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Property profile & analytics
OFF-MARKET
Estimated value
$10,450,000
High-rise multifamily apartments
2610 Erwin Rd, Durham, NC 27705-3853
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2438353
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2017
Total area
153,300 SF
Lot
0.99 ac (43,124 SF)
Zoning code
MU(D)
APN
209093
UPID
US53-2438353
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 Flats Exchange on Erwin Apartments Apartment Complex Apartment Building
-
Bluberry Education Training Center
-
Calderon Company Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.42M
Blend (final)
Blend
$10.45M
Owner & transaction history
Sreit Erwin Residential LP · 6 yrs held
Sreit Erwin Residential LP
since 2019
3 recorded transactions
Zoning & alternative use
MU(D) · Durham, 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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.45M
Range $9.41M – $11.50M · ±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
$68 / 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
$370,099
Tax year 2024
Assessed value
$26,532,301
Assessed 2024
Previous assessed
$26,532,301
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,740,000
Assessed improvement
$23,792,301
Land market value
$2,740,000
Improvement market value
$23,792,301
Total market value
$26,532,301
Applied tax rate
1.0000
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
Year built
2017
Heating
YES
Cooling
YES
Stories
6
Total area
153,300 SF
Lot
0.99 ac (43,124 SF)
Zoning code
MU(D)
APN
209093
UPID
US53-2438353
Jurisdiction
DURHAM
Zoning & alternative use
MU(D) · Durham, NC
Zoning MU(D) · permitted uses
MU(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2017
Heating
YES
Cooling
Yes
Stories
6
Lot
0.99 ac
Current owner
From public records · entity-resolved
Sreit Erwin Residential LP
Entity
Free & Clear · 6 yrs held
Mailing address
200 E BROWARD BLVD #1410, FT LAUDERDALE, FL 33301-1963
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Nov 22, 2019
$65,000,000
Sreit Erwin Residential LP
Rrphi Lakeview Durham Resi LLC
Grant Deed
—
Sep 16, 2016
—
Rrpiii Lakeview Durham Resi Ll
—
Deed Of Trust
related
$53,700,000 · Pnc Bk
Nov 13, 2015
$5,562,500
Rrpiii Lakeview Durham Resi Ll
Lakeview Partners LLC
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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