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Property profile & analytics
OFF-MARKET
Estimated value
$70,970,000
Apartment buildings
2978 Ethan Pointe Dr, Burlington, NC 27215-9523
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-5627460
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Total area
41,892 SF
Lot
21.63 ac (942,159 SF)
Zoning code
CR
APN
113190
UPID
US53-5627460
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
-
Ethan Pointe Apartments Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$64.70M
Blend (final)
Blend
$70.97M
Owner & transaction history
Srett Ethan Pointe LLC · 4 yrs held
Srett Ethan Pointe LLC
since 2022
Last sale
$68.7M
6 recorded transactions
Zoning & alternative use
CR · Burlington, 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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$81,765,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$70.97M
Range $63.87M – $78.07M · ±10% · vs last sale $68.70M (May 12 2022)
Last sale anchor
$68.70M
May 12 2022
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
$1,694 / 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
$198,925
Tax year 2023
Assessed value
$46,047,497
Assessed 2023
Previous assessed
$46,047,497
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$2,955,913
Assessed improvement
$43,091,584
Land market value
$2,955,913
Improvement market value
$43,091,584
Total market value
$46,047,497
Applied tax rate
12.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2007
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Rooms
7
Bathrooms
1
Total area
41,892 SF
Lot
21.63 ac (942,159 SF)
Zoning code
CR
APN
113190
UPID
US53-5627460
Jurisdiction
ALAMANCE
Zoning & alternative use
CR · Burlington, NC
Zoning CR · permitted uses
CR · Burlington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Rooms
7
Bathrooms
1
Lot
21.63 ac
Current owner
From public records · entity-resolved
Srett Ethan Pointe LLC
Entity
Mailing address
591 W PUTNAM AVE, GREENWICH, CT 06830-6005
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$68,703,500
Srett Ethan Pointe LLC
Ma Ethan Pointe At Burlington LLC
Special Warranty Deed
$240,058,400 · Morgan Stanley Mortgage Capital Hol
May 22, 2015
$30,225,000
Ma Ethan Pointe Of Burlington LLC
Ethan Pointe LLC
Grant Deed
related
—
Mar 24, 2006
$1,903,500
Ethan Pointe LLC
Isley,f W
Warranty Deed
$1,600,000 · Suntrust Bk/tallahassee
—
—
Ma Ethan Pointe Of Burlington LLC
—
Deed Of Trust
related
$26,350,800 · Dwight Capital LLC
—
—
Ethan Pointe LLC
—
Loan Modification
related
$27,530,900 · Berkadia Com'l Mtg
—
—
Ethan Pointe LLC
—
Deed Of Trust
related
$27,579 · Capmark Fin
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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