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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Apartment buildings
214 Chapel Dr Ankeny, IA 50023-2259
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0024157
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
10,240 SF
Lot
0.88 ac (38,430 SF)
Zoning code
R-3
APN
181/00392-170-002
UPID
US25-0024157
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
$905k
CAP Approach
CAP
$1.22M
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$995k
Owner & transaction history
Tt&c Cooperative Housing · 1 yrs held
Tt&c Cooperative Housing
since 2024
Last sale
$1.0M
5 recorded transactions
Zoning & alternative use
R-3 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+54.7%
Medical building
$1.5M
+50.4%
Commercial (general)
$1.5M
+43.9%
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
$960,000
ML approach
$905,000
CAP Approach
CAP Return
Estimation
6%
$1,325,000
6.5%
$1,220,000
7%
$1,135,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Current use
AUTO REPAIR, GARAGE
$1,590,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$1,545,000
Change: +50% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,480,000
Change: +44% · Conversion: Moderate
RETAIL STORES
$1,195,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,010,000
Change: -2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$855,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±10% · vs last sale $1.00M (Sep 2 2021)
Last sale anchor
$1.00M
Sep 2 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
$97 / 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
$14,792
Tax year 2020
Assessed value
$1,030,000
Assessed 2023
Previous assessed
$1,030,000
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$124,000
Assessed improvement
$906,000
Land market value
$124,000
Improvement market value
$906,000
Total market value
$1,030,000
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
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
16
Rooms
5
Bathrooms
2
Total area
10,240 SF
Lot
0.88 ac (38,430 SF)
Zoning code
R-3
APN
181/00392-170-002
UPID
US25-0024157
Jurisdiction
POLK
Zoning & alternative use
R-3 · Ankeny, IA
Zoning R-3 · permitted uses
R-3 · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ankeny. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$855,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
16
Rooms
5
Bathrooms
2
Lot
0.88 ac
Current owner
From public records · entity-resolved
Tt&c Cooperative Housing
Individual
Mailing address
1819 ADAMS ST #323, MANKATO, MN 56001-4841
Ownership since
2024
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
Aug 16, 2024
$1,350,000
Tt&c Cooperative Housing
Ankeny Acres LLC
Warranty Deed
$1,012,500 · Leighton State Bank
Sep 2, 2021
$1,000,000
Ankeny Acres LLC
Linden Residence 11 Housing Coop As
Warranty Deed
$840,000 · Lima One Capital LLC
May 11, 2012
—
Hsng Coope Linden Residence
Linden Residence LLC
Quit Claim Deed
related
—
Sep 6, 2006
$550,000
Linden Residence LLC
Molayal,matthew & Sara
Warranty Deed
$600,000 · Horizon Bank
—
—
Linden Residence LLC
—
Deed Of Trust
related
$603,824 · Great Western 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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