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Property profile & analytics
OFF-MARKET
Estimated value
$3,260,000
Apartment buildings
2208 Elmwood Dr 10, Dallas, OR 97338-3502
Entity Owned
4-yr Hold
Free & Clear
Property ID
US71-1011761
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Total area
23,746 SF
Lot
3.03 ac (131,987 SF)
Zoning code
RA
APN
08505-B0-01408
UPID
US71-1011761
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
$3.59M
CAP Approach
CAP
$4.04M
Comparable Approach
Comparable
$3.39M
Blend (final)
Blend
$3.26M
Owner & transaction history
Schmoldt Property 40 LLC · 4 yrs held
Schmoldt Property 40 LLC
since 2022
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
RA · Dallas, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+31.0%
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 Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas 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
$3,260,000
ML approach
$3,585,000
CAP Approach
CAP Return
Estimation
6%
$4,375,000
6.5%
$4,040,000
7%
$3,750,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,695,000
Current use
OFFICE BUILDING
$4,840,000
Change: +31% · Conversion: Moderate
RETAIL STORES
$3,140,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.26M
Range $2.93M – $3.59M · ±10% · vs last sale $3.20M (Dec 10 2021)
Last sale anchor
$3.20M
Dec 10 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
$137 / 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
$20,061
Tax year 2023
Assessed value
$1,435,770
Assessed 2023
Previous assessed
$1,393,960
+3.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$231,250
Assessed improvement
$1,204,520
Land market value
$901,740
Improvement market value
$2,132,950
Total market value
$3,034,690
Applied tax rate
201.0000
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
1974
Heating
NONE
Buildings
24
Total area
23,746 SF
Lot
3.03 ac (131,987 SF)
Zoning code
RA
APN
08505-B0-01408
UPID
US71-1011761
Jurisdiction
POLK
Zoning & alternative use
RA · Dallas, OR
Zoning RA · permitted uses
RA · Dallas, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dallas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
OFFICE BUILDING
Est. value
$4.8M
RETAIL STORES
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
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
NONE
Buildings
24
Lot
3.03 ac
Current owner
From public records · entity-resolved
Schmoldt Property 40 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
209 DUBOIS CT, VANCOUVER, WA 98661-6654
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
Mar 17, 2022
$3,200,000
Schmoldt Property 40 LLC
Linda M Bell
Warranty Deed
—
Dec 10, 2021
$3,200,000
Schmoldt Property 40 LLC
Linda M Bell
Warranty Deed
$2,239,112 · Columbia Community Cu
Aug 31, 2021
—
Linda M Bell
Linda Bell
Intrafamily Transfer
related
—
Feb 22, 2021
—
Christian J Mrozek
Village Apartments Dallas LLC
Quit Claim Deed
related
—
Dec 11, 2015
—
Village Apartments Dallas LLC
Wall Family Trust
Grant Deed
—
Apr 21, 2008
—
Christian J Mrozek
Schneider J A & M K Trust
Grant Deed
related
—
Aug 4, 1994
$190,000
James Schneider
Unknown
Grant Deed
—
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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