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Property profile & analytics
OFF-MARKET
Estimated value
$3,010,000
Garden apartment buildings
324 Matthews St, Matthews, NC 28105-5469
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0502499
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2019
Total area
16,716 SF
Lot
0.56 ac (24,249 SF)
Zoning code
C-MF
APN
21501223
UPID
US53-0502499
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
-
Town 324 Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.01M
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.01M
Owner & transaction history
Rk Town 324 LLC · 4 yrs held
Rk Town 324 LLC
since 2022
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
C-MF · Matthews, 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 Matthews submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Matthews 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
$3,010,000
ML approach
$3,010,000
CAP Approach
CAP Return
Estimation
6%
$2,090,000
6.5%
$1,930,000
7%
$1,790,000
Blend value · Realmo final
$3.01M
Range $2.71M – $3.31M · ±10% · vs last sale $3.01M (Nov 14 2024)
Last sale anchor
$3.01M
Nov 14 2024
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
$180 / 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
$31,304
Tax year 2023
Assessed value
$4,232,600
Assessed 2024
Previous assessed
$4,232,600
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$451,600
Assessed improvement
$3,781,000
Land market value
$451,600
Improvement market value
$3,781,000
Total market value
$4,232,600
Applied tax rate
19.0000
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
2019
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
16,716 SF
Lot
0.56 ac (24,249 SF)
Zoning code
C-MF
APN
21501223
UPID
US53-0502499
Jurisdiction
MECKLENBURG
Zoning & alternative use
C-MF · Matthews, NC
Zoning C-MF · permitted uses
C-MF · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Matthews. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2019
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.56 ac
Current owner
From public records · entity-resolved
Rk Town 324 LLC
Entity
Mailing address
200 S COLLEGE ST STE #200, CHARLOTTE, NC 28202-0143
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2022
—
Rk Town 324 LLC
Ronald Kogod
Special Warranty Deed
—
Aug 26, 2021
—
Tsc Town 324 LLC
Bmo Properties Group LLC
Deed
—
Aug 2, 2021
$1,241,000
Ronald Kogod
Ginkgo Town324 LLC
Special Warranty Deed
—
Jun 9, 2021
—
Abi Town 324 LLC
Abi Pleasant Road Land I LLC
Intrafamily Transfer
related
—
Jun 2, 2021
$4,550,000
Ginkgo Town324 LLC
Town324 LLC
Special Warranty Deed
—
Apr 25, 2019
—
Town324 LLC
Brookechase Properties LLC
Grant Deed
—
Dec 22, 2010
$110,000
Brookechase Properties LLC
Hobart Smith Const Co INC
Warranty Deed
—
Aug 26, 2005
$89,000
Town Of Matthews
Hobart Smith Const Co INC
Warranty Deed
—
Apr 27, 1999
—
Hobart Smith Construction
Lambert,donald G
Grant Deed
related
—
Apr 26, 1999
$127,500
Hobart Smith Construction
Lambert,donald G
Grant Deed
—
—
—
Hobart Smith Const Co INC
—
Deed Of Trust
related
$1,442,306 · Fifth Third 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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