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Property profile & analytics
OFF-MARKET
Estimated value
$8,530,000
Apartment buildings
1983 Flanders St, Portland, OR 97209-2050
Trust Owned
16-yr Hold
~
Est. High Equity
Property ID
US71-1012320
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Total area
31,284 SF
Lot
0.23 ac (10,000 SF)
Zoning code
RH
APN
1N1E33DB 02100
UPID
US71-1012320
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
-
Tiny Love Midwifery Midwife
-
The Premiere Apartments Apartment Building
-
Columbia Land Co Real Estate Agency
-
J H Clifton Painters Painting Service General Contractor
-
Cold Press Coaching Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.53M
Blend (final)
Blend
$8.53M
Owner & transaction history
Ford Thomas & Donna Living Trust · 16 yrs held
Ford Thomas & Donna Living Trust
since 2010
3 recorded transactions
Zoning & alternative use
RH · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.7M
+28.8%
Commercial (general)
$10.4M
+25.1%
Auto repair, garage
$9.6M
+14.8%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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)
$8,320,000
Current use
RESTAURANT
$10,715,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,405,000
Change: +25% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,550,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$9,450,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$9,390,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$9,040,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$8.53M
Range $7.68M – $9.38M · ±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
$273 / 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
$82,851
Tax year 2023
Assessed value
$3,129,560
Assessed 2023
Previous assessed
$3,038,410
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,000,000
Improvement market value
$5,338,900
Total market value
$7,338,900
Applied tax rate
1.0000
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
1930
Heating
NONE
Stories
4
Total area
31,284 SF
Lot
0.23 ac (10,000 SF)
Zoning code
RH
APN
1N1E33DB 02100
UPID
US71-1012320
Jurisdiction
MULTNOMAH
Zoning & alternative use
RH · Portland, OR
Zoning RH · permitted uses
RH · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.3M
RESTAURANT
Est. value
$10.7M
COMMERCIAL (GENERAL)
Est. value
$10.4M
AUTO REPAIR, GARAGE
Est. value
$9.6M
MEDICAL BUILDING
Est. value
$9.5M
RETAIL STORES
Est. value
$9.4M
OFFICE BUILDING
Est. value
$9.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1930
Heating
NONE
Stories
4
Lot
0.23 ac
Current owner
From public records · entity-resolved
Ford Thomas & Donna Living Trust
Trust
Mailing address
1983 NW FLANDERS ST STE #106, PORTLAND, OR 97209-2090
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2010
—
Ford Thomas & Donna Living Trust
—
Trustees Deed
related
$2,300,000 · Corn W A & C K Living Tr (pt)
—
—
Columbia Land Co
—
Deed Of Trust
related
$70,000 · Sluslaw Valley Bank
—
—
Columbia Land Co
—
Deed Of Trust
related
$884,000 · Sluslaw Valley Bank
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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