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Property profile & analytics
OFF-MARKET
Estimated value
$81,045,000
Garden apartment buildings
5310 Fls Dr 4 Cumming, GA 30028-3538
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-3061500
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2018
Total area
383,270 SF
Lot
61.71 ac (2,688,088 SF)
Zoning code
RES6
APN
234 007
UPID
US22-3061500
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
$79.22M
Comparable Approach
Comparable
$79.97M
Blend (final)
Blend
$81.05M
Owner & transaction history
Eqr Falls At Forsyth LLC · 1 yrs held
Eqr Falls At Forsyth LLC
since 2025
Last sale
$82.5M
7 recorded transactions
Zoning & alternative use
RES6 · Cumming, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$71.7M
+33.6%
Commercial (general)
$54.5M
+1.6%
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 Cumming submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cumming 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%
$85,815,000
6.5%
$79,215,000
7%
$73,555,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$53,675,000
Current use
OFFICE BUILDING
$71,690,000
Change: +34% · Conversion: Moderate
COMMERCIAL (GENERAL)
$54,520,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$81.05M
Range $72.94M – $89.15M · ±10% · vs last sale $82.50M (Mar 9 2020)
Last sale anchor
$82.50M
Mar 9 2020
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
$211 / 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
$554,315
Tax year 2024
Assessed value
$22,604,800
Assessed 2024
Previous assessed
$22,604,800
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$2,468,400
Assessed improvement
$20,136,400
Land market value
$6,171,000
Improvement market value
$50,341,000
Total market value
$56,512,000
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
2018
Heating
YES
Buildings
4
Stories
1
Total area
383,270 SF
Lot
61.71 ac (2,688,088 SF)
Zoning code
RES6
APN
234 007
UPID
US22-3061500
Jurisdiction
FORSYTH
Zoning & alternative use
RES6 · Cumming, GA
Zoning RES6 · permitted uses
RES6 · Cumming, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cumming. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$53.7M
OFFICE BUILDING
Est. value
$71.7M
COMMERCIAL (GENERAL)
Est. value
$54.5M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2018
Heating
YES
Stories
1
Buildings
4
Lot
61.71 ac
Current owner
From public records · entity-resolved
Eqr Falls At Forsyth LLC
Entity
Free & Clear · 1 yrs held
Mailing address
27777 PO BOX 3878TH RD STE #900, CHICAGO, IL 60690-3878
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2025
$102,000,000
Eqr Falls At Forsyth LLC
Br Falls At Forsyth LLC
Warranty Deed
—
Oct 11, 2022
—
Br Falls At Forsyth LLC
—
Deed
related
$798,009,984 · Barclays
Feb 19, 2021
—
Br Falls At Forsyth LLC
—
Deed
related
$64,559,000 · Walker And Dunlop
Mar 9, 2020
—
Br Falls At Forsyth LLC
360 Forsyth LLC
Quit Claim Deed
related
—
Mar 9, 2020
$82,500,000
Br Falls At Forsyth LLC
360 Forsyth LLC
Grant Deed
—
Jul 25, 2017
—
360 Forsyth LLC
Upper Chattahoochee Soli & Wat
Quit Claim Deed
related
—
Dec 6, 2016
—
360 Forsyth LLC
Ridge 19 LLC
Quit Claim Deed
related
—
Dec 6, 2016
$1,250,000
360 Forsyth LLC
Ridge 19 LLC
Grant Deed
—
Dec 11, 2013
$200,000
Ridge 19 LLC
Boa Forsyth Properties LLC
Grant Deed
—
Dec 11, 2013
$94,000
Boa Forsyth Properties LLC
400 South Land Co LLC
Grant Deed
—
Aug 10, 2011
—
Ucb Investment Properties LLC
Ucb Lots LLC
Quit Claim Deed
related
—
May 2, 2011
$92,000
Ucb Lots LLC
United Cmnty Bk
Grant Deed
—
Feb 3, 2006
—
400 South Land Co LLC
Callaway,barbara A & Mitchell B
Quit Claim Deed
related
$2,727,002 · United Community Bank
Feb 3, 2006
$1,465,200
400 South Land Co LLC
Callaway,mitchell B
Warranty Deed
—
Feb 1, 2006
$1,175,400
400 South Land Company LLC
Callaway,william Nathaniel
Grant Deed
—
Feb 1, 2006
—
Barbara A Callaway
Callaway,william Nathaniel
Quit Claim Deed
related
—
—
—
400 South Land Co LLC
—
Loan Modification
related
$2,727,162 · United Community Bank
—
—
400 South Land Co LLC
—
Loan Modification
related
$2,727,162 · United Community Bank
—
—
400 South Land Co LLC
—
Loan Modification
related
$2,727,218 · United Community Bank
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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