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Property profile & analytics
OFF-MARKET
Estimated value
$9,475,000
Garden apartment buildings
1113 Seigle Ave, Charlotte, NC 28205-2748
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1307770
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1936
Total area
29,685 SF
Lot
0.48 ac (21,073 SF)
Zoning code
R5
APN
8109913
UPID
US53-1307770
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
$9.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.93M
Blend (final)
Blend
$9.48M
Owner & transaction history
Milnorth LLC · 1 yrs held
Milnorth LLC
since 2024
Last sale
$9.5M
7 recorded transactions
Zoning & alternative use
R5 · Charlotte, 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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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
$9,475,000
ML approach
$9,475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$14,265,000
Current use
MEDICAL BUILDING
$11,965,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$9.48M
Range $8.53M – $10.42M · ±10% · vs last sale $9.48M (Nov 15 2024)
Last sale anchor
$9.48M
Nov 15 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
$319 / 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
$61,635
Tax year 2023
Assessed value
$8,402,800
Assessed 2024
Previous assessed
$310,100
+2,609.7% YoY
Effective rate
0.73%
On assessed value
Assessed land
$836,400
Assessed improvement
$7,566,400
Land market value
$836,400
Improvement market value
$7,566,400
Total market value
$8,402,800
Applied tax rate
8.0000
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
1936
Heating
YES
Cooling
YES
Buildings
2
Stories
3
Bathrooms
2
Total area
29,685 SF
Lot
0.48 ac (21,073 SF)
Zoning code
R5
APN
8109913
UPID
US53-1307770
Jurisdiction
MECKLENBURG
Zoning & alternative use
R5 · Charlotte, NC
Zoning R5 · permitted uses
R5 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$14.3M
MEDICAL BUILDING
Est. value
$12.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1936
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Bathrooms
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
Milnorth LLC
Entity
Mailing address
436 E 36TH ST, CHARLOTTE, NC 28205-1030
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
Nov 15, 2024
$9,475,000
Milnorth LLC
1115 Seigle LLC
Special Warranty Deed
$45,610,000 · Jll Real Estate4 Capital LLC
Jun 11, 2021
—
1115 Seigle LLC
1121 Seigle LLC
Quit Claim Deed
related
$7,190,000 · Techo Funding Corp LLC
Jun 18, 2020
—
1121 Seigle LLC
—
Deed
related
$450,000 · Alfie Investors LLC
Dec 4, 2019
—
1121 Seigle LLC
Alltime Factors INC
Deed
$400,000 · Investors Title Exchange Corporatio
Dec 4, 2019
$500,000
1121 Seigle LLC
Alltime Factors INC
Warranty Deed
$400,000 · Alltime Factors INC
Mar 19, 1998
$57,221
Alltime Factors INC
Alltime,factors
Grant Deed
related
—
May 16, 1996
$49,000
Curtis Blakeney
Blakeney,curtis
Grant Deed
related
—
May 15, 1996
—
Curtis Bakeney
—
Deed Of Trust
related
$49,000 · Alltime Factors
—
—
1121 Seigle LLC
—
Deed Of Trust
related
$450,000 · Alfie Investors LLC
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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