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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Assisted living facilities
1400 Franklin St Elkhart, IN 46516-2044
Entity Owned
13-yr Hold
Free & Clear
Property ID
US31-0738641
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1969
Construction
WOOD
Total area
44,379 SF
Lot
1.95 ac (84,768 SF)
Zoning code
ZO01
APN
20-06-07-235-001.000-012
UPID
US31-0738641
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
-
Judith L. Berger, MS Physician
-
Riverside Village Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$472k
Blend (final)
Blend
$590k
Owner & transaction history
Ohi Asset In Elkhart LLC · 13 yrs held
Ohi Asset In Elkhart LLC
since 2012
1 recorded transaction
Zoning & alternative use
ZO01 · Elkhart, IN
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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$695,000
Current use
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$13 / 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
$22,440
Tax year 2023
Assessed value
$1,096,800
Assessed 2023
Previous assessed
$1,096,800
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$136,200
Assessed improvement
$960,600
Land market value
$136,200
Improvement market value
$960,600
Total market value
$1,096,800
Applied tax rate
12.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1969
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Total area
44,379 SF
Lot
1.95 ac (84,768 SF)
Zoning code
ZO01
APN
20-06-07-235-001.000-012
UPID
US31-0738641
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, INZoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CHAPTER 151: ZONING CODE
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$695,000
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1969
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
1.95 ac
Current owner
From public records · entity-resolved
Ohi Asset In Elkhart LLC
Entity
Free & Clear · 13 yrs held
Mailing address
303 INTERNATIONAL CIR STE #200, HUNT VALLEY, MD 21030-1359
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2012
$4,559,868
Ohi Asset In Elkhart LLC
Basic American Convalescent
Grant Deed
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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