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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Apartment buildings
221 2nd E St, Hastings, MN 55033-1205
Entity Owned
21-yr Hold
Property ID
US46-0291877
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1886
Construction
CONCRETE
Total area
19,828 SF
Lot
0.28 ac (12,197 SF)
Zoning code
R
APN
19-32150-03-081
UPID
US46-0291877
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
-
Hastings Beauty School Vocational School Training Center
-
Lynch Capital Corporation Loan Service Financial Advisor
-
Gardner House Hotel Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$765k
Owner & transaction history
Gardner House LLC · 21 yrs held
Gardner House LLC
since 2005
6 recorded transactions
Zoning & alternative use
R · Hastings, MN
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$39 / 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
$21,184
Tax year 2023
Assessed value
$1,247,000
Assessed 2022
Previous assessed
$1,192,400
+4.6% YoY
Effective rate
1.70%
On assessed value
Assessed land
$176,600
Assessed improvement
$1,070,400
Land market value
$176,600
Improvement market value
$1,070,400
Total market value
$1,247,000
Applied tax rate
19.0000
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
1886
Construction
CONCRETE
Heating
NONE
Units
11
Bathrooms
14
Total area
19,828 SF
Lot
0.28 ac (12,197 SF)
Zoning code
R
APN
19-32150-03-081
UPID
US46-0291877
Jurisdiction
DAKOTA
Zoning & alternative use
R · Hastings, MN
Zoning R · permitted uses
R · Hastings, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hastings. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1886
Construction
CONCRETE
Heating
NONE
Units
11
Bathrooms
14
Lot
0.28 ac
Current owner
From public records · entity-resolved
Gardner House LLC
Entity
Mailing address
221 2ND ST E, HASTINGS, MN 55033-1205
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2020
—
Gardner House LLC
—
Deed
related
$97,904 · Merchants Bank
Sep 4, 2019
—
Gardner House LLC
—
Deed
related
$40,000 · Merchants Bank NA
Apr 22, 2005
$910,000
Gardner House LLC
Clausen,earl W
Warranty Deed
$1,188,000 · Vermillion State Bank
—
—
Gardner House LLC
—
Deed Of Trust
related
$557,000 · Twin Cities-metro Certified De
—
—
Gardner House LLC
—
Deed Of Trust
related
$605,201 · Merchants Bk
—
—
Gardner House LLC
—
Deed Of Trust
related
$58,000 · Housing & Redev Authority Cty
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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