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Property profile & analytics
OFF-MARKET
Estimated value
$30,220,000
Garden apartment buildings
1308 Steinbeck Dr, Raleigh, NC 27609-0026
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-1894912
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
15,624 SF
Lot
15.42 ac (671,695 SF)
Zoning code
RX-3
APN
1716.18-30-7660 0020954
UPID
US53-1894912
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
-
UnHeard Radio Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.70M
Blend (final)
Blend
$30.22M
Owner & transaction history
Bridge Wf II Nc Tree Top LLC · 5 yrs held
Bridge Wf II Nc Tree Top LLC
since 2021
Last sale
$31.5M
5 recorded transactions
Zoning & alternative use
RX-3 · Raleigh, 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 Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh 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
$39,035,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$30.22M
Range $27.20M – $33.24M · ±10% · vs last sale $31.50M (Jul 2 2021)
Last sale anchor
$31.50M
Jul 2 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
$1,934 / 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
$265,949
Tax year 2023
Assessed value
$24,020,984
Assessed 2023
Previous assessed
$24,020,984
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$6,180,000
Assessed improvement
$17,840,984
Land market value
$6,180,000
Improvement market value
$17,840,984
Total market value
$24,020,984
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
1972
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
16
Rooms
676
Total area
15,624 SF
Lot
15.42 ac (671,695 SF)
Zoning code
RX-3
APN
1716.18-30-7660 0020954
UPID
US53-1894912
Jurisdiction
WAKE
Zoning & alternative use
RX-3 · Raleigh, NC
Zoning RX-3 · permitted uses
RX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Raleigh. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1972
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
16
Rooms
676
Lot
15.42 ac
Current owner
From public records · entity-resolved
Bridge Wf II Nc Tree Top LLC
Entity
Mailing address
111 E SEGO LILY DR STE #400, SANDY, UT 84070-4422
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2021
$31,500,000
Bridge Wf II Nc Tree Top LLC
Treetop Raleigh LLC
Special Warranty Deed
$24,059,530 · Washington Federal NA
Oct 28, 2016
—
Treetop Raleigh LLC
—
Deed
related
$11,000,000 · Capital One Multifamily Fin
Nov 7, 2014
—
Treetop Raleigh LLC
—
Grant Deed
related
$10,000,000 · Capital One NA
—
—
Treetop Raleigh LLC
—
Deed Of Trust
related
$11,000,000 · Capital One Multifamily Fin
—
—
Treetop Associates
—
Deed Of Trust
related
$5,100,000 · Gmac Commercial Mortgage Bank
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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