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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Garden apartment buildings
4600 Cornwallis Rd Durham, NC 27713
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2130255
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1985
Total area
15,908 SF
Lot
24.38 ac (1,061,993 SF)
Zoning code
RS-M(D)
APN
155782
UPID
US53-2130255
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
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$872k
Blend (final)
Blend
$1.16M
Owner & transaction history
Triangle Place Gardens LP · 4 yrs held
Triangle Place Gardens LP
since 2022
6 recorded transactions
Zoning & alternative use
RS-M(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
1,317.95 ac
Source
Realmo
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 Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham 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
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$73 / 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
$308,775
Tax year 2024
Assessed value
$22,135,974
Assessed 2024
Previous assessed
$22,135,974
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,700,000
Assessed improvement
$19,435,974
Land market value
$2,700,000
Improvement market value
$19,435,974
Total market value
$22,135,974
Applied tax rate
1.0000
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
1985
Heating
YES
Cooling
YES
Stories
2
Total area
15,908 SF
Lot
24.38 ac (1,061,993 SF)
Zoning code
RS-M(D)
APN
155782
UPID
US53-2130255
Jurisdiction
DURHAM
Zoning & alternative use
RS-M(D) · Durham, NCZoning RS-M(D) · permitted uses
RS-M(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Multifamilydevelopmentis permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Suburban Multifamily
General category
CIVIC_INSTITUTIONAL
Zone area
1,317.95 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1985
Heating
YES
Cooling
Yes
Stories
2
Lot
24.38 ac
Current owner
From public records · entity-resolved
Triangle Place Gardens LP
Entity
Free & Clear · 4 yrs held
Mailing address
999 WATERSIDE DR STE #2300, NORFOLK, VA 23510-3324
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2022
—
Triangle Place Gardens LP
Bainbriuge Nc LLC
Re-recorded Document
related
—
Feb 10, 2022
—
Triangle Place Gardens LP
Bainbridge Nc LLC
Special Warranty Deed
$364,000,000 · Forethought Life Insurance Company
Feb 10, 2022
$3,548,000
Bainbridge Nc LLC
Bainbridge Nc LLC
Special Warranty Deed
—
Oct 16, 2012
$13,600,000
Prg Bainbridge Associates LLC
Hawthorne Axis Bainbridge LLC
Grant Deed
$1,827,000 · Red Mortgage Capital INC
Mar 23, 2010
$10,700,000
Hawthorne Axis Bainbridge LLC
Bel Eqr Bainbridge LLC
Grant Deed
—
Jun 15, 2009
—
Bel Eqr Bainbridge LLC
Bel,eqr I Limited Partners
Quit Claim Deed
related
$8,768,000 · Red Mortgage Capital INC
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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