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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Garden apartment buildings
89 Hwy Rd, Walnut Cove, NC 27052
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-3487485
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1968
Construction
WOOD
Total area
4,200 SF
Lot
2 ac (87,120 SF)
Zoning code
R-8
APN
696301383477
UPID
US53-3487485
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
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$565k
Owner & transaction history
Belmont Ventures LLC · 3 yrs held
Belmont Ventures LLC
since 2022
Last sale
$468,000
3 recorded transactions
Zoning & alternative use
R-8 · Walnut Cove, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$565,000
+28.5%
Auto repair, garage
$455,000
+3.8%
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 Walnut Cove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Walnut Cove 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
$725,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$440,000
Current use
COMMERCIAL (GENERAL)
$565,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$455,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$355,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $468k (Aug 19 2022)
Last sale anchor
$468k
Aug 19 2022
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
$135 / 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
$1,464
Tax year 2024
Assessed value
$180,800
Assessed 2024
Previous assessed
$180,800
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$66,700
Assessed improvement
$114,100
Land market value
$66,700
Improvement market value
$114,100
Total market value
$180,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1968
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Bathrooms
6
Total area
4,200 SF
Lot
2 ac (87,120 SF)
Zoning code
R-8
APN
696301383477
UPID
US53-3487485
Jurisdiction
STOKES
Zoning & alternative use
R-8 · Walnut Cove, NC
Zoning R-8 · permitted uses
R-8 · Walnut Cove, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Walnut Cove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$440,000
COMMERCIAL (GENERAL)
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$455,000
MEDICAL BUILDING
Est. value
$355,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1968
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
6
Lot
2 ac
Current owner
From public records · entity-resolved
Belmont Ventures LLC
Entity
Mailing address
104 N DOOLEY AVE, RICHMOND, VA 23221-2806
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 19, 2022
$468,000
Belmont Ventures LLC
Staysettled LLC
Warranty Deed
$397,800 · Powell Valley National Bank
Feb 19, 2021
$215,000
Staysettled LLC
Loyd Equity INC
Warranty Deed
$102,500 · First Bank
Dec 10, 2020
$180,000
Loyd Equity INC
Nickerson Enterprises LLC
Warranty Deed
$180,000 · Juliayaremchuk
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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