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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Garden apartment buildings
5 Welch Pl Durham, NC 27707-4483
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-5401002
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1973
Total area
3,000 SF
Lot
0.3 ac (13,068 SF)
Zoning code
RS-M
APN
156636
UPID
US53-5401002
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
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$772k
Blend (final)
Blend
$615k
Owner & transaction history
Mei Ying Cheung · 2 yrs held
Mei Ying Cheung
since 2024
Last sale
$615,000
3 recorded transactions
Zoning & alternative use
RS-M · 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
2,204.72 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
$615,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $615k (May 10 2024)
Last sale anchor
$615k
May 10 2024
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
$205 / 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
$2,031
Tax year 2024
Assessed value
$145,590
Assessed 2024
Previous assessed
$145,590
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$30,000
Assessed improvement
$115,590
Land market value
$30,000
Improvement market value
$115,590
Total market value
$145,590
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
1973
Heating
FLOOR/WALL FURNACE
Cooling
YES
Stories
2
Rooms
16
Bathrooms
4
Total area
3,000 SF
Lot
0.3 ac (13,068 SF)
Zoning code
RS-M
APN
156636
UPID
US53-5401002
Jurisdiction
DURHAM
Zoning & alternative use
RS-M · Durham, NCZoning RS-M · permitted uses
RS-M · 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
2,204.72 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1973
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Rooms
16
Bathrooms
4
Lot
0.3 ac
Current owner
From public records · entity-resolved
Mei Ying Cheung
Individual
Free & Clear · 2 yrs held
Mailing address
5 WELCH PL, DURHAM, NC 27707-4483
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2024
$615,000
Mei Ying Cheung
Cesar Garcia
Warranty Deed
—
Feb 28, 2020
—
Cesar Garcia
Cesar Garcia
Intrafamily Transfer
related
$184,100 · Movement Mortgage
Jan 12, 2007
$125,000
Cesar Garcia
Innovision INC
Warranty Deed
$114,187 · Taylor Bean & Whitaker Mortgage Cor
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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