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Property profile & analytics
OFF-MARKET
Residential income homes
1122 9th St Des Moines, IA 50314-2516
Entity Owned
9-yr Hold
Free & Clear
Property ID
US25-0435249
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1996
Construction
FRAME
Total area
5,472 SF
Lot
0.48 ac (20,739 SF)
Zoning code
R-4
APN
030/01695-085-001
UPID
US25-0435249
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Legacy Park Lllp · 9 yrs held
Legacy Park Lllp
since 2017
2 recorded transactions
Zoning & alternative use
R-4 · 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
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 2020Property tax & assessments
Tax year 2020
Tax billed
$5,952
Tax year 2020
Assessed value
$63,100
Assessed 2023
Previous assessed
$63,100
+0.0% YoY
Effective rate
9.43%
On assessed value
Assessed land
$48,300
Assessed improvement
$14,800
Land market value
$48,300
Improvement market value
$14,800
Total market value
$63,100
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
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
4
Total area
5,472 SF
Lot
0.48 ac (20,739 SF)
Zoning code
R-4
APN
030/01695-085-001
UPID
US25-0435249
Jurisdiction
POLK
Zoning & alternative use
R-4 · Des Moines, IA
Zoning R-4 · permitted uses
R-4 · 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
1996
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
4
Lot
0.48 ac
Current owner
From public records · entity-resolved
Legacy Park Lllp
Entity
Free & Clear · 9 yrs held
Mailing address
1171 7TH ST #1, DES MOINES, IA 50314-2505
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2017
$843,000
Legacy Park Lllp
Mid-city Duplexes LP
Warranty Deed
—
—
—
Mid-city Duplexes LP
—
Deed Of Trust
related
$344,500 · Two Rivers Bank & Trust
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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