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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Garden apartment buildings
1802 Polly Reed Dr Center Point, AL 35215-0620
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US03-0084238
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1969
Total area
7,986 SF
Lot
1.61 ac (69,914 SF)
Zoning code
C1R4
APN
12-00-18-4-004-028.000
UPID
US03-0084238
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
$1.11M
CAP Approach
CAP
$885k
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$990k
Owner & transaction history
1805 Polly Reed LLC · 3 yrs held
1805 Polly Reed LLC
since 2022
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
C1R4 · Center Point, AL
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 Center Point submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Center Point 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
$1,020,000
ML approach
$1,110,000
CAP Approach
CAP Return
Estimation
6%
$960,000
6.5%
$885,000
7%
$825,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,610,000
Current use
MEDICAL BUILDING
$1,420,000
Change: -12% · Conversion: Moderate
OFFICE BUILDING
$1,335,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $1.32M (Nov 2 2022)
Last sale anchor
$1.32M
Nov 2 2022
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
$124 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$4,313
Tax year 2022
Assessed value
$277,060
Assessed 2023
Previous assessed
$78,280
+253.9% YoY
Effective rate
1.56%
On assessed value
Assessed land
$20,980
Assessed improvement
$256,080
Land market value
$104,900
Improvement market value
$1,280,400
Total market value
$1,385,300
Applied tax rate
47.0000
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
1969
Heating
GRAVITY
Stories
2
Rooms
10
Bathrooms
2
Total area
7,986 SF
Lot
1.61 ac (69,914 SF)
Zoning code
C1R4
APN
12-00-18-4-004-028.000
UPID
US03-0084238
Jurisdiction
JEFFERSON
Zoning & alternative use
C1R4 · Center Point, ALZoning C1R4 · permitted uses
C1R4 · Center Point, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1969
Heating
GRAVITY
Stories
2
Rooms
10
Bathrooms
2
Lot
1.61 ac
Current owner
From public records · entity-resolved
1805 Polly Reed LLC
Entity
Mailing address
PO BOX 191097, ROXBURY, MA 02119-0022
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
$1,320,000
1805 Polly Reed LLC
Madison Earl Development LLC
Warranty Deed
$1,056,000 · Avadian Credit Union
Nov 17, 2015
$460,000
Polly Reed Villas LLC
Lollypop LLC
Warranty Deed
—
Apr 3, 2014
$300,000
Lollypop LLC
Jacobson,melba B
Warranty Deed
—
Feb 27, 2014
$192,500
Melba B Jacobson
1805 Polly Reed Road-330151614
Warranty Deed
—
—
—
Melba B Jacobson
—
Deed Of Trust
related
$250,000 · Don Munk
—
—
Mackay,patricia A
—
Deed Of Trust
related
$549,474 · Impac Com'l Cap
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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