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Property profile & analytics
OFF-MARKET
Estimated value
$1,995,000
Garden apartment buildings
201 Bavarian St Middletown, OH 45044-5490
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-1945623
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1974
Total area
28,800 SF
Lot
2.18 ac (95,135 SF)
APN
Q6541-028.000-127
UPID
US66-1945623
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
$1.40M
Blend (final)
Blend
$2.00M
Owner & transaction history
Bavarian Woods Apartments Owner LLC · 4 yrs held
Bavarian Woods Apartments Owner LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.3M
+234.1%
Neighborhood: shopping center
$3.2M
+226.2%
Auto repair, garage
$3.0M
+207.1%
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
MEDICAL BUILDING
$3,260,000
Change: +234% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,185,000
Change: +226% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,000,000
Change: +207% · Conversion: Difficult
OFFICE BUILDING
$1,685,000
Change: +73% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,420,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$1,400,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±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
$69 / 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
$62,210
Tax year 2023
Assessed value
$1,036,520
Assessed 2023
Previous assessed
$695,760
+49.0% YoY
Effective rate
6.00%
On assessed value
Assessed land
$126,000
Assessed improvement
$910,520
Land market value
$360,000
Improvement market value
$2,601,490
Total market value
$2,961,490
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1974
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Stories
2
Units
36
Bathrooms
4
Total area
28,800 SF
Lot
2.18 ac (95,135 SF)
APN
Q6541-028.000-127
UPID
US66-1945623
Jurisdiction
BUTLER
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
MEDICAL BUILDING
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
OFFICE BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
HOT WATER
Cooling
Yes
Stories
2
Buildings
2
Units
36
Bathrooms
4
Lot
2.18 ac
Current owner
From public records · entity-resolved
Bavarian Woods Apartments Owner LLC
Entity
Mailing address
2195 N STATE HWY 83RD STE 14B, FRANKTOWN, CO 80116-9604
Ownership since
2022
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
Jul 8, 2022
—
Bavarian Woods Apartments Owner LLC
Bavarian Woods Owner II LLC
Limited Warranty Deed
$17,800,000 · Walker & Dunlop LLC
Apr 12, 2019
—
Bavarian Woods Owner II LLC
Bavarian Woods Owner LLC
Correction Deed
related
—
Apr 5, 2019
—
Bavarian Woods Owner II LLC
Bavarian Woods Owner LLC
Quit Claim Deed
—
Dec 4, 2012
—
Bavarian Woods Owner LLC
—
Deed Of Trust
related
$8,000,000 · New York Community Bank
Sep 21, 2007
—
Bavarian Woods LLC
Pami Bavarian Woods LLC
Quit Claim Deed
related
$9,900,000 · Prudential Mortgage Capital Co
Apr 28, 2006
$6,500,000
Pami Bavarian Woods LLC
Sheriff Of Butler County
Trustees Deed
related
—
Jun 10, 1999
$2,076,300
Garden Bavarian Woods LP
Bavarian Woods NA
Grant Deed
related
$6,200,000 · Garden Capital LLC
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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