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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Garden apartment buildings
1500 23rd Ter, Independence, MO 64050-4278
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US48-0820478
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1966
Construction
WOOD
Total area
3,596 SF
Lot
7.14 ac (311,018 SF)
APN
26-430-02-18
UPID
US48-0820478
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
$515k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$550k
Owner & transaction history
Willys Properties LLC · 4 yrs held
Willys Properties LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$780,000
+44.7%
Retail stores
$575,000
+6.1%
Auto repair, garage
$565,000
+5.0%
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 Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence 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
$515,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$540,000
Current use
COMMERCIAL (GENERAL)
$780,000
Change: +45% · Conversion: Moderate
RETAIL STORES
$575,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$565,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$465,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$153 / 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
$65,028
Tax year 2024
Assessed value
$960,450
Assessed 2024
Previous assessed
$960,450
+0.0% YoY
Effective rate
6.77%
On assessed value
Assessed land
$164,654
Assessed improvement
$795,796
Total market value
$5,055,000
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
3,596 SF
Lot
7.14 ac (311,018 SF)
APN
26-430-02-18
UPID
US48-0820478
Jurisdiction
JACKSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$540,000
COMMERCIAL (GENERAL)
Est. value
$780,000
RETAIL STORES
Est. value
$575,000
AUTO REPAIR, GARAGE
Est. value
$565,000
OFFICE BUILDING
Est. value
$465,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE 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
1966
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
7.14 ac
Current owner
From public records · entity-resolved
Willys Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
881 W BAXTER DR #100, SOUTH JORDAN, UT 84095-8506
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2021
—
Willys Properties LLC
Bella Creek Investors 2 LLC
Special Warranty Deed
—
Sep 14, 2017
—
Ctic2 LLC
4boys Investments LLC
Grant Deed
related
—
Jul 2, 2014
—
4boys Investments LLC
Knorovsky,alexander & Anna
Warranty Deed
$1,840,000 · Bank Of Odessa
Dec 7, 2011
—
Knorovsky,alexander & Anna
Surplus Disposition LLC
Warranty Deed
related
—
—
—
Knorovsky,alexander & Anna
—
Loan Modification
related
—
—
—
Timber Creek Apartments INC
—
Deed Of Trust
related
$2,200,000 · Citizens Federal Bank Fsb
—
—
Timber Creek Apartments INC
—
Deed Of Trust
related
$160,000 · Paul M Demo
—
—
4boys Investments LLC
—
Deed Of Trust
related
$600,000 · Pony Express Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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