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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Residential income homes
1492 Portland Ave 2, Saint Paul, MN 55104-6859
Individually Owned
4-yr Hold
Property ID
US46-0723529
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1936
Construction
WOOD FRAME
Total area
5,631 SF
Lot
0.4 ac (17,424 SF)
Zoning code
H
APN
03-28-23-23-0059
UPID
US46-0723529
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
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$722k
Blend (final)
Blend
$775k
Owner & transaction history
Rick A Stephenson · 4 yrs held
Rick A Stephenson
since 2021
Last sale
$900,000
3 recorded transactions
Zoning & alternative use
H · Saint Paul, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+112.5%
Auto repair, garage
$1.1M
+104.0%
Neighborhood: shopping center
$945,000
+68.9%
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 Saint Paul submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Paul 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
$720,000
ML approach
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$560,000
Current use
RESTAURANT
$1,190,000
Change: +112% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,140,000
Change: +104% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$945,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$830,000
Change: +48% · Conversion: Moderate
WAREHOUSE, STORAGE
$650,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$615,000
Change: +10% · Conversion: Moderate
RETAIL STORES
$575,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $900k (Aug 17 2021)
Last sale anchor
$900k
Aug 17 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
$138 / 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
$17,856
Tax year 2023
Assessed value
$973,100
Assessed 2023
Previous assessed
$973,100
+0.0% YoY
Effective rate
1.83%
On assessed value
Assessed land
$80,000
Assessed improvement
$893,100
Land market value
$80,000
Improvement market value
$893,100
Total market value
$973,100
Applied tax rate
625.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1936
Construction
WOOD FRAME
Heating
YES
Cooling
NONE
Units
4
Bathrooms
1
Total area
5,631 SF
Lot
0.4 ac (17,424 SF)
Zoning code
H
APN
03-28-23-23-0059
UPID
US46-0723529
Jurisdiction
RAMSEY
Zoning & alternative use
H · Saint Paul, MN
Zoning H · permitted uses
H · Saint Paul, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saint Paul. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$560,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$945,000
MEDICAL BUILDING
Est. value
$830,000
WAREHOUSE, STORAGE
Est. value
$650,000
OFFICE BUILDING
Est. value
$615,000
RETAIL STORES
Est. value
$575,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
1936
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Units
4
Bathrooms
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Rick A Stephenson
Individual
Mailing address
1492 PORTLAND AVE APT #2, SAINT PAUL, MN 55104-6820
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
Aug 17, 2021
$900,000
Rick A Stephenson
Margaret Austinstephenson
Warranty Deed
$720,000 · Wells Fargo Bank NA
Apr 12, 2019
$500
Jager Real Estate Holdings
Jager,gary G & Andrea A
Quit Claim Deed
related
$857,000 · Spire Cu
Mar 17, 1998
$240,000
Rick A Stephenson
Martin,robert J & Ann W
Grant Deed
$140,000 · Burnet Home Loans
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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