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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Apartment buildings
1514 4th St Ankeny, IA 50023-2250
Entity Owned
5-yr Hold
Property ID
US25-0208089
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
4,554 SF
Lot
0.7 ac (30,500 SF)
Zoning code
R-3
APN
181/00392-212-001
UPID
US25-0208089
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
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$768k
Blend (final)
Blend
$950k
Owner & transaction history
Provision Properties II LLC · 5 yrs held
Provision Properties II LLC
since 2021
Last sale
$970,000
7 recorded transactions
Zoning & alternative use
R-3 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$705,000
+54.7%
Medical building
$685,000
+50.4%
Commercial (general)
$660,000
+43.9%
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 Ankeny submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ankeny 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
$930,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$705,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$685,000
Change: +50% · Conversion: Moderate
COMMERCIAL (GENERAL)
$660,000
Change: +44% · Conversion: Moderate
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $970k (Jul 2 2021)
Last sale anchor
$970k
Jul 2 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
$209 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$14,214
Tax year 2020
Assessed value
$994,000
Assessed 2023
Previous assessed
$994,000
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$77,500
Assessed improvement
$916,500
Land market value
$77,500
Improvement market value
$916,500
Total market value
$994,000
Applied tax rate
6.0000
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
1972
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
2
Units
8
Rooms
5
Bathrooms
1
Total area
4,554 SF
Lot
0.7 ac (30,500 SF)
Zoning code
R-3
APN
181/00392-212-001
UPID
US25-0208089
Jurisdiction
POLK
Zoning & alternative use
R-3 · Ankeny, IA
Zoning R-3 · permitted uses
R-3 · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ankeny. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$705,000
MEDICAL BUILDING
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$660,000
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1972
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
8
Rooms
5
Bathrooms
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
Provision Properties II LLC
Entity
Mailing address
1528 RIO VLY DR, CLIVE, IA 50325-6539
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
Jul 2, 2021
$970,000
Provision Properties II LLC
Morrison Rentals Co Op V INC
Warranty Deed
$2,216,000 · Raccoon Valley Bank
Jun 2, 2016
$540,000
Morrison Rentals Co-op V INC
George,tony T & Maureen
Grant Deed
$393,550 · Bank Of The West
Jan 6, 2016
—
Tony T George
T G Rentals II-residential Hsn
Quit Claim Deed
related
—
Jan 6, 2016
$540,100
Morrison Rentals-coop V INC
Tg Rentals II Residl Hsng Coo
Dual Purpose Document
related
$486,000 · Tg Rentals II Resid'l Hsng Coo
Apr 30, 2010
—
Tony T George
Tg Rentals Lc
Quit Claim Deed
related
—
Apr 21, 2005
—
Tg Rentals Lc
George,tony T
Quit Claim Deed
related
—
—
—
Rentals Hsng Coo Tg II
—
Deed Of Trust
related
$375,000 · Ames Community Bank
—
—
Tg Rentals Lc
—
Deed Of Trust
related
$309,162 · Liberty Federal Savings Bank
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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