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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Garden apartment buildings
815 1st St A1 Newton, NC 28658-1850
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-0972152
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1981
Construction
WOOD
Total area
6,706 SF
Lot
10.58 ac (460,865 SF)
Zoning code
PD-H
APN
3740-14-34-5165
UPID
US53-0972152
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
$865k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
Alco Catawba Partners L P · 7 yrs held
Alco Catawba Partners L P
since 2018
1 recorded transaction
Zoning & alternative use
PD-H · Newton, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.3M
+62.3%
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 Newton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton 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%
$940,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$785,000
Current use
MEDICAL BUILDING
$1,275,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$685,000
Change: -13% · Conversion: Difficult
RETAIL STORES
$650,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$119 / 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
$45,928
Tax year 2023
Assessed value
$5,412,800
Assessed 2023
Previous assessed
$5,412,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$220,700
Assessed improvement
$5,192,100
Land market value
$220,700
Improvement market value
$5,192,100
Total market value
$5,412,800
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
1981
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Buildings
5
Units
10
Total area
6,706 SF
Lot
10.58 ac (460,865 SF)
Zoning code
PD-H
APN
3740-14-34-5165
UPID
US53-0972152
Jurisdiction
CATAWBA
Zoning & alternative use
PD-H · Newton, NC
Zoning PD-H · permitted uses
PD-H · Newton, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$785,000
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$685,000
RETAIL STORES
Est. value
$650,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1981
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Buildings
5
Units
10
Lot
10.58 ac
Current owner
From public records · entity-resolved
Alco Catawba Partners L P
Entity
Free & Clear · 7 yrs held
Mailing address
35 UN AVE STE #200, MEMPHIS, TN 38103-2417
Ownership since
2018
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
Sep 6, 2018
$1,428,000
Alco Catawba Partners L P
Catawba Pines Apartments
Warranty Deed
—
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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