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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Apartment buildings
1913 1st St Ankeny, IA 50023-2454
Entity Owned
5-yr Hold
Property ID
US25-0660950
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
14,204 SF
Lot
1.26 ac (54,973 SF)
APN
181/00392-267-203
UPID
US25-0660950
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
Current use
Occupant on record · Public records
-
Elite Estates Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
$1.70M
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.23M
Owner & transaction history
Ffr Ankeny 1 LLC · 5 yrs held
Ffr Ankeny 1 LLC
since 2021
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+16.2%
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 Ankeny submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ankeny 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
$1,200,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
$1,835,000
6.5%
$1,695,000
7%
$1,575,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,425,000
Current use
RETAIL STORES
$1,655,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,400,000
Change: -2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,185,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10% · vs last sale $1.25M (Mar 12 2021)
Last sale anchor
$1.25M
Mar 12 2021
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
$87 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$29,720
Tax year 2020
Assessed value
$1,430,000
Assessed 2023
Previous assessed
$1,430,000
+0.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$145,000
Assessed improvement
$1,285,000
Land market value
$145,000
Improvement market value
$1,285,000
Total market value
$1,430,000
Applied tax rate
6.0000
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
1973
Construction
FRAME
Heating
NONE
Buildings
2
Stories
2
Units
16
Total area
14,204 SF
Lot
1.26 ac (54,973 SF)
APN
181/00392-267-203
UPID
US25-0660950
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
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
$1.4M
RETAIL STORES
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1973
Construction
FRAME
Heating
NONE
Stories
2
Buildings
2
Units
16
Lot
1.26 ac
Current owner
From public records · entity-resolved
Ffr Ankeny 1 LLC
Entity
Mailing address
555 NE BELLFLOWER CT, WAUKEE, IA 50263-6200
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2021
$1,250,000
Ffr Ankeny 1 LLC
Lamar Valley LLC
Warranty Deed
$1,000,000 · City State Bank
Dec 18, 2017
$1,200,000
Lamar Valley LLC
Elite Residential Housing Cooperati
Warranty Deed
$900,000 · City State Bank
Dec 27, 2012
$486,000
118 Nw Clg Avenue Hsng Coopera
Elite Residl Hsng Cooperative
Warranty Deed
—
May 11, 2012
$890,000
Elite Residl Hsng Cooperative
Elite Properties LP
Warranty Deed
related
$725,000 · West Bk
—
—
Elite Residl Hsng Cooperative
—
Deed Of Trust
related
$736,000 · Bank Of The West
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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