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Property profile & analytics
OFF-MARKET
Estimated value
$3,250,000
Apartment buildings
1509 Market Dr, Fairview, OR 97024-3864
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-0304167
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2005
Total area
15,343 SF
Lot
0.53 ac (23,090 SF)
Zoning code
VA
APN
1N3E33AA 05700
UPID
US71-0304167
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
by Request
CAP Approach
CAP
$3.03M
Comparable Approach
Comparable
$2.98M
Blend (final)
Blend
$3.25M
Owner & transaction history
Maria Everhart · 4 yrs held
Maria Everhart
since 2022
Last sale
$3.6M
7 recorded transactions
Zoning & alternative use
VA · Fairview, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.6M
+14.8%
Auto repair, garage
$4.5M
+12.6%
Retail stores
$4.5M
+12.3%
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 Fairview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairview 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
$3,320,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,285,000
6.5%
$3,030,000
7%
$2,815,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,040,000
Current use
MEDICAL BUILDING
$4,635,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,545,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$4,535,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,350,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$3,945,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$3.25M
Range $2.93M – $3.58M · ±10% · vs last sale $3.60M (Feb 28 2022)
Last sale anchor
$3.60M
Feb 28 2022
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
$212 / 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
$19,174
Tax year 2023
Assessed value
$1,103,520
Assessed 2023
Previous assessed
$1,071,380
+3.0% YoY
Effective rate
1.74%
On assessed value
Land market value
$241,570
Improvement market value
$1,880,430
Total market value
$2,122,000
Applied tax rate
240.0000
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
2005
Heating
BASEBOARD
Cooling
CENTRAL
Stories
2
Bathrooms
12
Total area
15,343 SF
Lot
0.53 ac (23,090 SF)
Zoning code
VA
APN
1N3E33AA 05700
UPID
US71-0304167
Jurisdiction
MULTNOMAH
Zoning & alternative use
VA · Fairview, OR
Zoning VA · permitted uses
VA · Fairview, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.5M
RETAIL STORES
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
2005
Heating
BASEBOARD
Cooling
Yes
Stories
2
Bathrooms
12
Lot
0.53 ac
Current owner
From public records · entity-resolved
Maria Everhart
Individual
Mailing address
3962 OAKMORE RD, OAKLAND, CA 94602-1856
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
—
Maria Everhart
Mpa LLC
Warranty Deed
—
Feb 28, 2022
$3,600,000
Fairview Village Homes LLC
Mpa LLC
Warranty Deed
$2,230,000 · Orix Real Estate Capital LLC
Nov 22, 2017
—
Mpa LLC
—
Deed
related
$735,000 · Rpe Trust (ct)
Jul 15, 2015
—
Mpa LLC
Market Place Apartment Tic
Warranty Deed
$877,000 · Washington Federal
Jan 28, 2010
—
Rpe Trust
Sessions Partners LLC
Quit Claim Deed
related
$984,000 · Washington Federal Savings
Dec 29, 2008
—
Sessions Partners LLC
Everhart,garth C & Maria
Grant Deed
related
—
May 9, 2006
$50,000
Rpe Trust
Everhart,garth C
Warranty Deed
—
Apr 21, 2006
—
Garth C Everhart
Marketplace Apartments LLC
Warranty Deed
related
—
Mar 9, 2006
—
Marketplace Apartments LLC
Marketplace Apartments LLC
Quit Claim Deed
related
—
Sep 30, 2005
—
Marketplace Apartments LLC
—
Trustees Deed
related
$1,325,000 · Banner Bank
Feb 13, 2004
$165,000
Marketplace Apartments
Fairview Village Development
Grant Deed
$1,180,097 · Banner Bank
Feb 27, 2002
—
Fairview Development Corp
—
Deed Of Trust
related
$2,350,000 · Pacific Continental Bank
—
—
Garth C Everhart
—
Deed Of Trust
related
$1,012,194 · Banner Bank
—
—
Mpa LLC
—
Deed Of Trust
related
$735,000 · Rpe Trust (ct)
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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