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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Garden apartment buildings
1303 Drew St Durham, NC 27701-0036
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5357937
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1984
Total area
3,000 SF
Lot
0.36 ac (15,682 SF)
Zoning code
RU-5(2)
APN
113376
UPID
US53-5357937
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
$750k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$867k
Blend (final)
Blend
$750k
Owner & transaction history
Janee Bethea · 2 yrs held
Janee Bethea
since 2024
Last sale
$750,000
7 recorded transactions
Zoning & alternative use
RU-5(2) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5 2 Duplexes Allowed
General category
CIVIC_INSTITUTIONAL
Zone area
1,797.04 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.2M
+4.4%
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
$750,000
ML approach
$750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,110,000
Current use
COMMERCIAL (GENERAL)
$1,155,000
Change: +4% · Conversion: Moderate
OFFICE BUILDING
$1,025,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Jan 3 2024)
Last sale anchor
$750k
Jan 3 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
$250 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,747
Tax year 2024
Assessed value
$196,902
Assessed 2024
Previous assessed
$196,902
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$40,000
Assessed improvement
$156,902
Land market value
$40,000
Improvement market value
$156,902
Total market value
$196,902
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
1984
Heating
FLOOR/WALL FURNACE
Cooling
YES
Stories
2
Rooms
10
Bathrooms
4
Total area
3,000 SF
Lot
0.36 ac (15,682 SF)
Zoning code
RU-5(2)
APN
113376
UPID
US53-5357937
Jurisdiction
DURHAM
Zoning & alternative use
RU-5(2) · Durham, NCZoning RU-5(2) · permitted uses
RU-5(2) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5 2 Duplexes Allowed
General category
CIVIC_INSTITUTIONAL
Zone area
1,797.04 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1984
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Rooms
10
Bathrooms
4
Lot
0.36 ac
Current owner
From public records · entity-resolved
Janee Bethea
Individual
Mailing address
1303 DREW ST, DURHAM, NC 27701-0036
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
$750,000
Janee Bethea
J & P Builders LLC
Warranty Deed
$766,409 · Bank Of America NA
May 1, 2023
$450,000
J & P Builders LLC
Vivek Gulati
Warranty Deed
$521,500 · Rflf 4 LLC
Sep 29, 2008
$97,500
Vivek Gulati
U S Bank National Associat
Grant Deed
$95,993 · Corporate Investors Mtg Group
Sep 25, 2008
—
U S Bank National Association
Suntrust Mtg INC
Grant Deed
related
—
Jul 21, 2008
$99,000
Suntrust Mortgage INC
Nationwide,trustee Service
Grant Deed
related
—
Feb 20, 2008
—
Nationwide Trustee Services In
Sanchez,guillermo
Grant Deed
related
—
Apr 27, 2006
$114,000
Guillermo Sanchez
Charles A Reinhardt JR
Warranty Deed
$91,200 · Suntrust Mortgage INC
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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