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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Apartment buildings
1422 Racine Ave Waukesha, WI 53186-6466
Entity Owned
~
Est. High Equity
Property ID
US92-0179687
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1970
Total area
37,770 SF
Lot
1.78 ac (77,537 SF)
Zoning code
RM-3
APN
WAKC1337977
UPID
US92-0179687
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
$2.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$2.50M
Owner & transaction history
Balleys Rental Properties LLC
Balleys Rental Properties LLC
since 2025
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
RM-3 · Waukesha, WI
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 Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha 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
$2,405,000
ML approach
$2,710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.07M (Oct 23 2023)
Last sale anchor
$2.07M
Oct 23 2023
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
$66 / 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
$51,023
Tax year 2023
Assessed value
$3,355,700
Assessed 2023
Previous assessed
$2,292,200
+46.4% YoY
Effective rate
1.52%
On assessed value
Assessed land
$378,600
Assessed improvement
$2,977,100
Total market value
$3,474,169
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
1970
Heating
HOT WATER
Cooling
NONE
Stories
1
Total area
37,770 SF
Lot
1.78 ac (77,537 SF)
Zoning code
RM-3
APN
WAKC1337977
UPID
US92-0179687
Jurisdiction
WAUKESHA
Zoning & alternative use
RM-3 · Waukesha, WI
Zoning RM-3 · permitted uses
RM-3 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waukesha. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
Balleys Rental Properties LLC
Entity
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2025
$4,774,200
Balleys Rental Properties LLC
East Racine Avenue Waukesha LLC
Warranty Deed
$3,591,150 · Waukesha State Bank
Oct 23, 2023
—
East Racine Ave Waukesha LLC
Micheal Roth
Quit Claim Deed
related
—
Sep 12, 2001
$2,070,000
Michael R Roth
Hickory Hill Apartments LLC
Grant Deed
$1,656,000 · Mutual Savings Bank
Jul 5, 2000
$1,742,500
Hickory Hill Apts LLC
Johnson Trust
Grant Deed
$1,464,000 · Mutual Savings Bank
—
—
Michael R Roth
—
Deed Of Trust
related
$1,600,200 · Great Midwest Bank Ssb
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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