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Property profile & analytics
OFF-MARKET Estimated value $685,000
Garden apartment buildings

807 Cherry Ln Statesville, NC 28677-5173

7,392 SF 2.19 ac lot Built 1984
Entity Owned 5-yr Hold ~ Est. High Equity
Property ID
US53-2850109
Property profile
Verified
Property type Garden apartment buildings
Use group GARDEN APT, COURT APT (5+ UNITS)
Year built 1984
Construction WOOD
Total area 7,392 SF
Lot 2.19 ac (95,353 SF)
Zoning code R-5
APN 4734-64-8328.000
UPID US53-2850109
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
by Request
Comparable Approach Comparable
$721k
Blend (final) Blend
$685k
Owner & transaction history
Xyz Homes LLC · 5 yrs held
Xyz Homes LLC
since 2021
3 recorded transactions
2021
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
R-5 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

R-A, R-20, R-15, R-15M, R-10, R-10M, R-5, R-5M, R-5MF except that entrance signs and subdivision signs may be externally illuminated from dusk until dawn. 3. All temporary signs are prohibited on lots zoned for residential use, except for stake signs as allowed in this section. 4. The following requirements shall be observed in the PUD district, in addition…

Zone name High Density Single Family Residential District
General category RESIDENTIAL
Zone area 421.55 ac
Source code of ordinances
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