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Property profile & analytics
OFF-MARKET
Estimated value
$3,275,000
High-rise multifamily apartments
1811 Northern Cedar NW Ave, Bemidji, MN 56601-2874
Entity Owned
6-yr Hold
Free & Clear
Property ID
US46-2629491
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2016
Construction
WOOD
Total area
13,865 SF
Lot
4.73 ac (206,039 SF)
APN
80.00147.00
UPID
US46-2629491
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
$3.59M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$3.28M
Owner & transaction history
Fankhanel LLC · 6 yrs held
Fankhanel LLC
since 2020
Last sale
$3.1M
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 Bemidji submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bemidji 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
$3,330,000
ML approach
$3,590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.28M
Range $2.95M – $3.60M · ±10% · vs last sale $3.09M (Mar 2 2020)
Last sale anchor
$3.09M
Mar 2 2020
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
$236 / 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
$78,018
Tax year 2024
Assessed value
$4,651,900
Assessed 2024
Previous assessed
$4,651,900
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$383,000
Assessed improvement
$4,268,900
Land market value
$383,000
Improvement market value
$4,268,900
Total market value
$4,651,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2016
Construction
WOOD
Heating
BASEBOARD
Buildings
2
Total area
13,865 SF
Lot
4.73 ac (206,039 SF)
APN
80.00147.00
UPID
US46-2629491
Jurisdiction
BELTRAMI
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
2016
Construction
WOOD
Heating
BASEBOARD
Buildings
2
Lot
4.73 ac
Current owner
From public records · entity-resolved
Fankhanel LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 946, BEMIDJI, MN 56619-0946
Ownership since
2020
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
Mar 2, 2020
$3,089,100
Fankhanel LLC
Bemidji Cedar Pointe Estates Lllp
Warranty Deed
—
Oct 30, 2015
$670,000
Dmk LLC
Citizens State Bank Midwest
Limited Warranty Deed
$127,500 · Ultima Bank Minnesota
Oct 30, 2015
$580,000
Bemidji Cedar Pointe Estate Lllp
Dmk LLC
Warranty Deed
—
Nov 13, 2012
$84,861
Citizens State Bank Midwest
Antler Ridge LLC
Sheriffs Deed
related
—
Nov 13, 2012
$576,185
Citizens State Bank Midwest
Antler Ridge LLC
Sheriffs Deed
related
—
Apr 23, 2010
$443,900
Antler Ridge LLC
Citizens State Bank Midwest
Warranty Deed
—
Aug 28, 2009
—
Edward J Binkley
Ruth Lorraine Binkley
Affidavit Of Death Of Joint Tenant
related
—
Jul 2, 2007
$540,000
Bubbastar II LLC
V 3 Development Group LLC
Warranty Deed
—
Apr 4, 2006
$525,000
V3 Development Group LLC
Fordyce C Jensen Revocable Lifetime
Deed
$341,000 · Citizens State Bank Midwest
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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