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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Apartment buildings
1517 Park Rd Spokane Valley, WA 99212-1161
Individually Owned
25-yr Hold
Property ID
US90-0248719
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1977
Total area
4,320 SF
Lot
0.47 ac (20,512 SF)
APN
35131.0102
UPID
US90-0248719
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
$660k
Comparable Approach
Comparable
$406k
Blend (final)
Blend
$570k
Owner & transaction history
Randy L Welsh · 25 yrs held
Randy L Welsh
since 2001
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 Spokane Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane Valley 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%
$715,000
6.5%
$660,000
7%
$615,000
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$132 / 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
$5,236
Tax year 2023
Assessed value
$507,100
Assessed 2024
Previous assessed
$321,600
+57.7% YoY
Effective rate
1.03%
On assessed value
Assessed land
$56,670
Assessed improvement
$450,430
Land market value
$56,670
Improvement market value
$450,430
Total market value
$507,100
Applied tax rate
148.0000
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
1977
Heating
BASEBOARD
Buildings
3
Stories
2
Rooms
18
Bathrooms
6
Total area
4,320 SF
Lot
0.47 ac (20,512 SF)
APN
35131.0102
UPID
US90-0248719
Jurisdiction
SPOKANE
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
1977
Heating
BASEBOARD
Stories
2
Buildings
3
Rooms
18
Bathrooms
6
Lot
0.47 ac
Current owner
From public records · entity-resolved
Randy L Welsh
Individual
Mailing address
PO BOX 457, LIBERTY LAKE, WA 99019-0457
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2020
—
Randy L Welsh
—
Deed
related
$340,000 · Numerica Cu
Jun 29, 2001
$105,000
Randy L Welsh
Banner Bank
Grant Deed
$84,000 · Banner Bank
Jan 3, 2001
$151,834
Banner Bank
Borunda,mark V
Trustees Deed
related
—
Dec 19, 1995
$177,000
Mark V Borunda
Koehler,warren H & Pamela V
Grant Deed
$132,000 · First Savings Bank Washington
—
—
Randy Welsh
—
Deed Of Trust
related
$157,000 · Kinville Living Trust (lt)
—
—
Mark V Borunda
—
Deed Of Trust
related
$79,150 · Individual
—
—
Randy L Welsh
—
Deed Of Trust
related
$80,000 · Kinville Living Trust (lt)
—
—
Randy L Welsh
—
Deed Of Trust
related
$340,000 · Numerica Cu
—
—
Randy Welsh
—
Loan Modification
related
$157,000 · Kinville Living Trust (lt)
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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