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Property profile & analytics
OFF-MARKET
Estimated value
$5,450,000
Garden apartment buildings
1808 Chapel Hl Rd Durham, NC 27707-1139
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2431544
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1969
Total area
46,464 SF
Lot
1.76 ac (76,666 SF)
Zoning code
RU-M
APN
108487
UPID
US53-2431544
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
Current use
Occupant on record · Public records
-
Uncle Micky Freight Service Logistics Company
-
DRS Landscaping LLC Landscaping General Contractor
-
Peloncito LLC Landscaping General Contractor
-
The Edge at West End Apartment Complex
-
Chesterfield Apartment Homes Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.87M
CAP Approach
CAP
$5.38M
Comparable Approach
Comparable
$4.63M
Blend (final)
Blend
$5.45M
Owner & transaction history
Edgewood Properties LLC · 2 yrs held
Edgewood Properties LLC
since 2023
Last sale
$5.3M
7 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
Method
Estimation
Statistic approach
$6,620,000
ML approach
$6,865,000
CAP Approach
CAP Return
Estimation
6%
$5,820,000
6.5%
$5,375,000
7%
$4,990,000
Blend value · Realmo final
$5.45M
Range $4.91M – $6.00M · ±10% · vs last sale $5.31M (Dec 1 2023)
Last sale anchor
$5.31M
Dec 1 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
$117 / 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
$58,538
Tax year 2024
Assessed value
$4,196,587
Assessed 2024
Previous assessed
$4,196,587
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$540,000
Assessed improvement
$3,656,587
Land market value
$540,000
Improvement market value
$3,656,587
Total market value
$4,196,587
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
1969
Heating
YES
Cooling
YES
Stories
2
Total area
46,464 SF
Lot
1.76 ac (76,666 SF)
Zoning code
RU-M
APN
108487
UPID
US53-2431544
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
1969
Heating
YES
Cooling
Yes
Stories
2
Lot
1.76 ac
Current owner
From public records · entity-resolved
Edgewood Properties LLC
Entity
Mailing address
1811 CHAPEL HL RD, DURHAM, NC 27707-1105
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Dec 1, 2023
$5,313,000
Edgewood Properties LLC
Durham Apartments Portfolio LLC
Special Warranty Deed
$3,400,000 · The Fidelity Bank
Dec 20, 2021
$12,700,000
Durham Apartments Portfolio LLC
D T I Garden Terrace LLC
Special Warranty Deed
—
Dec 20, 2021
—
Durham Apartments Portfolio LLC
—
Deed
related
$11,990,000 · Arbor Realty SR INC
May 15, 2018
$4,330,000
D T I 1808 Chapel Hill Rd LLC
Princeton Villas LLC
Special Warranty Deed
—
May 15, 2018
—
D T I 1808 Chapel Hill Rd LLC
Princeton Villas LLC
Warranty Deed
$300,000 · Paragon Bank
Oct 2, 2015
$6,000,000
Princeton Villas LLC
Vac Lllp
Trustees Deed
$7,000,000 · Arbor Realty SR
Oct 2, 2015
—
Princeton Villas 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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