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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Apartment buildings
1114 Belmont Dr Ankeny, IA 50021-3581
Entity Owned
3-yr Hold
Property ID
US25-2589859
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1970
Construction
FRAME
Total area
10,848 SF
Lot
0.54 ac (23,600 SF)
Zoning code
C-1
APN
181/00624-050-000
UPID
US25-2589859
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
$1.29M
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.32M
Owner & transaction history
Provesion Properties II LLC · 3 yrs held
Provesion Properties II LLC
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
C-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+51.8%
Auto repair, garage
$1.7M
+36.9%
Medical building
$1.6M
+33.1%
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 Ankeny submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ankeny 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
$1,375,000
ML approach
$1,290,000
CAP Approach
CAP Return
Estimation
6%
$1,400,000
6.5%
$1,295,000
7%
$1,200,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,230,000
Current use
RESTAURANT
$1,865,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,685,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$1,640,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,555,000
Change: +26% · Conversion: Moderate
RETAIL STORES
$1,265,000
Change: +3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,070,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±10% · vs last sale $1.47M (May 26 2023)
Last sale anchor
$1.47M
May 26 2023
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
$122 / 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
$17,388
Tax year 2020
Assessed value
$940,000
Assessed 2023
Previous assessed
$940,000
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$76,200
Assessed improvement
$863,800
Land market value
$76,200
Improvement market value
$863,800
Total market value
$940,000
Applied tax rate
6.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1970
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
3
Units
12
Rooms
5
Bathrooms
1
Total area
10,848 SF
Lot
0.54 ac (23,600 SF)
Zoning code
C-1
APN
181/00624-050-000
UPID
US25-2589859
Jurisdiction
POLK
Zoning & alternative use
C-1 · Ankeny, IA
Zoning C-1 · permitted uses
C-1 · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ankeny. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1970
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
12
Rooms
5
Bathrooms
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Provesion Properties II LLC
Entity
Mailing address
1528 RIO VLY DR, CLIVE, IA 50325-6539
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2023
$1,470,000
Provesion Properties II LLC
Ankeny 8 LLC
Warranty Deed
$1,176,000 · Earlham Savings Bank
May 23, 2017
$850,000
Nw Pine Props Residl Hsng Coo
Anchor Pointe Cooperative
Trustees Deed
$1,725,000 · First Nat'l Bk/ames Io
Dec 1, 2011
—
Anchor Pointe Cooperative
Anchor Pointe LLC
Quit Claim Deed
related
—
May 15, 2006
$785,000
Anchor Pointe LLC
Robinson,deadra D & Connie JR
Warranty Deed
$595,000 · Iowa Securities Investment Cor
Dec 30, 2005
$1,619,875
Deadra D Robinson JR.
Tavathia,kusum L
Grant Deed
$330,260 · Imperial Capital Bank
Jul 29, 2005
—
Kusum L Tavathia
Tavathia,surendra S
Quit Claim Deed
related
—
—
—
Anchor Pointe LLC
—
Deed Of Trust
related
$686,250 · Liberty Federal Savings Bank
—
—
Reiland Rentals LLC
—
Deed Of Trust
related
$980,000 · Greenstate Cu
—
—
Anchor Pointe Cooperative
—
Deed Of Trust
related
$632,864 · Midwestone 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.
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