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Property profile & analytics
OFF-MARKET
Estimated value
$12,910,000
Apartment buildings
12970 Nettles Dr Newport News, VA 23602-6914
Individually Owned
4-yr Hold
Free & Clear
Property ID
US87-0639653
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Total area
2,931 SF
Lot
9.8 ac (426,888 SF)
Zoning code
R7
APN
160000205
UPID
US87-0639653
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
$9.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.91M
Owner & transaction history
Wendwood Square Apartments Owner Ll · 4 yrs held
Wendwood Square Apartments Owner Ll
since 2021
Last sale
$15.8M
3 recorded transactions
Zoning & alternative use
R7 · Newport News, VA
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 Newport News submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport News 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
$9,485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.91M
Range $11.62M – $14.20M · ±10% · vs last sale $15.75M (Sep 10 2021)
Last sale anchor
$15.75M
Sep 10 2021
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
$4,405 / 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
$210,102
Tax year 2023
Assessed value
$17,010,000
Assessed 2023
Previous assessed
$17,010,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$2,280,000
Assessed improvement
$14,730,000
Land market value
$2,280,000
Improvement market value
$14,730,000
Total market value
$17,010,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1975
Heating
NONE
Units
152
Bathrooms
4
Total area
2,931 SF
Lot
9.8 ac (426,888 SF)
Zoning code
R7
APN
160000205
UPID
US87-0639653
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
R7 · Newport News, VA
Zoning R7 · permitted uses
R7 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport News. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Units
152
Bathrooms
4
Lot
9.8 ac
Current owner
From public records · entity-resolved
Wendwood Square Apartments Owner Ll
Individual
Free & Clear · 4 yrs held
Mailing address
32 CROSS ST STE #200, LAKEWOOD, NJ 08701-5572
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2023
—
Wendwood Square Apartments Owner Ll
—
Deed
related
$27,000,000 · Santander Bank NA
Sep 10, 2021
$15,750,000
Wendwood Square Apartments Owner Ll
Wendwood Square Two LLC
Special Warranty Deed
—
Apr 30, 2015
—
Wendwood Square Two LLC
Wendwood Square Two LLC
Quit Claim Deed
related
$1,806,000 · Branch Bk&tr
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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