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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Garden apartment buildings
770 3rd St Ayden, NC 28513-2404
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1592310
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1991
Total area
6,810 SF
Lot
1.55 ac (67,518 SF)
Zoning code
MF
APN
48038
UPID
US53-1592310
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
$1.22M
Blend (final)
Blend
$975k
Owner & transaction history
Minnesott Landing LLC · 13 yrs held
Minnesott Landing LLC
since 2013
2 recorded transactions
Zoning & alternative use
MF · Ayden, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
e. Multi-Family District (MF) The MF District is established as a district in which to allow primarily single-Family and multi-family residences at a medium-density (approximately 10-12 dwelling units per acre) in areas served by adequate public water and sewer systems. f. Manufactured Housing District (MH) The MH District is established to offer affordable…
Zone name
Multifamily District
General category
RESIDENTIAL
Zone area
137.04 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 Ayden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ayden 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)
$1,150,000
Current use
RESTAURANT
$1,135,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±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
$143 / 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
$14,636
Tax year 2023
Assessed value
$852,326
Assessed 2023
Previous assessed
$852,326
+0.0% YoY
Effective rate
1.72%
On assessed value
Assessed land
$41,850
Assessed improvement
$810,476
Land market value
$41,850
Improvement market value
$810,476
Total market value
$852,326
Applied tax rate
5.0000
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
1991
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
2
Rooms
4
Bathrooms
4
Total area
6,810 SF
Lot
1.55 ac (67,518 SF)
Zoning code
MF
APN
48038
UPID
US53-1592310
Jurisdiction
PITT
Zoning & alternative use
MF · Ayden, NCZoning MF · permitted uses
MF · Ayden, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
e. Multi-Family District (MF) The MF District is established as a district in which to allow primarily single-Family and multi-family residences at a medium-density (approximately 10-12 dwelling units per acre) in areas served by adequate public water and sewer systems. f. Manufactured Housing District (MH) The MH District is established to offer affordable housing alternatives and to ensure the orderly development of such establishments.
Zone name
Multifamily District
General category
RESIDENTIAL
Zone area
137.04 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
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
1991
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
2
Rooms
4
Bathrooms
4
Lot
1.55 ac
Current owner
From public records · entity-resolved
Minnesott Landing LLC
Entity
Mailing address
2298 AUTUMN DR, KINSTON, NC 28501-7222
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2013
$850,000
Minnesott Landing LLC
Dm Properties Of Pitt County LLC
Warranty Deed
$637,500 · Wells Fargo Bank NA
Mar 1, 2007
$950,000
Meadows,david F & Denise D
Owner Name Unavailable
Grant Deed
related
—
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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