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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Apartment buildings
125 167th E St, Spanaway, WA 98387-4941
Individually Owned
1-yr Hold
Property ID
US90-1113407
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD FRAME
Total area
3,192 SF
Lot
0.43 ac (18,750 SF)
Zoning code
MSF
APN
7635000250
UPID
US90-1113407
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
$595k
Comparable Approach
Comparable
$701k
Blend (final)
Blend
$675k
Owner & transaction history
Absolute Ministries · 1 yrs held
Absolute Ministries
since 2024
Last sale
$703,000
7 recorded transactions
Zoning & alternative use
MSF · Spanaway, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+40.8%
Retail stores
$975,000
+29.7%
Warehouse, storage
$950,000
+26.4%
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 Spanaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spanaway 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%
$645,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$755,000
Current use
COMMERCIAL (GENERAL)
$1,060,000
Change: +41% · Conversion: Moderate
RETAIL STORES
$975,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$950,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$875,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $703k (Sep 16 2024)
Last sale anchor
$703k
Sep 16 2024
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
$211 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$1,083
Tax year 2024
Assessed value
$681,300
Assessed 2024
Previous assessed
$681,300
+0.0% YoY
Effective rate
0.16%
On assessed value
Assessed land
$323,100
Assessed improvement
$358,200
Land market value
$323,100
Improvement market value
$358,200
Total market value
$681,300
Applied tax rate
591.0000
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
1963
Construction
WOOD FRAME
Heating
ELECTRIC
Stories
1
Units
5
Bathrooms
5
Total area
3,192 SF
Lot
0.43 ac (18,750 SF)
Zoning code
MSF
APN
7635000250
UPID
US90-1113407
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MSF · Spanaway, WA
Zoning MSF · permitted uses
MSF · Spanaway, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spanaway. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$755,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$975,000
WAREHOUSE, STORAGE
Est. value
$950,000
MEDICAL BUILDING
Est. value
$875,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1963
Construction
WOOD FRAME
Heating
ELECTRIC
Stories
1
Units
5
Bathrooms
5
Lot
0.43 ac
Current owner
From public records · entity-resolved
Absolute Ministries
Individual
Mailing address
2817 202ND AVE CT E, LAKE TAPPS, WA 98391-9005
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2024
$703,000
Absolute Ministries
Chris Dicugno
Warranty Deed
$353,000 · Chris Dicugno Etal
Mar 14, 2017
—
Christopher Dicugno
—
Deed
related
$380,000 · Homestreet Bank
Feb 6, 2017
$189,912
Chris Dicugno
Dikeman,brian E & Rebecca M
Quit Claim Deed
related
—
Sep 11, 2009
—
D & D Property Investments LLC
13104 LLC
Quit Claim Deed
related
—
Aug 30, 2007
—
13104 LLC
Dikeman,brian
Warranty Deed
—
Sep 22, 2006
—
Brian Dikeman
Dikeman,rebecca
Quit Claim Deed
related
—
Sep 22, 2006
$425,000
Christopher Dicugno
Ficken Lee
Warranty Deed
$340,000 · Pierce Commercial Bank
Nov 13, 1995
$100,000
Lee Ficken
Yi,han K & Sun Y
Quit Claim Deed
related
—
Nov 24, 1993
$150,000
Han K Yi
Smith,se W
Quit Claim Deed
related
$100,000 · Seller
Jan 7, 1992
$128,000
Se Wol Smith
Unknown
Grant Deed
—
—
—
Lee Ficken
—
Deed Of Trust
related
$87,000 · Allied Savings Bank
—
—
Se Wol Smith
—
Deed Of Trust
related
$25,427 · Puget Sound National Bank
—
—
Lee Ficken
—
Deed Of Trust
related
$20,000 · Individual
—
—
Lee Ficken
—
Deed Of Trust
related
$47,000 · Key Bank NA
—
—
Lee Ficken
—
Deed Of Trust
related
$125,000 · United Savings & Loan Bank
—
—
Lee Ficken
—
Deed Of Trust
related
$92,000 · United Savings & Loan Bank
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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