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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Garden apartment buildings
1804 Simonton Rd 1878, Statesville, NC 28625-4818
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2361865
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
5,888 SF
Lot
10.01 ac (435,948 SF)
Zoning code
R-5MF
APN
4755-01-9240.000
UPID
US53-2361865
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
$670k
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$720k
Owner & transaction history
Mallard Creek Apartments LLC · 2 yrs held
Mallard Creek Apartments LLC
since 2024
5 recorded transactions
Zoning & alternative use
R-5MF · Statesville, 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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$670,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$825,000
7%
$765,000
Blend value · Realmo final
$720k
Range $648k – $792k · ±10%
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
$122 / 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
$58,575
Tax year 2023
Assessed value
$4,812,760
Assessed 2023
Previous assessed
$4,393,240
+9.5% YoY
Effective rate
1.22%
On assessed value
Assessed land
$247,700
Assessed improvement
$4,565,060
Land market value
$247,700
Improvement market value
$4,565,060
Total market value
$4,812,760
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
1985
Construction
WOOD
Heating
BASEBOARD
Cooling
NONE
Buildings
7
Stories
2
Units
8
Rooms
330
Bathrooms
2
Total area
5,888 SF
Lot
10.01 ac (435,948 SF)
Zoning code
R-5MF
APN
4755-01-9240.000
UPID
US53-2361865
Jurisdiction
IREDELL
Zoning & alternative use
R-5MF · Statesville, NC
Zoning R-5MF · permitted uses
R-5MF · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
WOOD
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
7
Units
8
Rooms
330
Bathrooms
2
Lot
10.01 ac
Current owner
From public records · entity-resolved
Mallard Creek Apartments LLC
Entity
Mailing address
6203 WESCOTT DR, SUMMERFIELD, NC 27358-9072
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Mar 21, 2024
—
Mallard Creek Apartments LLC
—
Deed
related
$7,200,000 · Northmarq Capital Finance LLC
Mar 6, 2020
—
Mallard Creek Apartments LLC
—
Deed
related
$3,100,000 · Private Individual
Mar 25, 2019
—
Mallard Creek Apartments LLC
—
Deed
related
$2,650,000 · United Community Bank
—
—
Mallard Creek Apartments LLC
—
Deed Of Trust
related
$3,100,000 · Private Individual
—
—
Mallard Creek Apartments LLC
—
Deed Of Trust
related
$3,100,000 · Greystone Servicing Corp
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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