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Property profile & analytics
OFF-MARKET
Estimated value
$2,555,000
Apartment buildings
2140 Grand Ave West Des Moines, IA 50265-4244
Entity Owned
16-yr Hold
Absentee Owner
Property ID
US25-0379426
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1977
Construction
FRAME
Total area
28,878 SF
Lot
4 ac (174,240 SF)
Zoning code
RH
APN
320/00678-007-000
UPID
US25-0379426
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
-
Elementary School High School
-
Forget Properties Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.56M
Owner & transaction history
Forget Properties 3 LLC · 16 yrs held
Forget Properties 3 LLC
since 2010
3 recorded transactions
Zoning & alternative use
RH · West Des Moines, IA
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Des Moines 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%
$3,730,000
6.5%
$3,445,000
7%
$3,200,000
Blend value · Realmo final
$2.56M
Range $2.30M – $2.81M · ±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
$88 / 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
$116,018
Tax year 2020
Assessed value
$6,600,000
Assessed 2023
Previous assessed
$6,600,000
+0.0% YoY
Effective rate
1.76%
On assessed value
Assessed land
$633,000
Assessed improvement
$5,967,000
Land market value
$633,000
Improvement market value
$5,967,000
Total market value
$6,600,000
Applied tax rate
20.0000
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
1977
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
3
Units
36
Rooms
6
Bathrooms
2
Total area
28,878 SF
Lot
4 ac (174,240 SF)
Zoning code
RH
APN
320/00678-007-000
UPID
US25-0379426
Jurisdiction
POLK
Zoning & alternative use
RH · West Des Moines, IA
Zoning RH · permitted uses
RH · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1977
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
3
Units
36
Rooms
6
Bathrooms
2
Lot
4 ac
Current owner
From public records · entity-resolved
Forget Properties 3 LLC
Entity
Mailing address
8421 UNIVERSITY BLVD STE G, CLIVE, IA 50325-1036
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Jun 24, 2010
—
Forget Properties 3 LLC
Forget Properties 3a LLC
Quit Claim Deed
related
—
—
—
Forget Properties 3 LLC
—
Deed Of Trust
related
$2,850,000 · Greystone Servicing Corp
—
—
Forget Properties 3a LLC
—
Deed Of Trust
related
$660,000 · Community State 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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