2411th 14th NW Ave Gig Harbor, WA 98335
Entity Owned
19-yr Hold
Free & Clear
Estimated value (blended)
$1.06M
Range $950k – $1.16M (±10%)
Property ID
US90-1023834
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1968
Construction
WOOD FRAME
Total area
7,440 SF
Lot
4 ac (174,240 SF)
Zoning code
R10
APN
221281024
UPID
US90-1023834
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$940k
Blend (final)
Blend
$1.06M
Owner & transaction history
since 2007
6 recorded transactions
Zoning & alternative use
R10 · Gig Harbor, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.06M
Value range
$950k – $1.16M
±10% around blend
Estimated value / SF
$142 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
40
$950k
blend $1.06M
$1.16M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,440 SF
Lot area
4 ac
Year built
1968
Stories
3
APN
221281024
Assessed value
$49,689,900
Annual tax
$467,818
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.39M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.50M
@ 6.5% CAP return
$1.39M
@ 7% CAP return
$1.29M
4
Sales comparison
Partial preview
Sales approach indication
$1.95M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
8.6 mi away · 7,296 SF
8.7 mi away · 6,798 SF
13.8 mi away · 6,066 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.06M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 597 sales
$236
-40%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $142/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$49.69M
Move the market yield to see immediate price impact.
Value / SF
$6,679
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$3.13M
$62.61M
$44.72M
$34.78M
$3.48M
$69.57M
$49.69M
$38.65M
$3.83M
$76.52M
$54.66M
$42.51M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$1.25M
8.2 mi · Jan 2026 · $186/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$467,818
Tax year 2024
Assessed value
$49,689,900
Assessed 2024
Previous assessed
$49,689,900
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$2,373,100
Assessed improvement
$47,316,800
Land market value
$2,373,100
Improvement market value
$47,316,800
Total market value
$49,689,900
Applied tax rate
472.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1968
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
26
Stories
3
Units
279
Total area
7,440 SF
Lot
4 ac (174,240 SF)
Zoning code
R10
APN
221281024
UPID
US90-1023834
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R10 · Gig Harbor, WAZoning R10 · permitted uses
R10 · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
26
Units
279
Lot
4 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R10
Jurisdiction
Gig Harbor, WA
Recorded code
R10
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R10 in Gig Harbor, WA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2411th 14th NW Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
