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Property profile & analytics
OFF-MARKET
Estimated value
$2,025,000
Apartment buildings
4405 Erie Rdg Ave 4447 Ashtabula, OH 44004-4551
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-2491409
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Construction
WOOD
Total area
31,104 SF
Lot
3.34 ac (145,621 SF)
APN
03-009-00-069-01
UPID
US66-2491409
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
-
Ridge View Estates Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$2.03M
Owner & transaction history
Cortland Meadows LLC · 8 yrs held
Cortland Meadows LLC
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+58.3%
Office building
$1.9M
+40.8%
Commercial (general)
$1.8M
+30.2%
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 Ashtabula submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ashtabula 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)
$1,345,000
Current use
RESTAURANT
$2,130,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$1,895,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,750,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,620,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±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
$65 / 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
$19,943
Tax year 2023
Assessed value
$256,940
Assessed 2023
Previous assessed
$256,940
+0.0% YoY
Effective rate
7.76%
On assessed value
Assessed land
$23,420
Assessed improvement
$233,520
Land market value
$66,900
Improvement market value
$667,200
Total market value
$734,100
Applied tax rate
3.0000
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
1971
Construction
WOOD
Heating
SPACE
Cooling
WINDOW A/C
Stories
2
Total area
31,104 SF
Lot
3.34 ac (145,621 SF)
APN
03-009-00-069-01
UPID
US66-2491409
Jurisdiction
ASHTABULA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1971
Construction
WOOD
Heating
SPACE
Cooling
Yes
Stories
2
Lot
3.34 ac
Current owner
From public records · entity-resolved
Cortland Meadows LLC
Entity
Mailing address
2564 TOBIN LN, CORTLAND, OH 44410-1771
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2017
$820,000
Cortland Meadows LLC
Ridge View Estates Ltd
Warranty Deed
$600,000 · Middlefield Bkng
May 21, 2004
—
Ridge View Estates Ltd
Pasqualone Gary L
Quit Claim Deed
related
—
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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