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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Apartment buildings
2845 Wood Ave 101 Lorain, OH 44055-1630
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US66-6219701
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Total area
3,192 SF
Lot
0.17 ac (7,405 SF)
APN
03-00-097-103-022
UPID
US66-6219701
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
-
Graystone Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
$420k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$530k
Owner & transaction history
Graystone Apartments LLC · 6 yrs held
Graystone Apartments LLC
since 2020
Last sale
$511,000
3 recorded transactions
Zoning & alternative use
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 Lorain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lorain 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
$650,000
ML approach
$565,000
CAP Approach
CAP Return
Estimation
6%
$455,000
6.5%
$420,000
7%
$390,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$345,000
Current use
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $511k (Apr 28 2020)
Last sale anchor
$511k
Apr 28 2020
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
$166 / 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
$347
Tax year 2023
Assessed value
$4,410
Assessed 2023
Previous assessed
$4,410
+0.0% YoY
Effective rate
7.87%
On assessed value
Assessed land
$4,410
Land market value
$12,600
Total market value
$12,600
Applied tax rate
42.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1973
Heating
NONE
Stories
2
Units
1
Total area
3,192 SF
Lot
0.17 ac (7,405 SF)
APN
03-00-097-103-022
UPID
US66-6219701
Jurisdiction
LORAIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$345,000
APARTMENT HOUSE (5+ UNITS) Current
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
1973
Heating
NONE
Stories
2
Units
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Graystone Apartments LLC
Entity
Mailing address
2197 E 28TH ST, LORAIN, OH 44055-1932
Ownership since
2020
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
Apr 28, 2020
$1,750,000
Graystone Apartments LLC
Graystone Apt Prop LLC
Grant Deed
related
$1,000,000 · James E JR Dixon
Jun 27, 2019
$511,000
Graystone Apt Roperties LLC
Ahmed,irshad
Grant Deed
—
Jul 18, 2005
$1,100,000
Irshad Ahmed
Ric Mar Co General Ptshp
Warranty Deed
$880,000 · Lasalle National Bank
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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