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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Garden apartment buildings
406 9th St, Charlotte, NC 28202-1791
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0195558
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1983
Total area
5,704 SF
Lot
0.16 ac (6,974 SF)
Zoning code
UR-2
APN
7807308
UPID
US53-0195558
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
$1.86M
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.59M
Owner & transaction history
406 W 9th Street Properties LLC · 4 yrs held
406 W 9th Street Properties LLC
since 2021
Last sale
$1.6M
4 recorded transactions
Zoning & alternative use
UR-2 · Charlotte, 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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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
$1,855,000
ML approach
$1,855,000
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,060,000
7%
$985,000
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±10% · vs last sale $1.58M (Sep 23 2021)
Last sale anchor
$1.58M
Sep 23 2021
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
$278 / 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
$11,537
Tax year 2023
Assessed value
$1,572,800
Assessed 2024
Previous assessed
$1,576,500
-0.2% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,026,200
Assessed improvement
$546,600
Land market value
$1,026,200
Improvement market value
$546,600
Total market value
$1,572,800
Applied tax rate
8.0000
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
1983
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
5,704 SF
Lot
0.16 ac (6,974 SF)
Zoning code
UR-2
APN
7807308
UPID
US53-0195558
Jurisdiction
MECKLENBURG
Zoning & alternative use
UR-2 · Charlotte, NC
Zoning UR-2 · permitted uses
UR-2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1983
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.16 ac
Current owner
From public records · entity-resolved
406 W 9th Street Properties LLC
Entity
Mailing address
6351 SAINT STEPHEN LN, CHARLOTTE, NC 28210-7006
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
$1,580,000
406 W 9th Street Properties LLC
Fourth Ward Studios LLC
Special Warranty Deed
$1,240,000 · Charlotte Metro FCU
Aug 7, 2015
$1,025,000
Fourth Ward Studios LLC
Think Group LLC
Warranty Deed
$765,000 · Hometrust Bank
Dec 12, 2014
—
Think Group LLC
—
Grant Deed
related
$2,197,026 · Wells Fargo Bk
Jul 1, 1994
$335,000
Roger E Stude
West,ninth Stree
Grant 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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