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Property profile & analytics
OFF-MARKET
Estimated value
$5,415,000
Garden apartment buildings
2102 Smt Vw Ln Charlotte, NC
Entity Owned
5-yr Hold
Property ID
US53-2212207
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1960
Total area
333,498 SF
Lot
17.66 ac (769,095 SF)
Zoning code
R3
APN
5111104
UPID
US53-2212207
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
$6.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.42M
Owner & transaction history
Lennar Carolinas LLC · 5 yrs held
Lennar Carolinas LLC
since 2020
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
R3 · Charlotte, 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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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
$5,580,000
ML approach
$6,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.42M
Range $4.87M – $5.96M · ±10% · vs last sale $4.82M (Dec 18 2020)
Last sale anchor
$4.82M
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
$16 / 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
$340,923
Tax year 2023
Assessed value
$46,479,000
Assessed 2024
Previous assessed
$17,163,200
+170.8% YoY
Effective rate
0.73%
On assessed value
Assessed land
$5,171,800
Assessed improvement
$41,307,200
Land market value
$5,171,800
Improvement market value
$41,307,200
Total market value
$46,479,000
Applied tax rate
8.0000
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
1960
Heating
STEAM
Cooling
YES
Buildings
13
Stories
3
Total area
333,498 SF
Lot
17.66 ac (769,095 SF)
Zoning code
R3
APN
5111104
UPID
US53-2212207
Jurisdiction
MECKLENBURG
Zoning & alternative use
R3 · Charlotte, NC
Zoning R3 · permitted uses
R3 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Heating
STEAM
Cooling
Yes
Stories
3
Buildings
13
Lot
17.66 ac
Current owner
From public records · entity-resolved
Lennar Carolinas LLC
Entity
Mailing address
310 E 96TH ST STE #400, INDIANAPOLIS, IN 46240-0120
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
—
Spire Apartments LLC
—
Deed
related
$56,500,000 · D2 Financial LLC
May 20, 2021
—
Spire Apartments LLC
—
Deed
related
$47,110,000 · Protective Life Insurance Co
Dec 18, 2020
$4,140,000
Lennar Carolinas LLC
K Sade Ventures LLC
Grant Deed
—
Dec 18, 2020
$4,820,000
Spire Apartments LLC
Samuel C Johnson
Warranty Deed
—
Dec 18, 2020
$4,300,000
K Sade Ventures LLC
Samuel C Johnson
Warranty Deed
—
Dec 20, 2018
—
Samuel C Johnson
Johnson Farming LP
Quit Claim Deed
—
Apr 14, 2016
—
Johnson Farming LP
Johnson,cody C
Quit Claim Deed
related
—
Aug 1, 2014
—
Johnson Farming LP
Johnson,shirley L
Quit Claim Deed
related
—
May 13, 2010
—
Johnson Farming LP
Johnson,shirley L
Quit Claim Deed
—
May 26, 1999
$9,000
U,c LLC
Johnson,j Thomas
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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