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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Garden apartment buildings
407 Spruce SW St Lenoir, NC 28645-5536
Entity Owned
4-yr Hold
Property ID
US53-1426079
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
4,800 SF
Lot
100 ac (4,356,000 SF)
APN
06 38 1 24
UPID
US53-1426079
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
$565k
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$445k
Blend (final)
Blend
$510k
Owner & transaction history
Meridian Endeavors LLC · 4 yrs held
Meridian Endeavors LLC
since 2022
Last sale
$330,000
6 recorded transactions
Zoning & alternative use
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 Lenoir submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenoir 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
$510,000
ML approach
$565,000
CAP Approach
CAP Return
Estimation
6%
$555,000
6.5%
$510,000
7%
$475,000
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $330k (May 27 2022)
Last sale anchor
$330k
May 27 2022
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
$106 / 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
Property tax & assessments
Assessed value
$155,100
Assessed 2024
Previous assessed
$155,100
+0.0% YoY
Assessed land
$13,700
Assessed improvement
$141,400
Land market value
$13,700
Improvement market value
$141,400
Total market value
$155,100
Applied tax rate
6.0000
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
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Units
5
Bathrooms
5
Total area
4,800 SF
Lot
100 ac (4,356,000 SF)
APN
06 38 1 24
UPID
US53-1426079
Jurisdiction
CALDWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
5
Bathrooms
5
Lot
100 ac
Current owner
From public records · entity-resolved
Meridian Endeavors LLC
Entity
Mailing address
270 CAR FARM RD #100, LINCOLNTON, NC 28092-7105
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2024
—
Meridian Endeavors LLC
—
Deed
related
$260,000 · Loan Funder LLC Series 64558
May 27, 2022
$330,000
Meridian Endeavors LLC
Poetker Properties LLC
Warranty Deed
—
Oct 22, 2018
—
Poetker Properties LLC
—
Deed
related
$125,000 · Taylorsville Svg Bk Ssb
Apr 4, 2014
$174,000
Poetker Properties LLC
Willis Investments LLC
Warranty Deed
—
Feb 1, 2008
$170,000
Willis Investments LLC
Nguyen,phuong N
Warranty Deed
$136,000 · Bayview Fin'l Small Busn Fndg
—
—
Poetker Properties LLC
—
Deed Of Trust
related
$125,000 · Taylorsville Svg Bk Ssb
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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