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Property profile & analytics
OFF-MARKET
Estimated value
$1,660,000
Apartment buildings
1264 Cummins Rd Des Moines, IA 50315-2602
Individually Owned
14-yr Hold
Property ID
US25-0163471
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1993
Construction
FRAME
Total area
26,240 SF
Lot
1.88 ac (81,980 SF)
Zoning code
R-4
APN
120/04472-281-000
UPID
US25-0163471
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
-
Southwinds Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.66M
Owner & transaction history
Moines Leased Hsng Assocs Des · 14 yrs held
Moines Leased Hsng Assocs Des
since 2011
6 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.66M
Range $1.49M – $1.83M · ±10%
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
$63 / 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
$81,986
Tax year 2020
Assessed value
$856,500
Assessed 2023
Previous assessed
$856,500
+0.0% YoY
Effective rate
9.57%
On assessed value
Assessed land
$272,000
Assessed improvement
$584,500
Land market value
$272,000
Improvement market value
$584,500
Total market value
$856,500
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1993
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
3
Units
29
Total area
26,240 SF
Lot
1.88 ac (81,980 SF)
Zoning code
R-4
APN
120/04472-281-000
UPID
US25-0163471
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
1993
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
29
Lot
1.88 ac
Current owner
From public records · entity-resolved
Moines Leased Hsng Assocs Des
Individual
Mailing address
2905 NWNW BLVD STE #150, PLYMOUTH, MN 55441-2644
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2011
$2,820,000
Moines Leased Hsng Assocs Des
Des Moines Leased Hsng Assocs
Grant Deed
$1,395,180 · Des Moines Leased Hsng Assocs
—
—
Des Moines Leased Hsng Assocs
—
Deed Of Trust
related
$900,000 · Des Moines Leased Hsng Assocs
—
—
Moines Leased Hsng Assocs Des
—
Deed Of Trust
related
$756,204 · Bridgewater Bank
—
—
Des Moines Leased Hsng Assocs
—
Deed Of Trust
related
$2,000,000 · Dougherty Mortgage LLC
—
—
Des Moines Leased Hsng Assocs
—
Deed Of Trust
related
$450,000 · Iowa Economic Dev Authority
—
—
Moines Leased Hsng Assocs Des
—
Deed Of Trust
related
$1,410,000 · Privatebank & 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.
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