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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Garden apartment buildings
1111 Alma St, Durham, NC 27703-1642
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0049639
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1987
Total area
3,000 SF
Lot
0.35 ac (15,246 SF)
Zoning code
RS-M
APN
113100
UPID
US53-0049639
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
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$899k
Blend (final)
Blend
$700k
Owner & transaction history
Sarathy LLC · 1 yrs held
Sarathy LLC
since 2024
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
RS-M · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$875,000
+9.3%
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 Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham 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
$700,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$800,000
Current use
AUTO REPAIR, GARAGE
$875,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$735,000
Change: -8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$730,000
Change: -9% · Conversion: Moderate
OFFICE BUILDING
$685,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $700k (Aug 16 2024)
Last sale anchor
$700k
Aug 16 2024
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
$233 / 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
$2,722
Tax year 2023
Assessed value
$195,171
Assessed 2024
Previous assessed
$195,171
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$30,000
Assessed improvement
$165,171
Land market value
$30,000
Improvement market value
$165,171
Total market value
$195,171
Applied tax rate
1.0000
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
1987
Heating
YES
Cooling
YES
Stories
2
Total area
3,000 SF
Lot
0.35 ac (15,246 SF)
Zoning code
RS-M
APN
113100
UPID
US53-0049639
Jurisdiction
DURHAM
Zoning & alternative use
RS-M · Durham, NC
Zoning RS-M · permitted uses
RS-M · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$875,000
RETAIL STORES
Est. value
$735,000
COMMERCIAL (GENERAL)
Est. value
$730,000
OFFICE BUILDING
Est. value
$685,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE 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
1987
Heating
YES
Cooling
Yes
Stories
2
Lot
0.35 ac
Current owner
From public records · entity-resolved
Sarathy LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3434 KILDAIRE FARM RD STE #135, CARY, NC 27518-2278
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2024
$700,000
Sarathy LLC
Andrea Shaw
Warranty Deed
—
Nov 23, 2020
—
Andrea Robin Shaw
—
Deed
related
$328,300 · Corporate Investors Mortgage Group INC
Feb 25, 2019
—
Andrea Shaw
—
Deed
related
$325,000 · Quicken Lns
Oct 24, 2016
$195,000
Andrea Shaw
Zachary Eugene Clarke
Warranty Deed
$146,250 · North State Bank
Jun 8, 2015
$145,000
Zachary Eugene Clarke
Anr LLC
Warranty Deed
$145,000 · Carrington Mortgage Services LLC
Dec 30, 2010
—
Anr LLC
Sandhu,shabeg S & Surinder P
Grant Deed
related
—
Dec 5, 2008
$140,000
Shabeg Sandhu
Montys Properties LLC
Grant Deed
$140,000 · Harrington Bank Fsb
—
—
Andrea Shaw
—
Deed Of Trust
related
$325,000 · Quicken Lns
—
—
Shabeg Sandhu
—
Deed Of Trust
related
$100,000 · Harrington Bank Fsb
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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