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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Garden apartment buildings
611 Elmhurst Rd Charlotte, NC 28209-1111
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-1428956
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1967
Total area
4,536 SF
Lot
0.72 ac (31,549 SF)
Zoning code
R17MF
APN
14708152
UPID
US53-1428956
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
$355k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$361k
Blend (final)
Blend
$520k
Owner & transaction history
Elmhurst Apartments LLC · 20 yrs held
Elmhurst Apartments LLC
since 2005
3 recorded transactions
Zoning & alternative use
R17MF · Charlotte, NC
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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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
$355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$115 / 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
$11,925
Tax year 2023
Assessed value
$1,625,800
Assessed 2024
Previous assessed
$1,635,100
-0.6% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,025,000
Assessed improvement
$600,800
Land market value
$1,025,000
Improvement market value
$600,800
Total market value
$1,625,800
Applied tax rate
8.0000
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
1967
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
4,536 SF
Lot
0.72 ac (31,549 SF)
Zoning code
R17MF
APN
14708152
UPID
US53-1428956
Jurisdiction
MECKLENBURG
Zoning & alternative use
R17MF · Charlotte, NCZoning R17MF · permitted uses
R17MF · Charlotte, NC
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
1967
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Lot
0.72 ac
Current owner
From public records · entity-resolved
Elmhurst Apartments LLC
Entity
Mailing address
PO BOX 35329, CHARLOTTE, NC 28235-5329
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2005
—
Elmhurst Apartments LLC
Marsh Realty Co
Special Warranty Deed
$5,000,000 · Wachovia Multifamily Capital INC
—
—
Elmhurst Apartments LLC
—
Deed Of Trust
related
$7,500,000 · Miscellaneous Ins Co
—
—
Marsh Realty Co
—
Deed Of Trust
related
$6,900,000 · Wachovia Bank NA
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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