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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Apartment buildings
247 Homespun Hls Rd Boone, NC 28607-8972
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-2594926
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Total area
1,250 SF
Lot
0.36 ac (15,682 SF)
Zoning code
E2R3
APN
2900-45-2591-000
UPID
US53-2594926
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
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$691k
Blend (final)
Blend
$665k
Owner & transaction history
Todd Rowen · 1 yrs held
Todd Rowen
since 2025
Last sale
$670,000
5 recorded transactions
Zoning & alternative use
E2R3 · Boone, 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 Boone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boone 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
$635,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$925,000
Current use
COMMERCIAL (GENERAL)
$905,000
Change: -2% · Conversion: Moderate
RETAIL STORES
$780,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $670k (Mar 26 2025)
Last sale anchor
$670k
Mar 26 2025
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
$532 / 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
Property tax & assessments
Assessed value
$266,700
Assessed 2023
Previous assessed
$266,700
+0.0% YoY
Assessed land
$105,900
Assessed improvement
$160,800
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 (5+ UNITS)
Status
Off-Market
Year built
1971
Heating
NONE
Cooling
NONE
Stories
2
Units
3
Rooms
9
Bathrooms
3
Total area
1,250 SF
Lot
0.36 ac (15,682 SF)
Zoning code
E2R3
APN
2900-45-2591-000
UPID
US53-2594926
Jurisdiction
WATAUGA
Zoning & alternative use
E2R3 · Boone, NC
Zoning E2R3 · permitted uses
E2R3 · Boone, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boone. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$905,000
RETAIL STORES
Est. value
$780,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Cooling
Yes
Stories
2
Units
3
Rooms
9
Bathrooms
3
Lot
0.36 ac
Current owner
From public records · entity-resolved
Todd Rowen
Individual
Mailing address
PO BOX 12592, CHARLOTTE, NC 28220-2592
Ownership since
2025
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
Feb 25, 2026
—
Todd Rowen
—
Deed
related
$502,500 · Fairway Independent Mortgage Corp
Mar 26, 2025
$670,000
Todd Rowen
Spa Properties Homespun LLC
Warranty Deed
$502,500 · Fairway Independent Mortgage Corp
Aug 20, 2020
—
Spa Prpoerties Homespun LLC
—
Deed
related
$258,516 · Johnson County Bank
Dec 30, 2019
$224,500
Spa Properties Homespun LLC
William B Scantlin
Warranty Deed
$218,960 · Johnson County Bank
Mar 10, 2016
$200,000
William B Scantlin
Davis,charles R & Nancy M
Warranty Deed
$150,000 · Prime Lndg
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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