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Property profile & analytics
OFF-MARKET
Apartment buildings
1015 6th St Burlington, IA 52601-4828
Individually Owned
12-yr Hold
Free & Clear
Property ID
US25-0178350
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1873
Construction
FRAME
Total area
5,562 SF
Lot
0.16 ac (6,882 SF)
Zoning code
R4
APN
11-32-427-006
UPID
US25-0178350
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
-
Wright Landscaping & Construction Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Richard D Wallace · 12 yrs held
Richard D Wallace
since 2014
3 recorded transactions
Zoning & alternative use
R4 · Burlington, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended to allow for medium and high density neighborhoods by providing varying area requirements
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
701.44 ac
Source
Realmo
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2021Property tax & assessments
Tax year 2021
Tax billed
$1,652
Tax year 2021
Assessed value
$122,600
Assessed 2023
Previous assessed
$79,400
+54.4% YoY
Effective rate
1.35%
On assessed value
Assessed land
$11,300
Assessed improvement
$111,300
Land market value
$11,300
Improvement market value
$111,300
Total market value
$122,600
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
1873
Construction
FRAME
Heating
YES
Cooling
NONE
Stories
2
Rooms
17
Bathrooms
5
Total area
5,562 SF
Lot
0.16 ac (6,882 SF)
Zoning code
R4
APN
11-32-427-006
UPID
US25-0178350
Jurisdiction
DES MOINES
Zoning & alternative use
R4 · Burlington, IAZoning R4 · permitted uses
R4 · Burlington, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is intended to allow for medium and high density neighborhoods by providing varying area requirements
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
701.44 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1873
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Rooms
17
Bathrooms
5
Lot
0.16 ac
Current owner
From public records · entity-resolved
Richard D Wallace
Individual
Free & Clear · 12 yrs held
Mailing address
1015 N 6TH ST, BURLINGTON, IA 52601-4828
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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
Feb 12, 2020
—
Richard D Wallace
—
Deed
related
$62,118 · Midwestone Bank
Jun 12, 2014
—
Richard D Wallace
Wallace,louis R & Linda M
Quit Claim Deed
related
—
—
—
Richard D Wallace
—
Deed Of Trust
related
$50,000 · Midwest One Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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