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Property profile & analytics
OFF-MARKET
Estimated value
$2,880,000
Garden apartment buildings
Midland, NC 28107
Individually Owned
5-yr Hold
Free & Clear
Property ID
US53-1444368
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1981
Total area
16,807 SF
Lot
3.26 ac (142,006 SF)
Zoning code
R22MF
APN
6107180
UPID
US53-1444368
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
$3.39M
CAP Approach
CAP
$1.94M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.88M
Owner & transaction history
National Ch Residences Of Midland · 5 yrs held
National Ch Residences Of Midland
since 2020
Last sale
$2.9M
4 recorded transactions
Zoning & alternative use
R22MF · Midland, 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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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
$3,305,000
ML approach
$3,390,000
CAP Approach
CAP Return
Estimation
6%
$2,100,000
6.5%
$1,940,000
7%
$1,800,000
Blend value · Realmo final
$2.88M
Range $2.59M – $3.17M · ±10% · vs last sale $2.88M (Oct 20 2020)
Last sale anchor
$2.88M
Oct 20 2020
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
$171 / 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
$13,923
Tax year 2023
Assessed value
$1,898,200
Assessed 2024
Previous assessed
$1,898,200
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$323,400
Assessed improvement
$1,574,800
Land market value
$323,400
Improvement market value
$1,574,800
Total market value
$1,898,200
Applied tax rate
8.0000
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
1981
Heating
HEAT PUMP
Cooling
WALL UNIT
Buildings
7
Stories
1
Total area
16,807 SF
Lot
3.26 ac (142,006 SF)
Zoning code
R22MF
APN
6107180
UPID
US53-1444368
Jurisdiction
MECKLENBURG
Zoning & alternative use
R22MF · Midland, NC
Zoning R22MF · permitted uses
R22MF · Midland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midland. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1981
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
7
Lot
3.26 ac
Current owner
From public records · entity-resolved
National Ch Residences Of Midland
Individual
Free & Clear · 5 yrs held
Mailing address
2335 N BANK DR, COLUMBUS, OH 43220-5423
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 20, 2020
$2,883,500
National Ch Residences Of Midland
National Ch Residences Of Charlot
Grant Deed
—
Oct 20, 2020
$2,765,000
Midland Commons Senior Housing LP
National Chr Residences Of Midland
Warranty Deed
—
—
—
Midland Commons INC
—
Loan Modification
related
$1,351,081 · National Church Residences
—
—
National Ch Residenceof Midlan
—
Loan Modification
related
$1,529,276 · National Church Residences
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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