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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Apartment buildings
178 Meadowlake Dr R Downingtown, PA 19335-2147
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2415838
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Total area
6,916 SF
Lot
40.3 ac (1,755,468 SF)
Zoning code
C1
APN
3904 011402A0
UPID
US73-2415838
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
$1.06M
CAP Approach
CAP
$1.16M
Comparable Approach
Comparable
$558k
Blend (final)
Blend
$920k
Owner & transaction history
500 Meadowlake Drive Assocs · 20 yrs held
500 Meadowlake Drive Assocs
since 2006
4 recorded transactions
Zoning & alternative use
C1 · Downingtown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+12.6%
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 Downingtown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Downingtown 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
$1,055,000
CAP Approach
CAP Return
Estimation
6%
$1,250,000
6.5%
$1,155,000
7%
$1,070,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,315,000
Current use
AUTO REPAIR, GARAGE
$1,480,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,285,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±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
$133 / 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
$1,349,934
Tax year 2024
Assessed value
$25,971,250
Assessed 2024
Previous assessed
$25,971,250
+0.0% YoY
Effective rate
5.20%
On assessed value
Assessed land
$711,950
Assessed improvement
$25,259,300
Land market value
$711,950
Improvement market value
$25,497,630
Total market value
$26,209,580
Applied tax rate
39.0000
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
1974
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
379
Units
8
Total area
6,916 SF
Lot
40.3 ac (1,755,468 SF)
Zoning code
C1
APN
3904 011402A0
UPID
US73-2415838
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Downingtown, PAZoning C1 · permitted uses
C1 · Downingtown, PA
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
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
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
1974
Heating
FORCED AIR
Cooling
Yes
Buildings
379
Units
8
Lot
40.3 ac
Current owner
From public records · entity-resolved
500 Meadowlake Drive Assocs
Individual
Mailing address
112 S FRENCH ST105MP, WILMINGTON, DE 19801-5035
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2019
—
Preserve At Milltown Lantern O
—
Grant Deed
related
$55,000,000 · Berkadia Com'l Mtg
Feb 17, 2006
$36,000,000
500 Meadowlake Drive Assocs
Meadowlake Apartments
Grant Deed
$8,000,000 · Reilly Mortgage Group INC
—
—
500 Meadowlake Drive Assocs Ll
—
Deed Of Trust
related
$42,600,000 · Berkadia Com'l Mtg
—
—
Meadowlake Apartments Co
—
Deed Of Trust
related
$5,150,000 · Reilly Mortgage Group 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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