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Property profile & analytics
OFF-MARKET
Estimated value
$4,165,000
Garden apartment buildings
331 Franklin St, Wake Forest, NC 27587-2659
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-1045318
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2001
Total area
10,890 SF
Lot
3.5 ac (152,460 SF)
Zoning code
UMX
APN
1840.07-69-0394 0257172
UPID
US53-1045318
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
$4.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.17M
Owner & transaction history
Sterling Legacy Creekside LLC · 2 yrs held
Sterling Legacy Creekside LLC
since 2023
Last sale
$4.1M
3 recorded transactions
Zoning & alternative use
UMX · Wake Forest, 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 Wake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wake Forest 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
$4,235,000
ML approach
$4,220,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.17M
Range $3.75M – $4.58M · ±10% · vs last sale $4.10M (Sep 15 2023)
Last sale anchor
$4.10M
Sep 15 2023
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
$382 / 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
$16,573
Tax year 2023
Assessed value
$1,369,535
Assessed 2023
Previous assessed
$1,369,535
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$760,000
Assessed improvement
$609,535
Land market value
$760,000
Improvement market value
$609,535
Total market value
$1,369,535
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
2001
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
10
Rooms
162
Total area
10,890 SF
Lot
3.5 ac (152,460 SF)
Zoning code
UMX
APN
1840.07-69-0394 0257172
UPID
US53-1045318
Jurisdiction
WAKE
Zoning & alternative use
UMX · Wake Forest, NC
Zoning UMX · permitted uses
UMX · Wake Forest, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wake Forest. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2001
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
10
Rooms
162
Lot
3.5 ac
Current owner
From public records · entity-resolved
Sterling Legacy Creekside LLC
Entity
Free & Clear · 2 yrs held
Mailing address
673 S MAIN ST, STOWE, VT 05672-4595
Ownership since
2023
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
Sep 15, 2023
$4,100,000
Sterling Legacy Creekside LLC
Creekside Housing LLC
Special Warranty Deed
—
Dec 6, 2016
—
Creekside Housing LLC
—
Deed
related
$1,700,000 · P R Mtg & Inv
—
—
Creekside Housing LLC
—
Deed Of Trust
related
$1,700,000 · P R Mtg & Inv
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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