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Property profile & analytics
OFF-MARKET
Estimated value
$4,090,000
Garden apartment buildings
200 Appledown Dr Cary, NC 27513
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1326535
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1995
Construction
FRAME
Total area
11,438 SF
Lot
17.82 ac (776,239 SF)
Zoning code
RMFP
APN
0764.12-76-9868 0044033
UPID
US53-1326535
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
$4.09M
Owner & transaction history
Tlbh Gregory South Owner LP · 4 yrs held
Tlbh Gregory South Owner LP
since 2021
3 recorded transactions
Zoning & alternative use
RMFP · Cary, 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 Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary 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
$358 / 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
$353,145
Tax year 2024
Assessed value
$41,601,102
Assessed 2024
Previous assessed
$41,601,102
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$9,450,000
Assessed improvement
$32,151,102
Land market value
$9,450,000
Improvement market value
$32,151,102
Total market value
$41,601,102
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
1995
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
12
Rooms
876
Total area
11,438 SF
Lot
17.82 ac (776,239 SF)
Zoning code
RMFP
APN
0764.12-76-9868 0044033
UPID
US53-1326535
Jurisdiction
WAKE
Zoning & alternative use
RMFP · Cary, NC
Zoning RMFP · permitted uses
RMFP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1995
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
12
Rooms
876
Lot
17.82 ac
Current owner
From public records · entity-resolved
Tlbh Gregory South Owner LP
Entity
Free & Clear · 4 yrs held
Mailing address
400 LOCUST ST STE #790, DES MOINES, IA 50309-2347
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2021
$55,000,000
Tlbh Gregory South Owner LP
Semf Watercrest LLC
Special Warranty Deed
—
Aug 16, 2016
—
Semf Watercress LLC
—
Grant Deed
related
$29,267,000 · Walker & Dunlop
Mar 16, 2010
$19,000,000
Star Of Somer Woodbridge LLC
Eqr-plantation LLC
Grant Deed
$15,360,000 · Cwcapital LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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