
R-5MF
APN
4745-90-1051.000
UPID
US53-1106441
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
$890k
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.20M
Owner & transaction history
Ridgeview Apartments LLC · 5 yrs held
Ridgeview Apartments LLC
since 2020
4 recorded transactions
Zoning & alternative use
R-5MF · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$890,000
CAP Approach
CAP Return
Estimation
6%
$1,620,000
6.5%
$1,495,000
7%
$1,385,000
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±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
$112 / 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
$362,554
Tax year 2023
Assessed value
$33,965,630
Assessed 2023
Previous assessed
$17,806,200
+90.8% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,290,840
Assessed improvement
$32,674,790
Land market value
$1,290,840
Improvement market value
$32,674,790
Total market value
$33,965,630
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
2018
Construction
WOOD
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
17
Stories
2
Units
8
Bathrooms
2
Total area
10,678 SF
Lot
21.51 ac (937,150 SF)
Zoning code
R-5MF
APN
4745-90-1051.000
UPID
US53-1106441
Jurisdiction
IREDELL
Zoning & alternative use
R-5MF · Statesville, NC
Zoning R-5MF · permitted uses
R-5MF · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2018
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
17
Units
8
Bathrooms
2
Lot
21.51 ac
Current owner
From public records · entity-resolved
Ridgeview Apartments LLC
Entity
Mailing address
PO BOX 38848, GREENSBORO, NC 27438-8848
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2020
—
Ridgeview Apartments LLC
—
Deed
related
$24,245,000 · Walker & Dunlop
Feb 27, 2020
—
Ridgeview Apartments LLC
—
Deed
related
$23,160,000 · First Bk
—
—
Ridgeview Apartments LLC
—
Deed Of Trust
related
$23,160,000 · First Bk
—
—
Ridgeview Apartments LLC
—
Deed Of Trust
related
$24,245,000 · Walker & Dunlop
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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