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Property profile & analytics
OFF-MARKET
Residential income homes
423 Ctr St Statesville, NC 28677-4021
Entity Owned
9-yr Hold
Property ID
US53-5796580
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1951
Construction
WOOD
Total area
2,358 SF
Lot
0.23 ac (10,019 SF)
Zoning code
R-8
APN
4734-88-8122.000
UPID
US53-5796580
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
Clr-apartments LLC · 9 yrs held
Clr-apartments LLC
since 2016
7 recorded transactions
Zoning & alternative use
R-8 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
nge Low Density Residential District R-15M Urban Fringe Low Density Residential/Manufactured Housing District R-10 Urban Low Density Residential District R-10M Urban Low Density Manufactured Housing Residential District R-8 Medium Density Single-Family Residential District R-8M Medium Density Single-Family/Manufactured Housing Residential District R-8MF Medi…
Zone name
Medium Density Single Family Residential District
General category
RESIDENTIAL
Zone area
454.85 ac
Source
code of ordinances
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$914
Tax year 2023
Assessed value
$77,990
Assessed 2023
Previous assessed
$77,990
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$11,500
Assessed improvement
$66,490
Land market value
$11,500
Improvement market value
$66,490
Total market value
$77,990
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1951
Construction
WOOD
Heating
FORCED AIR
Cooling
NONE
Stories
2
Units
2
Total area
2,358 SF
Lot
0.23 ac (10,019 SF)
Zoning code
R-8
APN
4734-88-8122.000
UPID
US53-5796580
Jurisdiction
IREDELL
Zoning & alternative use
R-8 · Statesville, NCZoning R-8 · permitted uses
R-8 · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
nge Low Density Residential District R-15M Urban Fringe Low Density Residential/Manufactured Housing District R-10 Urban Low Density Residential District R-10M Urban Low Density Manufactured Housing Residential District R-8 Medium Density Single-Family Residential District R-8M Medium Density Single-Family/Manufactured Housing Residential District R-8MF Medium Density Multi-Family Residential District R-5 High Density Single-Family Residen
Zone name
Medium Density Single Family Residential District
General category
RESIDENTIAL
Zone area
454.85 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1951
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Clr-apartments LLC
Entity
Mailing address
116 S CTR ST, STATESVILLE, NC 28677-5805
Ownership since
2016
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
Dec 30, 2016
—
Clr-apartments LLC
Carolina Landmark Realty LLC
Quit Claim Deed
related
—
Apr 9, 2015
$246,000
Carolina Landmark Realty LLC
Bayview Ln Svcg LLC
Grant Deed
$199,750 · Yadkin Bk
Mar 19, 2015
$237,000
Bayview Ln Svcg LLC
Trustee Svcs Of Carolina LLC|hrs Investments Ltd
Trustees Deed
—
Oct 26, 2007
$490,000
Hrs Investments Ltd
Two Line Property Group LLC
Warranty Deed
—
Oct 26, 2007
$365,000
Two Line Property Group LLC
Alexander,john T III & Carolina E
Warranty Deed
—
Dec 16, 2005
—
Two Line Property Group LLC
Alexander,john T III & Carolina E
Grant Deed
—
—
—
John T Alexander III
—
Deed Of Trust
related
$82,500 · Rbc Centura Bank
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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