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Property profile & analytics
OFF-MARKET
Estimated value
$12,155,000
Apartment buildings
1517 Bishop SW Rd, Tumwater, WA 98512-7367
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0913079
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1939
Construction
WOOD FRAME
Total area
58,892 SF
Lot
3.5 ac (152,460 SF)
APN
1270-32-42200
UPID
US90-0913079
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
$11.36M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.16M
Owner & transaction history
Fourth Streets Kingswood LLC · 2 yrs held
Fourth Streets Kingswood LLC
since 2023
7 recorded transactions
Zoning & alternative use
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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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
by Request
CAP Approach
CAP Return
Estimation
6%
$12,310,000
6.5%
$11,360,000
7%
$10,550,000
Blend value · Realmo final
$12.16M
Range $10.94M – $13.37M · ±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
$206 / 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
$47,860
Tax year 2023
Assessed value
$25,117,700
Assessed 2022
Previous assessed
$6,342,700
+296.0% YoY
Effective rate
0.19%
On assessed value
Assessed land
$2,112,900
Assessed improvement
$23,004,800
Land market value
$2,112,900
Improvement market value
$23,004,800
Total market value
$25,117,700
Applied tax rate
440.0000
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
1939
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
58,892 SF
Lot
3.5 ac (152,460 SF)
APN
1270-32-42200
UPID
US90-0913079
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1939
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
3.5 ac
Current owner
From public records · entity-resolved
Fourth Streets Kingswood LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2023
—
Fourth Streets Kingswood LLC
Rockwell Place LLC
Quit Claim Deed
related
—
Jul 7, 2023
—
City Of Tumwater
Rockwell Place LLC
Warranty Deed
—
Aug 21, 2020
$382,185
Fourth Street Housing LLC
T & S Hess Properties LLC
Warranty Deed
—
Aug 21, 2020
$567,815
Fourth Street Housing LLC
Farmhouse Design Co LLC
Warranty Deed
—
Aug 21, 2020
—
T & S Hess Properties LLC
Sara J Hess
Quit Claim Deed
related
—
Apr 17, 2019
$1,958
Farmhouse Design Co LLC
Schumann,mildred G
Warranty Deed
—
Dec 28, 2017
—
T & S Hess Properties LLC
Terry E Hess
Quit Claim Deed
related
—
Dec 18, 2015
$99,500
Terry E Hess
Columbia St. Bk
Grant Deed
—
—
—
Kenneth A Schumann
—
Deed Of Trust
related
$51,738 · Citifinancial INC
—
—
Kenneth A Schumann
—
Deed Of Trust
related
$24,251 · Seafirst Bank
—
—
Kenneth A Schumann
—
Deed Of Trust
related
$40,000 · Bank Of America
—
—
Kenneth A Schumann
—
Deed Of Trust
related
$72,771 · Citifinancial INC
—
—
Kenneth A Schumann
—
Deed Of Trust
related
$110,932 · Citifinancial INC
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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