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Property profile & analytics
OFF-MARKET
Estimated value
$42,485,000
Garden apartment buildings
2219 Duck Pond Cir, Morrisville, NC 27560-8743
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1333107
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1985
Construction
FRAME
Total area
10,198 SF
Lot
22.48 ac (979,229 SF)
Zoning code
HDR
APN
0745.19-70-0672 0168961
UPID
US53-1333107
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
$39.42M
Blend (final)
Blend
$42.49M
Owner & transaction history
Morrisville Owner LLC · 4 yrs held
Morrisville Owner LLC
since 2021
Last sale
$39.6M
3 recorded transactions
Zoning & alternative use
HDR · Morrisville, 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 Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville 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
$51,315,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$42.49M
Range $38.24M – $46.73M · ±10% · vs last sale $39.60M (Aug 18 2021)
Last sale anchor
$39.60M
Aug 18 2021
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
$4,166 / 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
$274,717
Tax year 2023
Assessed value
$25,098,087
Assessed 2023
Previous assessed
$25,098,087
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$7,242,000
Assessed improvement
$17,856,087
Land market value
$7,242,000
Improvement market value
$17,856,087
Total market value
$25,098,087
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
1985
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
8
Rooms
770
Total area
10,198 SF
Lot
22.48 ac (979,229 SF)
Zoning code
HDR
APN
0745.19-70-0672 0168961
UPID
US53-1333107
Jurisdiction
WAKE
Zoning & alternative use
HDR · Morrisville, NC
Zoning HDR · permitted uses
HDR · Morrisville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morrisville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
8
Rooms
770
Lot
22.48 ac
Current owner
From public records · entity-resolved
Morrisville Owner LLC
Entity
Mailing address
3330 WASHINGTON BLVD STE #200, ARLINGTON, VA 22201-4502
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
Aug 18, 2021
$39,600,000
Morrisville Owner LLC
Morrisville Apartments Partners LLC
Special Warranty Deed
$33,250,000 · Voya Investment Management Co LLC
Jun 1, 2018
—
Morrisville Apts Ptrs LLC
—
Grant Deed
related
$7,750,000 · Wells Fargo Bk
Dec 15, 2009
$10,500,000
Morrisville Apartments Ptrs Ll
National Property Investors 8
Grant Deed
$5,507,581 · Federal Home Loan Mortgage Cor
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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