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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
High-rise multifamily apartments
2109 Ellis Rd Durham, NC 27703-5501
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2314378
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Lot
29.13 ac (1,268,903 SF)
Zoning code
CG(D)
APN
163385
UPID
US53-2314378
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
-
The village at Ellis Crossing Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$745k
Owner & transaction history
R Lynn Dodson · 3 yrs held
R Lynn Dodson
since 2022
6 recorded transactions
Zoning & alternative use
CG(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CG District is established to provide for a wide variety of commercial activities of varying scales that are designed to be served by major thoroughfares, and other similar high-volume rights-of-way. It is the intent of this district to provide sufficient size and depth of property to meet business needs, yet maintain safe traffic flows. Businesses in th…
Zone name
Commercial General
General category
COMMERCIAL
Zone area
1,042.51 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
by Request
ML approach
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
—
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
$685,926
Tax year 2023
Assessed value
$49,173,858
Assessed 2024
Previous assessed
$49,173,858
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,129,874
Assessed improvement
$48,043,984
Land market value
$1,129,874
Improvement market value
$48,043,984
Total market value
$49,173,858
Applied tax rate
293.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Heating
NONE
Lot
29.13 ac (1,268,903 SF)
Zoning code
CG(D)
APN
163385
UPID
US53-2314378
Jurisdiction
DURHAM
Zoning & alternative use
CG(D) · Durham, NCZoning CG(D) · permitted uses
CG(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CG District is established to provide for a wide variety of commercial activities of varying scales that are designed to be served by major thoroughfares, and other similar high-volume rights-of-way. It is the intent of this district to provide sufficient size and depth of property to meet business needs, yet maintain safe traffic flows. Businesses in this district should be sited convenient to automotive traffic.Developmentin the CG District should provide safe pedestrian access toadjacentresidential areas.
Zone name
Commercial General
General category
COMMERCIAL
Zone area
1,042.51 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
29.13 ac
Current owner
From public records · entity-resolved
R Lynn Dodson
Individual
Free & Clear · 3 yrs held
Mailing address
56 HUNTER ST STE #110, APEX, NC 27502-2325
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2022
—
R Lynn Dodson
Warren E Halle
Agreement Of Sale
—
Jan 28, 2020
—
Setzer Properties Rdu LLC
Acquisition Ptrs Bethpage II
Grant Deed
related
—
Mar 7, 2019
$5,989,000
Setzer Properties Rdu LLC
Bethpage Acquisition Ptrs II L
Grant Deed
—
Aug 24, 2016
—
Ellis Road Weh LP
—
Deed
related
$17,500,000 · Manufacturers & Traders Trust
Nov 12, 2014
$20,000
Ellis Road Commercial LP
Triangle Investment Co
Grant Deed
—
Oct 17, 2014
$1,825,000
Ellis Road Commercial LP
William T Anderson JR.
Warranty 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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