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Property profile & analytics
OFF-MARKET
Estimated value
$1,180,000
Apartment buildings
2500 Kingman Blvd Des Moines, IA 50311-4252
Entity Owned
12-yr Hold
Property ID
US25-0025838
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1919
Construction
FRAME
Total area
14,104 SF
Lot
0.24 ac (10,240 SF)
Zoning code
R-3
APN
030/04929-000-000
UPID
US25-0025838
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.18M
Owner & transaction history
Mp Property Management LLC · 12 yrs held
Mp Property Management LLC
since 2013
7 recorded transactions
Zoning & alternative use
R-3 · 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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$84 / 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
$16,836
Tax year 2020
Assessed value
$753,000
Assessed 2023
Previous assessed
$753,000
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$26,000
Assessed improvement
$727,000
Land market value
$26,000
Improvement market value
$727,000
Total market value
$753,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1919
Construction
FRAME
Heating
YES
Buildings
1
Stories
3
Units
15
Rooms
9
Bathrooms
1
Total area
14,104 SF
Lot
0.24 ac (10,240 SF)
Zoning code
R-3
APN
030/04929-000-000
UPID
US25-0025838
Jurisdiction
POLK
Zoning & alternative use
R-3 · Des Moines, IA
Zoning R-3 · permitted uses
R-3 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1919
Construction
FRAME
Heating
YES
Stories
3
Buildings
1
Units
15
Rooms
9
Bathrooms
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Mp Property Management LLC
Entity
Mailing address
PO BOX 71572, CLIVE, IA 50325-0572
Ownership since
2013
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
Aug 1, 2013
$390,000
Mp Property Management LLC
Ieps Real Estate Co LLC
Warranty Deed
$780,000 · Community Business Lenders Service
Nov 15, 2010
$290,000
Ieps Real Estate Co LLC
Peoples Trust & Svgs Bk
Warranty Deed
—
Dec 14, 2009
—
Peoples Trust & Svgs Bk
Dorris,matthew J & Katherine A
Quit Claim Deed
related
—
Mar 10, 2006
$516,500
Matthew J Dorris
Rocky Investments LLC
Warranty Deed
$413,600 · Peoples Trust & Savings Bank
—
—
Ieps Real Estate Co LLC
—
Deed Of Trust
related
$276,225 · George Cataldo
—
—
Ieps Real Estate Co LLC
—
Deed Of Trust
related
$684,000 · West Bank
—
—
Mp Property Management LLC
—
Loan Modification
related
$1,188,000 · State Svgs
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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