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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Garden apartment buildings
2711 Commonwealth Ave, Charlotte, NC 28205-5343
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US53-1160121
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1989
Total area
3,529 SF
Lot
1.49 ac (64,817 SF)
Zoning code
O2
APN
12904155
UPID
US53-1160121
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
$375k
CAP Approach
CAP
$655k
Comparable Approach
Comparable
$503k
Blend (final)
Blend
$510k
Owner & transaction history
Morcom LLC · 16 yrs held
Morcom LLC
since 2010
5 recorded transactions
Zoning & alternative use
O2 · Charlotte, 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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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
$375,000
CAP Approach
CAP Return
Estimation
6%
$710,000
6.5%
$655,000
7%
$610,000
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$145 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$29,164
Tax year 2023
Assessed value
$3,976,000
Assessed 2024
Previous assessed
$4,002,500
-0.7% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,327,200
Assessed improvement
$2,648,800
Land market value
$1,327,200
Improvement market value
$2,648,800
Total market value
$3,976,000
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
1989
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
3,529 SF
Lot
1.49 ac (64,817 SF)
Zoning code
O2
APN
12904155
UPID
US53-1160121
Jurisdiction
MECKLENBURG
Zoning & alternative use
O2 · Charlotte, NC
Zoning O2 · permitted uses
O2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
1.49 ac
Current owner
From public records · entity-resolved
Morcom LLC
Entity
Mailing address
PO BOX 16324, CHARLOTTE, NC 28297-6324
Ownership since
2010
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 24, 2022
—
Morcom LLC
—
Deed
related
$510,000 · Truist Bank
Aug 19, 2019
—
Morcom LLC
—
Deed
related
$651,509 · Mechanics & Farmers Bk
Mar 31, 2010
—
Morcom LLC
Morcom LLC
Quit Claim Deed
related
$728,791 · Mechanics & Farmers Bank
May 2, 2005
—
Morcom LLC
Premiere Properties INC
Grant Deed
related
—
—
—
Morcom LLC
—
Deed Of Trust
related
$651,509 · Mechanics & Farmers Bk
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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