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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Garden apartment buildings
850 Mclain Hts Ct Kannapolis, NC 28083-5200
Entity Owned
5-yr Hold
Property ID
US53-1178969
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1996
Construction
WOOD
Total area
21,998 SF
Lot
1.7 ac (74,052 SF)
Zoning code
R8
APN
5623 14 6762
UPID
US53-1178969
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
$3.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.87M
Owner & transaction history
Mclain Heights Owner LLC · 5 yrs held
Mclain Heights Owner LLC
since 2020
4 recorded transactions
Zoning & alternative use
R8 · Kannapolis, 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 Kannapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kannapolis 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%
$3,880,000
6.5%
$3,580,000
7%
$3,325,000
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±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
$130 / 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
$47,469
Tax year 2024
Assessed value
$4,180,470
Assessed 2024
Previous assessed
$1,870,800
+123.5% YoY
Effective rate
1.14%
On assessed value
Assessed land
$114,850
Assessed improvement
$4,065,620
Land market value
$114,850
Improvement market value
$4,065,620
Total market value
$4,180,470
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
1996
Construction
WOOD
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
3
Units
15
Bathrooms
2
Total area
21,998 SF
Lot
1.7 ac (74,052 SF)
Zoning code
R8
APN
5623 14 6762
UPID
US53-1178969
Jurisdiction
CABARRUS
Zoning & alternative use
R8 · Kannapolis, NC
Zoning R8 · permitted uses
R8 · Kannapolis, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kannapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1996
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Buildings
2
Units
15
Bathrooms
2
Lot
1.7 ac
Current owner
From public records · entity-resolved
Mclain Heights Owner LLC
Entity
Mailing address
112 S FRENCH ST105MP, WILMINGTON, DE 19801-5035
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2020
$3,800,000
Mclain Heights Owner LLC
Bma Mclain Hts Apts LLC
Grant Deed
—
May 25, 2007
$348,000
Bma Mclain Heights Apartments
Mclain Heights LLC
Grant Deed
related
—
—
—
Bma Mclain Heights Apartments
—
Deed Of Trust
related
$25,160,000 · Greystone Svcg
—
—
Bma Mclain Heights Apartments
—
Deed Of Trust
related
$720,000 · Arbor Commercial Funding LLC
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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