Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,660,000
Garden apartment buildings
1516 Savannah Pl Dr Durham, NC 27713-8369
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-1688554
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2000
Total area
77,076 SF
Lot
6.73 ac (293,159 SF)
Zoning code
RS-M(D)
APN
152983
UPID
US53-1688554
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
$10.61M
CAP Approach
CAP
$8.92M
Comparable Approach
Comparable
$11.58M
Blend (final)
Blend
$11.66M
Owner & transaction history
Savannah Nc Harmony Housing LLC
Savannah Nc Harmony Housing LLC
since 2026
Last sale
$13.6M
3 recorded transactions
Zoning & alternative use
RS-M(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
1,317.95 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
Method
Estimation
Statistic approach
by Request
ML approach
$10,610,000
CAP Approach
CAP Return
Estimation
6%
$9,655,000
6.5%
$8,915,000
7%
$8,280,000
Blend value · Realmo final
$11.66M
Range $10.49M – $12.83M · ±10% · vs last sale $13.59M (Apr 17 2023)
Last sale anchor
$13.59M
Apr 17 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
$151 / 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
$49,663
Tax year 2024
Assessed value
$3,791,344
Assessed 2024
Previous assessed
$3,791,344
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$840,000
Assessed improvement
$2,951,344
Land market value
$840,000
Improvement market value
$2,951,344
Total market value
$3,791,344
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
2000
Heating
YES
Cooling
YES
Stories
3
Bathrooms
1
Total area
77,076 SF
Lot
6.73 ac (293,159 SF)
Zoning code
RS-M(D)
APN
152983
UPID
US53-1688554
Jurisdiction
DURHAM
Zoning & alternative use
RS-M(D) · Durham, NCZoning RS-M(D) · permitted uses
RS-M(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
1,317.95 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2000
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
1
Lot
6.73 ac
Current owner
From public records · entity-resolved
Savannah Nc Harmony Housing LLC
Entity
Free & Clear · 0 yrs held
Mailing address
6601 VENTNOR AVE STE #23, VENTNOR CITY, NJ 08406-2172
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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 27, 2026
$6,875,000
Savannah Nc Harmony Housing LLC
Savannah Place Essential Housing Ll
Special Warranty Deed
—
Apr 17, 2023
$13,594,000
Savannah Place Essential Hoijsing L
Savannah Harmony Housing LLC
Special Warranty Deed
$4,786,602 · Federal National Mortgage Association
Nov 13, 2020
$5,198,000
Savannah Harmony Housing LLC
Savannah Place Apartments LLC
Special Warranty Deed
$23,656,000 · Key Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1516 Savannah Pl Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
