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Property profile & analytics
OFF-MARKET
Estimated value
$61,255,000
Garden apartment buildings
228 Morrow Rd Forest Park, GA 30297-2841
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-1119321
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1970
Total area
596 SF
Lot
57.4 ac (2,500,344 SF)
Zoning code
RM
APN
13-109D- A-001
UPID
US22-1119321
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
-
Next Level HVAC/DUCT Cleaning HVAC Service General Contractor
-
Final Touch Shoeshine (Bike/Boat/Book/etc) Store
-
Exquisite Cleaning (Bike/Boat/Book/etc) Store
-
Heavenly Touch Hairroom Restaurant
-
Redwood Ridge Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$83.20M
Blend (final)
Blend
$61.26M
Owner & transaction history
Laurel Pointe Owner LLC · 4 yrs held
Laurel Pointe Owner LLC
since 2021
Last sale
$60.6M
5 recorded transactions
Zoning & alternative use
RM · Forest Park, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the RM district is to allow the development of multiple family residences served by public water and sewer systems
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
201.61 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 Forest Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Park 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
$67,530,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$61.26M
Range $55.13M – $67.38M · ±10% · vs last sale $60.63M (Oct 14 2021)
Last sale anchor
$60.63M
Oct 14 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
$102,777 / 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
$786,560
Tax year 2024
Assessed value
$20,162,000
Assessed 2024
Previous assessed
$20,162,000
+0.0% YoY
Effective rate
3.90%
On assessed value
Assessed land
$1,492,400
Assessed improvement
$18,669,600
Land market value
$3,731,000
Improvement market value
$46,674,000
Total market value
$50,405,000
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
1970
Heating
NONE
Total area
596 SF
Lot
57.4 ac (2,500,344 SF)
Zoning code
RM
APN
13-109D- A-001
UPID
US22-1119321
Jurisdiction
CLAYTON
Zoning & alternative use
RM · Forest Park, GAZoning RM · permitted uses
RM · Forest Park, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the RM district is to allow the development of multiple family residences served by public water and sewer systems
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
201.61 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Lot
57.4 ac
Current owner
From public records · entity-resolved
Laurel Pointe Owner LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4445 WILLARD AVE, CHEVY CHASE, MD 20815-3690
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2021
$60,630,000
Laurel Pointe Owner LLC
Laurel Pointe Holdings LLC
Warranty Deed
—
May 15, 2018
$5,000
Laurel Pointe Holdings LLC
Qhf I-laurel Pointe Apts LLC
Grant Deed
related
—
Jan 11, 2017
—
Qhf I-laurel Pointe Apartments
Hunters Bay LLC
Quit Claim Deed
related
—
Jan 11, 2017
$26,000,000
Qhf I-laurel Pointe Apartments
Hunters Bay LLC
Grant Deed
$20,800,000 · Walker & Dunlop
Jun 20, 2006
$11,900,000
Hunters Bay LLC
Db,propco Bp LP
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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