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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Apartment buildings
51 Wellesley Dr Newport News, VA 23606-4002
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0481819
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1998
Total area
630 SF
Lot
1.62 ac (70,393 SF)
Zoning code
O1
APN
202001486
UPID
US87-0481819
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
-
Wellesley Commons Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Wellesley Commons Apartments LLC · 3 yrs held
Wellesley Commons Apartments LLC
since 2023
Last sale
$550,000
6 recorded transactions
Zoning & alternative use
O1 · Newport News, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
nt or provision of the data. Fort Eustis JLUS Study Area Fort Eustis City of Newport News Boundary County Boundary York County Zoning EO GB IG IL LB NB PD R7 R13 R20 R33 RMF RR RC WCI YVA Newport News Zoning C1 C2 M1 M2 O1 O2 P1 R1 R2 R3 R4 R5 R6 R7 R8 R9 James City County Zoning B1 LB M1 M2 MU PL R2 R4 R5 R8 L E G E N D ̈§¦64 James River S u r r yS u r r y…
Zone name
Office
General category
COMMERCIAL
Zone area
143.70 ac
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 Newport News submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport News 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
$610,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $550k (Apr 3 2023)
Last sale anchor
$550k
Apr 3 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
$921 / 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
$24,276
Tax year 2023
Assessed value
$1,848,000
Assessed 2023
Previous assessed
$1,848,000
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$600,000
Assessed improvement
$1,248,000
Land market value
$600,000
Improvement market value
$1,248,000
Total market value
$1,848,000
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
1998
Heating
NONE
Stories
3
Units
40
Bathrooms
1
Total area
630 SF
Lot
1.62 ac (70,393 SF)
Zoning code
O1
APN
202001486
UPID
US87-0481819
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
O1 · Newport News, VAZoning O1 · permitted uses
O1 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
nt or provision of the data. Fort Eustis JLUS Study Area Fort Eustis City of Newport News Boundary County Boundary York County Zoning EO GB IG IL LB NB PD R7 R13 R20 R33 RMF RR RC WCI YVA Newport News Zoning C1 C2 M1 M2 O1 O2 P1 R1 R2 R3 R4 R5 R6 R7 R8 R9 James City County Zoning B1 LB M1 M2 MU PL R2 R4 R5 R8 L E G E N D ̈§¦64 James River S u r r yS u r r y C o u n t yC o u n t y N e w p o r tN e w p o r t N e w sN e w s I s l eI s l e o
Zone name
Office
General category
COMMERCIAL
Zone area
143.70 ac
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Stories
3
Units
40
Bathrooms
1
Lot
1.62 ac
Current owner
From public records · entity-resolved
Wellesley Commons Apartments LLC
Entity
Mailing address
448 DEPOT ST NE, CHRISTIANSBURG, VA 24073-2050
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2025
—
Wellesley Commons Apartments LLC
—
Deed
related
$285,000 · Community Housing Partners Corporation
Aug 22, 2025
—
Wellesley Commons Apartments LLC
—
Deed
related
$583,951 · Community Housing Partners Corporation
Aug 21, 2025
—
Wellesley Commons Apartments LLC
—
Deed
related
$285,000 · Community Housing Partners Corporation
Aug 20, 2025
—
Wellesley Commons Apartments LLC
—
Deed
related
$900,000 · Community Housing Partners Corporation
Apr 3, 2023
$550,000
Wellesley Commons Apartments LLC
Laurel Court Apartments INC
Special Warranty Deed
$2,890,351 · Atlantic Union Bank
Apr 3, 2023
—
Wellesley Commons Apartments LLC
—
Deed
related
$500,000 · Community Housing Partners Corp
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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