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Property profile & analytics
OFF-MARKET
Estimated value
$33,735,000
Garden apartment buildings
421 Michelle Linnea Dr, Charlotte, NC 28262-8844
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1195276
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1986
Total area
13,340 SF
Lot
15.03 ac (654,533 SF)
Zoning code
INST
APN
4938201
UPID
US53-1195276
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
$34.92M
Blend (final)
Blend
$33.74M
Owner & transaction history
Clpf Mallard Creek LLC · 4 yrs held
Clpf Mallard Creek LLC
since 2022
Last sale
$33.0M
7 recorded transactions
Zoning & alternative use
INST · 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
$34,020,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$33.74M
Range $30.36M – $37.11M · ±10% · vs last sale $33.00M (May 26 2022)
Last sale anchor
$33.00M
May 26 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
$2,529 / 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
$226,315
Tax year 2023
Assessed value
$30,854,100
Assessed 2024
Previous assessed
$31,000,200
-0.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$5,217,800
Assessed improvement
$25,636,300
Land market value
$5,217,800
Improvement market value
$25,636,300
Total market value
$30,854,100
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
1986
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
13
Stories
2
Rooms
1
Total area
13,340 SF
Lot
15.03 ac (654,533 SF)
Zoning code
INST
APN
4938201
UPID
US53-1195276
Jurisdiction
MECKLENBURG
Zoning & alternative use
INST · Charlotte, NC
Zoning INST · permitted uses
INST · 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
1986
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
13
Rooms
1
Lot
15.03 ac
Current owner
From public records · entity-resolved
Clpf Mallard Creek LLC
Entity
Free & Clear · 4 yrs held
Mailing address
230 PARK AVE FL, NEW YORK, NY 10169-0005
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
$33,000,000
Clpf Mallard Creek LLC
Bedrock Holdings II Charlotte LLC
Special Warranty Deed
—
Dec 19, 2016
—
Lsref3 Bravo Charlotte LLC
—
Deed
related
$5,541,000 · Berkadia Com'l Mtg
Oct 29, 2014
—
Lsref3 Bravo Charlotte LLC
—
Loan Modification
related
$105,854,000 · Berkadia Com'l Mtg
Oct 14, 2014
$12,968,500
Lsref3 Bravo Charlotte LLC
G & I Vi Mallard LP
Grant Deed
$1,353,483 · Lsref3 Reo Finance LLC Lsref3 Reo Finance LLC
Mar 7, 2008
$9,455,500
G&i Vi Mallard LP
Udr Of Nc LP
Special Warranty Deed
—
Aug 1, 1994
$7,120,000
Udrt Of North Carolina
Alexander,glen L
Grant Deed
—
Sep 6, 1989
$6,850,000
Alexander Glen Ltd
Unknown
Grant Deed
—
—
—
Lsref3 Bravo Charlotte LLC
—
Deed Of Trust
related
$5,541,000 · Berkadia Com'l Mtg
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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