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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Residential income homes
1150 Mcfarland St, Morristown, TN 37814-3462
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1627914
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1975
Total area
15,382 SF
Lot
16.25 ac (707,850 SF)
APN
032033F A 00500
UPID
US80-1627914
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
Current use
Occupant on record · Public records
-
Best Mates LLC Real Estate Agency
-
Summit Apartments Apartment Complex
-
East Tennessee Travel Travel Agency
-
The Slummit Apartment Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$965k
Owner & transaction history
Robert G Higgins Family LLC · 21 yrs held
Robert G Higgins Family LLC
since 2005
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+55.5%
Commercial (general)
$1.5M
+48.7%
Medical building
$1.4M
+39.1%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,035,000
Current use
AUTO REPAIR, GARAGE
$1,605,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,535,000
Change: +49% · Conversion: Moderate
MEDICAL BUILDING
$1,435,000
Change: +39% · Conversion: Moderate
RESTAURANT
$1,200,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,065,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$63 / 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
Property tax & assessments
Assessed value
$2,026,400
Assessed 2023
Previous assessed
$2,026,400
+0.0% YoY
Assessed land
$132,520
Assessed improvement
$1,893,880
Land market value
$331,300
Improvement market value
$4,734,700
Total market value
$5,066,000
Applied tax rate
32.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1975
Heating
YES
Cooling
YES
Buildings
21
Stories
1
Units
1
Rooms
1
Bathrooms
99
Total area
15,382 SF
Lot
16.25 ac (707,850 SF)
APN
032033F A 00500
UPID
US80-1627914
Jurisdiction
HAMBLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
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
1975
Heating
YES
Cooling
Yes
Stories
1
Buildings
21
Units
1
Rooms
1
Bathrooms
99
Lot
16.25 ac
Current owner
From public records · entity-resolved
Robert G Higgins Family LLC
Entity
Free & Clear · 21 yrs held
Mailing address
2021 CEDAR CT, LAKE OSWEGO, OR 97034-5807
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2005
$3,100,000
Robert G Higgins Family LLC
Hearthstone Partners Ltd
Warranty Deed
—
Apr 6, 2005
—
Robert G Higgins Family LLC
Hearthstone Partners Ltd
Trustees Deed
$3,175,000 · Suntrust Bank NA
Apr 26, 2004
—
Hearthstone Partners Ltd
Hearthstone Partners Ltd
Quit Claim Deed
related
$2,100,000 · First Tennessee Bank National
Sep 4, 1992
$40,000
Hearthstone Partners Ltd
Unknown
Grant Deed
—
Nov 19, 1991
$44,006
George O Haggard JR
Unknown,
Grant Deed
—
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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