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Property profile & analytics
OFF-MARKET
Garden apartment buildings
1505 Duke University Rd Durham, NC 27701-2961
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1043237
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1971
Total area
82,038 SF
Lot
3.14 ac (136,778 SF)
Zoning code
RU-M
APN
108599
UPID
US53-1043237
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Durham Holdings 360 LLC · 4 yrs held
Durham Holdings 360 LLC
since 2021
Last sale
$53.9M
4 recorded transactions
Zoning & alternative use
RU-M · 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 Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
805.71 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$89,952
Tax year 2024
Assessed value
$6,448,624
Assessed 2024
Previous assessed
$6,448,624
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,080,000
Assessed improvement
$5,368,624
Land market value
$1,080,000
Improvement market value
$5,368,624
Total market value
$6,448,624
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
1971
Heating
YES
Cooling
YES
Stories
3
Total area
82,038 SF
Lot
3.14 ac (136,778 SF)
Zoning code
RU-M
APN
108599
UPID
US53-1043237
Jurisdiction
DURHAM
Zoning & alternative use
RU-M · Durham, NCZoning RU-M · permitted uses
RU-M · 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 Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
805.71 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1971
Heating
YES
Cooling
Yes
Stories
3
Lot
3.14 ac
Current owner
From public records · entity-resolved
Durham Holdings 360 LLC
Entity
Mailing address
300 FRANK W BURR BLVD STE #68, TEANECK, NJ 07666-6703
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
$53,850,000
Durham Holdings 360 LLC
University Durham Owner LLC
Special Warranty Deed
$50,000,000 · Arbor Realty SR INC
Jul 14, 2021
$42,400,000
University Durham Owner LLC
Mam Durham LLC
Special Warranty Deed
$38,160,000 · Greystone Servicing Company LLC
Jul 28, 2016
—
Mam-durham LLC
Cdc-durham Of Uc LLC
Grant Deed
—
Mar 3, 2011
$7,410,000
Cdc-durham\uc LLC
Vac Lllp
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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