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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Apartment buildings
1225 8th NW St, Salem, OR 97304-3708
Individually Owned
5-yr Hold
Free & Clear
Property ID
US71-0801610
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1994
Total area
7,244 SF
Lot
0.29 ac (12,632 SF)
Zoning code
RM2
APN
07321-CA-00301
UPID
US71-0801610
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
$1.24M
Comparable Approach
Comparable
$908k
Blend (final)
Blend
$1.13M
Owner & transaction history
Randall D Stowart · 5 yrs held
Randall D Stowart
since 2021
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
RM2 · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+58.4%
Warehouse, storage
$1.4M
+25.1%
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,335,000
6.5%
$1,235,000
7%
$1,145,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,125,000
Current use
RETAIL STORES
$1,785,000
Change: +58% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,410,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±10% · vs last sale $1.18M (Jun 30 2021)
Last sale anchor
$1.18M
Jun 30 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
$155 / 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
$7,881
Tax year 2023
Assessed value
$418,150
Assessed 2023
Previous assessed
$405,980
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$47,800
Assessed improvement
$370,350
Land market value
$158,260
Improvement market value
$686,360
Total market value
$844,620
Applied tax rate
3,225.0000
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
1994
Heating
NONE
Buildings
6
Total area
7,244 SF
Lot
0.29 ac (12,632 SF)
Zoning code
RM2
APN
07321-CA-00301
UPID
US71-0801610
Jurisdiction
POLK
Zoning & alternative use
RM2 · Salem, OR
Zoning RM2 · permitted uses
RM2 · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1994
Heating
NONE
Buildings
6
Lot
0.29 ac
Current owner
From public records · entity-resolved
Randall D Stowart
Individual
Free & Clear · 5 yrs held
Mailing address
9340 SW HL ST, TIGARD, OR 97223-6000
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2021
$1,180,000
Randall D Stowart
Connie S Shim
Warranty Deed
—
Oct 27, 2020
—
Infinity Trust
Jay B Shim
Quit Claim Deed
related
—
Jun 8, 1994
$157,000
Richard L Morris
Unknown
Grant Deed
—
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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