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Property profile & analytics
OFF-MARKET
Estimated value
$5,025,000
High-rise multifamily apartments
2643 Melina Ct Bethlehem, PA 18017-3338
Individually Owned
3-yr Hold
Free & Clear
Property ID
US73-4285822
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2017
Total area
56,276 SF
Lot
14.91 ac (649,480 SF)
Zoning code
RR
APN
N8 1 1B-10 0205
UPID
US73-4285822
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
$5.45M
CAP Approach
CAP
$5.27M
Comparable Approach
Comparable
$3.29M
Blend (final)
Blend
$5.03M
Owner & transaction history
Bethlehem Township · 3 yrs held
Bethlehem Township
since 2023
Last sale
$4.6M
3 recorded transactions
Zoning & alternative use
RR · Bethlehem, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.0M
+8.8%
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 Bethlehem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bethlehem 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
$5,185,000
ML approach
$5,445,000
CAP Approach
CAP Return
Estimation
6%
$5,710,000
6.5%
$5,270,000
7%
$4,890,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,375,000
Current use
COMMERCIAL (GENERAL)
$8,025,000
Change: +9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,820,000
Change: -8% · Conversion: Difficult
RESTAURANT
$6,300,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$5.03M
Range $4.52M – $5.53M · ±10% · vs last sale $4.61M (Mar 3 2023)
Last sale anchor
$4.61M
Mar 3 2023
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
$89 / 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
$640,050
Tax year 2024
Assessed value
$8,340,500
Assessed 2024
Previous assessed
$8,340,500
+0.0% YoY
Effective rate
7.67%
On assessed value
Assessed land
$745,500
Assessed improvement
$7,595,000
Land market value
$1,491,000
Improvement market value
$15,190,000
Total market value
$16,681,000
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
CENTRAL
Buildings
7
Units
39
Total area
56,276 SF
Lot
14.91 ac (649,480 SF)
Zoning code
RR
APN
N8 1 1B-10 0205
UPID
US73-4285822
Jurisdiction
NORTHAMPTON
Zoning & alternative use
RR · Bethlehem, PA
Zoning RR · permitted uses
RR · Bethlehem, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bethlehem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$6.8M
RESTAURANT
Est. value
$6.3M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
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
2017
Heating
YES
Cooling
Yes
Buildings
7
Units
39
Lot
14.91 ac
Current owner
From public records · entity-resolved
Bethlehem Township
Individual
Free & Clear · 3 yrs held
Mailing address
PO BOX 6719, JERSEY CITY, NJ 07306-0719
Ownership since
2023
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
Mar 3, 2023
—
Bethlehem Township
Kre Bethlehem LP
Intrafamily Transfer
related
—
Feb 17, 2017
—
Kre Madison Farms Apartments I
—
Grant Deed
related
$42,500,000 · Miscellaneous Ins Co
Oct 16, 2015
$4,612,600
Kre Madison Farms Apartments I
Petie INC
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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