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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Apartment buildings
502 Farmer Rd Asheboro, NC 27203-7781
Individually Owned
Absentee Owner
Free & Clear
Property ID
US53-1779953
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1997
Construction
WOOD FRAME
Total area
5,264 SF
Lot
1.51 ac (65,776 SF)
Zoning code
RA6
APN
7751311405
UPID
US53-1779953
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
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$348k
Blend (final)
Blend
$580k
Owner & transaction history
CLAYTON TERRY TUCKER
CLAYTON TERRY TUCKER
Zoning & alternative use
RA6 · Asheboro, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RA6 Residential District is intended to produce a high intensity of residential uses in close proximity to major nodes of non-residential development, characterized primarily by group housing, plus the necessary governmental and other support facilities to service that level of development, Land designated RA6 shall normally be located with access to a m…
Zone name
High Density Residential
General category
CIVIC_INSTITUTIONAL
Zone area
674.08 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 Asheboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Asheboro 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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$660,000
Current use
RESTAURANT
$635,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$110 / 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
$17,305
Tax year 2023
Assessed value
$1,305,770
Assessed 2023
Previous assessed
$1,305,770
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$320,000
Assessed improvement
$985,770
Land market value
$320,000
Improvement market value
$985,770
Total market value
$1,305,770
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1997
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
WINDOW A/C
Buildings
3
Stories
2
Units
8
Bathrooms
1
Total area
5,264 SF
Lot
1.51 ac (65,776 SF)
Zoning code
RA6
APN
7751311405
UPID
US53-1779953
Jurisdiction
RANDOLPH
Zoning & alternative use
RA6 · Asheboro, NCZoning RA6 · permitted uses
RA6 · Asheboro, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RA6 Residential District is intended to produce a high intensity of residential uses in close proximity to major nodes of non-residential development, characterized primarily by group housing, plus the necessary governmental and other support facilities to service that level of development, Land designated RA6 shall normally be located with access to a minor thoroughfare or higher classification street with access to local residential streets discouraged
Zone name
High Density Residential
General category
CIVIC_INSTITUTIONAL
Zone area
674.08 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$660,000
RESTAURANT
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1997
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
3
Units
8
Bathrooms
1
Lot
1.51 ac
Current owner
From public records · entity-resolved
CLAYTON TERRY TUCKER
Individual
Free & Clear · 0 yrs held
Mailing address
465 LEWALLEN RD, ASHEBORO, NC 27205-6111
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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