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Property profile & analytics
OFF-MARKET
Estimated value
$3,605,000
Apartment buildings
12015 32nd St, Hibbing, MN 55746-2611
Entity Owned
4-yr Hold
Property ID
US46-1767307
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2015
Total area
41,918 SF
APN
139-0182-00490
UPID
US46-1767307
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
-
Marshview Meadows Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$3.61M
Owner & transaction history
High Point Holdings LLC · 4 yrs held
High Point Holdings LLC
since 2021
Last sale
$3.6M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+105.3%
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 Hibbing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hibbing 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
$3,815,000
ML approach
$3,720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,645,000
Change: +105% · Conversion: Moderate
Blend value · Realmo final
$3.61M
Range $3.24M – $3.97M · ±10% · vs last sale $3.60M (Sep 13 2021)
Last sale anchor
$3.60M
Sep 13 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
$86 / 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
$39,770
Tax year 2023
Assessed value
$1,830,700
Assessed 2022
Previous assessed
$1,830,700
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$91,200
Assessed improvement
$1,739,500
Land market value
$91,200
Improvement market value
$1,739,500
Total market value
$1,830,700
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
2015
Heating
BASEBOARD
Cooling
WALL UNIT
Stories
4
Units
32
Total area
41,918 SF
APN
139-0182-00490
UPID
US46-1767307
Jurisdiction
ST LOUIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.6M
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
2015
Heating
BASEBOARD
Cooling
Yes
Stories
4
Units
32
Current owner
From public records · entity-resolved
High Point Holdings LLC
Entity
Mailing address
PO BOX 1071, TWIG, MN 55791-1071
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2021
$3,600,000
High Point Holdings LLC
Timber Ridge Property Group LLC
Warranty Deed
$2,880,000 · Falcon National Bank
Mar 9, 2020
$2,100,000
Timber Ridge Prop Grp LLC
Marshview Meadows Dev Grp LLC
Warranty Deed
$1,825,000 · Grand Rapids St Bk
Jan 3, 2014
—
Marshview Meadows Dev Group Ll
Laurentian Land Co LLC
Quit Claim Deed
related
$2,344,000 · American Bk/the North
—
—
Marshview Meadows Dev Grp LLC
—
Loan Modification
related
—
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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