Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Apartment buildings
1000 24th St Des Moines, IA 50311-4336
Entity Owned
4-yr Hold
Property ID
US25-0184508
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2013
Construction
FRAME
Total area
11,687 SF
Lot
0.18 ac (7,680 SF)
Zoning code
R-3
APN
030/04896-000-000
UPID
US25-0184508
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
Current use
Occupant on record · Public records
-
Drake Manor Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$970k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$624k
Blend (final)
Blend
$950k
Owner & transaction history
D&b 528 W 6th Street LLC · 4 yrs held
D&b 528 W 6th Street LLC
since 2022
Last sale
$975,000
7 recorded transactions
Zoning & alternative use
R-3 · Des Moines, IA
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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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
$880,000
ML approach
$970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $975k (May 16 2022)
Last sale anchor
$975k
May 16 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
$81 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$10,387
Tax year 2020
Assessed value
$865,000
Assessed 2023
Previous assessed
$865,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$16,200
Assessed improvement
$848,800
Land market value
$16,200
Improvement market value
$848,800
Total market value
$865,000
Applied tax rate
1.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2013
Construction
FRAME
Heating
YES
Buildings
1
Stories
3
Units
18
Rooms
7
Bathrooms
1
Total area
11,687 SF
Lot
0.18 ac (7,680 SF)
Zoning code
R-3
APN
030/04896-000-000
UPID
US25-0184508
Jurisdiction
POLK
Zoning & alternative use
R-3 · Des Moines, IA
Zoning R-3 · permitted uses
R-3 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2013
Construction
FRAME
Heating
YES
Stories
3
Buildings
1
Units
18
Rooms
7
Bathrooms
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
D&b 528 W 6th Street LLC
Entity
Mailing address
431 LOCKRIDGE CT, GRANITE BAY, CA 95746-6308
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2022
$975,000
D&b 528 W 6th Street LLC
Drake Manor Apts LLC
Warranty Deed
$731,250 · Greenstate Cu
Nov 23, 2020
—
Drake Mnr Apts LLC
—
Deed Of Trust
related
$200,000 · Porch Swing Props LLC
Jul 16, 2013
$100,000
Drake Manor Apts LLC
Phoenix Cloverleaf LLC
Warranty Deed
—
Dec 30, 2011
$294,500
Phoenix Cloverleaf LLC
Peoples Trust & Savings Bank
Warranty Deed
$294,925 · Peoples Trust & Savings Bank Clive
Oct 12, 2011
—
Peoples Trust & Svgs Bk
Dorris,matthew J & Kathryn A
Quit Claim Deed
related
—
Mar 10, 2006
$402,500
Matthew J Dorris
Richard J Raabe
Warranty Deed
$322,400 · Peoples Trust & Savings Bank
—
—
Drake Manor Apts LLC
—
Deed Of Trust
related
$460,000 · Community Busn Lndr Svc
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1000 24th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
