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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Apartment buildings
1015 38th Ave Omaha, NE 68105-1874
Entity Owned
4-yr Hold
Property ID
US57-1095406
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Construction
FRAME
Total area
5,952 SF
Lot
0.51 ac (22,100 SF)
Zoning code
R7
APN
2521890002
UPID
US57-1095406
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
$1.08M
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$885k
Owner & transaction history
Djg Properties LLC · 4 yrs held
Djg Properties LLC
since 2021
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
R7 · Omaha, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+71.2%
Retail stores
$930,000
+43.2%
Medical building
$900,000
+38.4%
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 Omaha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Omaha 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
$1,045,000
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$685,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$650,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,110,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$930,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$900,000
Change: +38% · Conversion: Moderate
AUTO REPAIR, GARAGE
$885,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$870,000
Change: +34% · Conversion: Moderate
COMMERCIAL (GENERAL)
$630,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$885k
Range $797k – $974k · ±10% · vs last sale $900k (Dec 8 2021)
Last sale anchor
$900k
Dec 8 2021
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
$149 / 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
$18,393
Tax year 2023
Assessed value
$871,800
Assessed 2023
Previous assessed
$871,800
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$44,200
Assessed improvement
$827,600
Land market value
$44,200
Improvement market value
$827,600
Total market value
$871,800
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
8
Rooms
8
Total area
5,952 SF
Lot
0.51 ac (22,100 SF)
Zoning code
R7
APN
2521890002
UPID
US57-1095406
Jurisdiction
DOUGLAS
Zoning & alternative use
R7 · Omaha, NE
Zoning R7 · permitted uses
R7 · Omaha, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Omaha. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$650,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
RETAIL STORES
Est. value
$930,000
MEDICAL BUILDING
Est. value
$900,000
AUTO REPAIR, GARAGE
Est. value
$885,000
OFFICE BUILDING
Est. value
$870,000
COMMERCIAL (GENERAL)
Est. value
$630,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1960
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
8
Rooms
8
Lot
0.51 ac
Current owner
From public records · entity-resolved
Djg Properties LLC
Entity
Mailing address
420 S 201ST AVE, ELKHORN, NE 68022-1867
Ownership since
2021
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
Dec 8, 2021
$900,000
Djg Properties LLC
Rbs 2 LLC
Warranty Deed
$161,075 · Equitable Bank
Oct 29, 2020
—
Rbs 2 LLC
Reimer 38th LLC
Warranty Deed
$3,120,000 · Frontier Bank
Aug 23, 2013
—
Reimer 38th LLC
Reimer Properties LLC
Quit Claim Deed
related
—
Jan 2, 2007
—
Reimer Properties LLC
—
Trustees Deed
related
$374,026 · American National Bank & Trust
—
—
Reimer Properties LLC
—
Deed Of Trust
related
$450,000 · Mutual Of Omaha Loanpro LLC
—
—
Reimer 38th LLC
—
Deed Of Trust
related
$500,000 · Home State Bank
—
—
Reimer Properties LLC
—
Deed Of Trust
related
$450,000 · Mutual Of Omaha Bank
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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