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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Garden apartment buildings
1402 Stovall Dr, Raleigh, NC 27606-2842
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1150371
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1971
Construction
FRAME
Total area
2,905 SF
Lot
1.94 ac (84,506 SF)
Zoning code
RX-3
APN
0793.05-18-8405 0047657
UPID
US53-1150371
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
$1.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.21M
Owner & transaction history
3900 Marcom LLC · 3 yrs held
3900 Marcom LLC
since 2023
Last sale
$1.2M
7 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
$1,175,000
ML approach
$1,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±10% · vs last sale $1.22M (Apr 12 2023)
Last sale anchor
$1.22M
Apr 12 2023
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
$415 / 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
$24,564
Tax year 2023
Assessed value
$2,202,198
Assessed 2023
Previous assessed
$2,202,198
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$840,000
Assessed improvement
$1,362,198
Land market value
$840,000
Improvement market value
$1,362,198
Total market value
$2,202,198
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
1971
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
4
Rooms
84
Total area
2,905 SF
Lot
1.94 ac (84,506 SF)
Zoning code
RX-3
APN
0793.05-18-8405 0047657
UPID
US53-1150371
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
1971
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
4
Rooms
84
Lot
1.94 ac
Current owner
From public records · entity-resolved
3900 Marcom LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1100 WILSON BLVD STE #210, ARLINGTON, VA 22209-2249
Ownership since
2023
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
Apr 12, 2023
$24,175,000
3900 Marcom LLC
Rbg Grove Associates LLC
Special Warranty Deed
—
Dec 8, 2016
—
3900 Marcom LLC
—
Deed
related
$12,750,000 · Arbor Com'l Fndg I LLC
Dec 23, 2014
$1,220,000
3900 Marcom LLC
Lucas,kenneth A & Dawn S
Grant Deed
—
Dec 23, 2014
—
3900 Marcom LLC
Lucas,kenneth A & Dawn S
Grant Deed
related
$10,000,000 · Arbor Realty SR
Jul 31, 2006
—
Kenneth A Lucas
—
Grant Deed
related
$6,750,000 · Suntrust Bank NA
—
—
3900 Marcom LLC
—
Deed Of Trust
related
$12,750,000 · Arbor Com'l Fndg I LLC
—
—
Kenneth A Lucas
—
Deed Of Trust
related
$884,000 · Paragon Commercial 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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