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Property profile & analytics
OFF-MARKET
Estimated value
$12,625,000
Apartment buildings
3551 Forestdale Dr, Burlington, NC 27215-4698
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-1421587
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1998
Total area
13,080 SF
Lot
13.6 ac (592,416 SF)
Zoning code
MFA
APN
112991
UPID
US53-1421587
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
-
Residences at Forestdale Real Estate Agency
-
Hawthorne at Forestdale Apartment Complex Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.76M
Blend (final)
Blend
$12.63M
Owner & transaction history
Mimg Ccv Resdiences At Forestdale L · 2 yrs held
Mimg Ccv Resdiences At Forestdale L
since 2023
Last sale
$13.5M
7 recorded transactions
Zoning & alternative use
MFA · 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
$13,980,000
ML approach
$10,385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.63M
Range $11.36M – $13.89M · ±10% · vs last sale $13.50M (Jul 28 2023)
Last sale anchor
$13.50M
Jul 28 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
$965 / 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
$180,118
Tax year 2023
Assessed value
$41,693,933
Assessed 2023
Previous assessed
$41,693,933
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$3,507,500
Assessed improvement
$38,186,433
Land market value
$3,507,500
Improvement market value
$38,186,433
Total market value
$41,693,933
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
1998
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
3
Stories
1
Rooms
63
Bathrooms
1
Total area
13,080 SF
Lot
13.6 ac (592,416 SF)
Zoning code
MFA
APN
112991
UPID
US53-1421587
Jurisdiction
ALAMANCE
Zoning & alternative use
MFA · Burlington, NC
Zoning MFA · permitted uses
MFA · 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
1998
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Rooms
63
Bathrooms
1
Lot
13.6 ac
Current owner
From public records · entity-resolved
Mimg Ccv Resdiences At Forestdale L
Individual
Free & Clear · 2 yrs held
Mailing address
2195 N STATE HWY 83RD STE 14B, FRANKTOWN, CO 80116-9604
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2023
$13,500,000
Mimg Ccv Resdiences At Forestdale L
Mimg Tuc3 Forestdale LLC
Special Warranty Deed
—
Jan 26, 2022
$41,000,000
Mimg Ccv Residences At Forestdale L
Napali Hawthorne Partners LLC
Special Warranty Deed
$27,500,000 · Berkadia Commercial Mortgage LLC
May 30, 2019
$24,400,000
Napali Hawthorne Partners LLC
Forestdale 299 Lap LLC
Special Warranty Deed
$20,000,000 · Berkadia Commercial Mortgage LLC
May 14, 2015
—
Forestdale W99 Lap LLC
Forestdale Apartments LLC
Quit Claim Deed
related
$3,520,000 · Grandbridge R/e Cap
May 14, 2015
$16,150,000
Forestdale W99 Lap LLC
Forestdale Apartments LLC
Grant Deed
related
—
May 25, 2011
$8,000,000
Forestdale Apartments LLC
Burlington Apartments LLC
Trustees Deed
$6,000,000 · Bb&t R/e Fndg
Jun 3, 1997
$950,000
Burlington Apartments LLC
—
Warranty Deed
related
—
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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