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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Garden apartment buildings
300 Merriman Dr Selma, NC 27576-3659
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0927007
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1993
Total area
27,795 SF
Lot
3.62 ac (157,687 SF)
Zoning code
RES
APN
14002009T
UPID
US53-0927007
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
-
Joseph E Price Elderly Center Retirement Community Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$875k
Owner & transaction history
R&r Development Group Of Nc LLC · 4 yrs held
R&r Development Group Of Nc LLC
since 2022
2 recorded transactions
Zoning & alternative use
RES · Selma, 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 Selma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Selma 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
$565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$31 / 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
$12,886
Tax year 2024
Assessed value
$1,014,625
Assessed 2024
Previous assessed
$1,014,625
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$331,140
Assessed improvement
$683,485
Land market value
$331,140
Improvement market value
$683,485
Total market value
$1,014,625
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
1993
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
32
Bathrooms
6
Total area
27,795 SF
Lot
3.62 ac (157,687 SF)
Zoning code
RES
APN
14002009T
UPID
US53-0927007
Jurisdiction
JOHNSTON
Zoning & alternative use
RES · Selma, NC
Zoning RES · permitted uses
RES · Selma, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Selma. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
32
Bathrooms
6
Lot
3.62 ac
Current owner
From public records · entity-resolved
R&r Development Group Of Nc LLC
Entity
Mailing address
PO BOX 1567, DUNN, NC 28335-1567
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2022
$110,000
R&r Development Group Of Nc LLC
Alt 2 Farms LLC
Warranty Deed
$450,000 · Oblock Holdings LLC
Jan 5, 2017
$10,000
M Durwood Stephenson
Shs LP
Warranty 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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