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Property profile & analytics
OFF-MARKET
Estimated value
$10,395,000
Apartment buildings
427 Howe Ave 431, Shelton, CT 06484-8163
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0776327
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2021
Total area
107,130 SF
Lot
0.53 ac (23,087 SF)
Zoning code
CB-2
APN
SHEL M:129D L:43
UPID
US15-0776327
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
Current use
Occupant on record · Public records
-
Chaplin Restaurant
-
Liege Artifex Group the Llc Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.06M
Blend (final)
Blend
$10.40M
Owner & transaction history
427 Howe Ave LLC · 11 yrs held
427 Howe Ave LLC
since 2015
6 recorded transactions
Zoning & alternative use
CB-2 · Shelton, CT
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 Shelton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelton 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,975,000
Current use
Blend value · Realmo final
$10.40M
Range $9.36M – $11.43M · ±10%
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
$97 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$176,755
Tax year 2024
Assessed value
$9,215,570
Assessed 2024
Previous assessed
$9,215,570
+0.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$1,008,000
Assessed improvement
$8,207,570
Applied tax rate
110.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2021
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
72
Total area
107,130 SF
Lot
0.53 ac (23,087 SF)
Zoning code
CB-2
APN
SHEL M:129D L:43
UPID
US15-0776327
Jurisdiction
SHELTON
Zoning & alternative use
CB-2 · Shelton, CT
Zoning CB-2 · permitted uses
CB-2 · Shelton, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$17.0M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2021
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
72
Lot
0.53 ac
Current owner
From public records · entity-resolved
427 Howe Ave LLC
Entity
Mailing address
75 MULBERRY LN, SHELTON, CT 06484-3766
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Mar 27, 2020
—
427 Howe Ave LLC
—
Deed
related
$10,200,000 · Chelsea Groton Bank
Jun 16, 2015
$1,295,000
427 Howe Ave LLC
Schaible Realty 2 LLC
Warranty Deed
—
Nov 30, 2012
—
Schaible Realty LLC
—
Deed Of Trust
related
$577,095 · Webster Bank
Sep 19, 2003
—
Bazil Grabovsky
—
Deed Of Trust
related
$162,000 · Hsbc Mortgage Corp
Nov 6, 2002
—
Schaible Rlty 2 LLC
—
Deed Of Trust
related
$417,000 · Webster Bank
May 31, 2001
$365,000
Schaible Rlty 2 LLC
Webster Bk
Grant Deed
$400,000 · Webster 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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