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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Apartment buildings
5001 Oberlin Ave 3 Lorain, OH 44053-3402
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-1100178
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1966
Total area
5,408 SF
Lot
1.74 ac (75,794 SF)
APN
02-01-008-101-214
UPID
US66-1100178
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
-
Carl Nichols Grocery Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
$710k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.05M
Owner & transaction history
Harmony Square Apartments LLC · 2 yrs held
Harmony Square Apartments LLC
since 2023
Last sale
$1.0M
5 recorded transactions
Zoning & alternative use
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 Lorain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lorain 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
$1,080,000
ML approach
$1,095,000
CAP Approach
CAP Return
Estimation
6%
$770,000
6.5%
$710,000
7%
$660,000
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±10% · vs last sale $1.00M (Aug 18 2023)
Last sale anchor
$1.00M
Aug 18 2023
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
$193 / 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
$27,431
Tax year 2023
Assessed value
$349,119
Assessed 2023
Previous assessed
$349,120
0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$53,057
Assessed improvement
$296,062
Land market value
$151,590
Improvement market value
$845,890
Total market value
$997,480
Applied tax rate
42.0000
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
1966
Heating
NONE
Buildings
2
Stories
2
Units
1
Total area
5,408 SF
Lot
1.74 ac (75,794 SF)
APN
02-01-008-101-214
UPID
US66-1100178
Jurisdiction
LORAIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Stories
2
Buildings
2
Units
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Harmony Square Apartments LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3660 CTR RD, BRUNSWICK, OH 44212-3620
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2023
$1,000,000
Harmony Square Apartments LLC
Ohio Multifamily LLC
Warranty Deed
—
Jan 8, 2021
—
Ohio Multifamily LLC
—
Deed
related
$570,000 · Farmers Nat'l Bk/canfield
Feb 15, 2019
$755,000
Ohio Multifamily LLC
Michael Allen
Warranty Deed
$520,000 · 5 Arch Funding Corp
Feb 27, 2014
$425,000
Michael Allen
Duldner,agnes
Warranty Deed
—
—
—
Ohio Multifamily LLC
—
Deed Of Trust
related
$570,000 · Farmers Nat'l Bk/canfield
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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