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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Garden apartment buildings
540 Ingram Dr King, NC 27021-9419
Individually Owned
~
Est. High Equity
Property ID
US53-3740761
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1990
Total area
5,375 SF
Lot
4.98 ac (216,929 SF)
Zoning code
R-MF
APN
599107594619
UPID
US53-3740761
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
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$515k
Owner & transaction history
Carolina Apartments
Carolina Apartments
since 2026
1 recorded transaction
Zoning & alternative use
R-MF · King, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$770,000
+69.0%
Auto repair, garage
$545,000
+19.9%
Medical building
$465,000
+1.9%
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 King submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs King 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
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$455,000
Current use
COMMERCIAL (GENERAL)
$770,000
Change: +69% · Conversion: Moderate
AUTO REPAIR, GARAGE
$545,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$465,000
Change: +2% · Conversion: Moderate
RESTAURANT
$430,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$370,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$96 / 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
$10,770
Tax year 2024
Assessed value
$912,700
Assessed 2024
Previous assessed
$912,700
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$149,400
Assessed improvement
$763,300
Land market value
$149,400
Improvement market value
$763,300
Total market value
$912,700
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
1990
Heating
NONE
Buildings
5
Stories
1
Bathrooms
8
Total area
5,375 SF
Lot
4.98 ac (216,929 SF)
Zoning code
R-MF
APN
599107594619
UPID
US53-3740761
Jurisdiction
STOKES
Zoning & alternative use
R-MF · King, NC
Zoning R-MF · permitted uses
R-MF · King, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
King. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$455,000
COMMERCIAL (GENERAL)
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$545,000
MEDICAL BUILDING
Est. value
$465,000
RESTAURANT
Est. value
$430,000
WAREHOUSE, STORAGE
Est. value
$370,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
WAREHOUSE, STORAGE
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
1990
Heating
NONE
Stories
1
Buildings
5
Bathrooms
8
Lot
4.98 ac
Current owner
From public records · entity-resolved
Carolina Apartments
Individual
Mailing address
PO BOX 25168, WINSTON SALEM, NC 27114-5168
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2026
—
Carolina Apartments
—
Deed
related
$5,000,000
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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