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Property profile & analytics
OFF-MARKET
Estimated value
$15,060,000
Apartment buildings
2350 Houston Levee Rd Cordova, TN 38016
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1961602
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2012
Construction
FRAME
Total area
346,647 SF
Lot
24.03 ac (1,046,660 SF)
Zoning code
CA
APN
096-600- - -00367
UPID
US80-1961602
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
$15.47M
Blend (final)
Blend
$15.06M
Owner & transaction history
Houston Levee East LLC · 19 yrs held
Houston Levee East LLC
since 2007
2 recorded transactions
Zoning & alternative use
CA · Cordova, TN
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$15.06M
Range $13.55M – $16.57M · ±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
$43 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$571,286
Tax year 2022
Assessed value
$9,378,200
Assessed 2023
Previous assessed
$9,378,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$593,200
Assessed improvement
$8,785,000
Land market value
$1,483,000
Improvement market value
$21,962,500
Total market value
$23,445,500
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2012
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
3
Stories
1
Units
210
Bathrooms
2
Total area
346,647 SF
Lot
24.03 ac (1,046,660 SF)
Zoning code
CA
APN
096-600- - -00367
UPID
US80-1961602
Jurisdiction
SHELBY
Zoning & alternative use
CA · Cordova, TNZoning CA · permitted uses
CA · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2012
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Units
210
Bathrooms
2
Lot
24.03 ac
Current owner
From public records · entity-resolved
Houston Levee East LLC
Entity
Free & Clear · 19 yrs held
Mailing address
300 TRADECENTER STE #7700, WOBURN, MA 01801-7419
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2007
$424,981
Houston Levee East LLC
Hendrix Roy W JR
Grant Deed
—
—
—
Panther Memphis Of Villas LLC
—
Deed Of Trust
related
$163,125,000 · Keybank USA
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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