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Property profile & analytics
OFF-MARKET
Garden apartment buildings
409 Orange St, Charlotte, NC 28205-7580
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-5836266
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1954
Total area
3,000 SF
Lot
0.17 ac (7,265 SF)
Zoning code
R-5
APN
15701323
UPID
US53-5836266
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
409 Orange St LLC · 1 yrs held
409 Orange St LLC
since 2025
7 recorded transactions
Zoning & alternative use
R-5 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,645
Tax year 2023
Assessed value
$496,900
Assessed 2024
Previous assessed
$496,900
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$111,700
Assessed improvement
$385,200
Land market value
$111,700
Improvement market value
$385,200
Total market value
$496,900
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
1954
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
3,000 SF
Lot
0.17 ac (7,265 SF)
Zoning code
R-5
APN
15701323
UPID
US53-5836266
Jurisdiction
MECKLENBURG
Zoning & alternative use
R-5 · Charlotte, NC
Zoning R-5 · permitted uses
R-5 · 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
1954
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
409 Orange St LLC
Entity
Mailing address
4711 HOPE VLY RD STE 4FSTE4F, DURHAM, NC 27707-5651
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2025
—
409 Orange St LLC
Roland Mckinnie Reaves
Warranty Deed
—
Oct 18, 2022
—
Roland Mckinnie Reaves
—
Deed
related
$161,421 · Department Of Housing & Urban Dev
Apr 15, 2021
$454,000
Roland Mckinnie Reaves
Bdr Properties Of Charlotte LLC
Warranty Deed
$647,638 · Movement Mortgage
Jun 29, 2020
$369,000
Bdr Properties Of Charlotte LLC
Carolina Blue Sky Property LLC
Warranty Deed
$313,650 · Select Bank & Trust Co
Dec 14, 2012
$93,000
Carolina Blue Sky Property LLC
Burns,marty E & Jodi
Warranty Deed
—
Apr 14, 2009
$100,000
Marty E Burns
Melendez,dario
Warranty Deed
$75,000 · Surepoint Lending
Feb 22, 2005
$151,000
Dario Melendez
Noel,erica A
Warranty Deed
$128,350 · Fremont Investment & Loan
Mar 4, 2004
$124,500
Erica A Noel
Bw Investment Co LLC
Warranty Deed
$93,375 · Encore Credit Corp
Jan 31, 1997
—
Orange Street Of Charlotte
Orange Street Of
Quit Claim Deed
related
—
Dec 27, 1996
—
Orange,llc
Orange,llc
Quit Claim Deed
related
—
—
—
Marty E Burns
—
Deed Of Trust
related
$88,900 · Usaa Fsb
—
—
Carolina Blue Sky Property LLC
—
Deed Of Trust
related
$142,500 · Branch Banking & Trust Co
—
—
Bw Investment Co LLC
—
Deed Of Trust
related
$10,000 · Deborah G Hemenway
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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