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Property profile & analytics
OFF-MARKET
Estimated value
$1,040,000
Apartment buildings
1860 Rees Hl SE Rd, Salem, OR 97306-2860
Trust Owned
13-yr Hold
Free & Clear
Property ID
US71-1013330
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2005
Total area
9,048 SF
Lot
4.65 ac (202,554 SF)
Zoning code
RM2
APN
083W23DC05800
UPID
US71-1013330
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
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.04M
Owner & transaction history
Balmuth Laurie L Trust · 13 yrs held
Balmuth Laurie L Trust
since 2012
7 recorded transactions
Zoning & alternative use
RM2 · Salem, OR
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$640,000
Current use
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±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
$115 / 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
$78,671
Tax year 2023
Assessed value
$4,008,320
Assessed 2023
Previous assessed
$3,891,580
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$595,470
Improvement market value
$6,923,410
Total market value
$7,518,880
Applied tax rate
24,010.0000
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
2005
Heating
NONE
Buildings
4
Stories
1
Total area
9,048 SF
Lot
4.65 ac (202,554 SF)
Zoning code
RM2
APN
083W23DC05800
UPID
US71-1013330
Jurisdiction
MARION
Zoning & alternative use
RM2 · Salem, OR
Zoning RM2 · permitted uses
RM2 · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS) Current
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
2005
Heating
NONE
Stories
1
Buildings
4
Lot
4.65 ac
Current owner
From public records · entity-resolved
Balmuth Laurie L Trust
Trust
Free & Clear · 13 yrs held
Mailing address
PO BOX 5790, SALEM, OR 97304-0790
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2012
—
Balmuth Laurie L Trust
Balmuth,laurie L
Quit Claim Deed
related
—
Oct 31, 2011
—
Balmuth,laurie L
Roger W Yost
Warranty Deed
$1,710,000 · Jp Morgan Chase Bk
Nov 4, 2005
$3,495,000
Roger W Yost
Kerr Holdings LLC
Warranty Deed
$2,700,000 · Umpqua Bank
Jun 23, 1988
$181,664
Inter-pacific Development Co
Unknown
Grant Deed
—
—
—
D K Investment Co LLC
—
Deed Of Trust
related
$65,000 · Individual
—
—
Kerr Holdings LLC
—
Deed Of Trust
related
$2,750,000 · Resource Fund
—
—
D K Investment Co LLC
—
Deed Of Trust
related
$50,000 · Individual
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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