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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Garden apartment buildings
2075 Water St, Lebanon, PA 17046-1881
Entity Owned
5-yr Hold
Free & Clear
Property ID
US73-3490594
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2003
Total area
15,815 SF
Lot
3.7 ac (161,172 SF)
APN
27-2328919-376649-0000
UPID
US73-3490594
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
-
Deer Lake Apartments Apartment Building Low Income Housing Program
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.58M
CAP Approach
CAP
$2.02M
Comparable Approach
Comparable
$1.69M
Blend (final)
Blend
$1.65M
Owner & transaction history
Tc4 LP · 5 yrs held
Tc4 LP
since 2020
Last sale
$1.6M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+102.8%
Auto repair, garage
$2.1M
+74.8%
Medical building
$1.8M
+54.3%
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 Lebanon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lebanon 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
$1,740,000
ML approach
$1,580,000
CAP Approach
CAP Return
Estimation
6%
$2,190,000
6.5%
$2,020,000
7%
$1,875,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,190,000
Current use
RESTAURANT
$2,410,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,080,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$1,835,000
Change: +54% · Conversion: Moderate
RETAIL STORES
$1,465,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,145,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$1,120,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±10% · vs last sale $1.61M (Dec 18 2020)
Last sale anchor
$1.61M
Dec 18 2020
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
$104 / 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
$36,030
Tax year 2024
Assessed value
$1,593,400
Assessed 2024
Previous assessed
$1,593,400
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$430,600
Assessed improvement
$1,162,800
Land market value
$442,094
Improvement market value
$1,193,839
Total market value
$1,635,933
Applied tax rate
2.0000
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
2003
Heating
NONE
Buildings
2
Stories
1
Total area
15,815 SF
Lot
3.7 ac (161,172 SF)
APN
27-2328919-376649-0000
UPID
US73-3490594
Jurisdiction
LEBANON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2003
Heating
NONE
Stories
1
Buildings
2
Lot
3.7 ac
Current owner
From public records · entity-resolved
Tc4 LP
Entity
Free & Clear · 5 yrs held
Mailing address
4-6 W KING ST #4, LANCASTER, PA 17603-3824
Ownership since
2020
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
Dec 30, 2020
—
Tc 4 LP
—
Deed
related
$88,042 · Deer Lake Associates LP
Dec 23, 2020
—
Tc 4 LP
—
Deed
related
$2,202,034 · Pennsylvania Housing Finance Agency
Dec 18, 2020
$1,613,386
Tc4 LP
Deer Lake Associates LP
Deed
—
Aug 21, 2017
—
Deer Lake Associates LP
—
Deed
related
$100,000 · Pennsylvania Housing Finance Agency
—
—
Tc 4 LP
—
Deed Of Trust
related
$88,042 · Deer Lake Associates LP
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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