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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Apartment buildings
2600 Kingman Blvd Des Moines, IA 50311-4161
Entity Owned
2-yr Hold
Property ID
US25-0023262
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Construction
FRAME
Total area
22,828 SF
Lot
0.52 ac (22,440 SF)
Zoning code
R-3
APN
030/04969-000-000
UPID
US25-0023262
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
$1.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.14M
Owner & transaction history
Marlena Holdings LLC · 2 yrs held
Marlena Holdings LLC
since 2024
Last sale
$1.1M
5 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
Method
Estimation
Statistic approach
$1,135,000
ML approach
$1,135,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10% · vs last sale $1.13M (May 3 2024)
Last sale anchor
$1.13M
May 3 2024
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
$50 / 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
$20,158
Tax year 2020
Assessed value
$902,000
Assessed 2023
Previous assessed
$902,000
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$59,300
Assessed improvement
$842,700
Land market value
$59,300
Improvement market value
$842,700
Total market value
$902,000
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
1989
Construction
FRAME
Heating
YES
Buildings
1
Stories
4
Units
19
Rooms
9
Bathrooms
2
Total area
22,828 SF
Lot
0.52 ac (22,440 SF)
Zoning code
R-3
APN
030/04969-000-000
UPID
US25-0023262
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
1989
Construction
FRAME
Heating
YES
Stories
4
Buildings
1
Units
19
Rooms
9
Bathrooms
2
Lot
0.52 ac
Current owner
From public records · entity-resolved
Marlena Holdings LLC
Entity
Mailing address
1003 PENNSYLVANIA AVE, DES MOINES, IA 50316-2824
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2024
$1,133,000
Marlena Holdings LLC
Mp Property Management LLC
Warranty Deed
$906,400 · Raccoon Valley Bank
Mar 1, 2013
$560,000
Mp Property Management LLC
Dm Summerplace Apartments LLC
Warranty Deed
$448,000 · State Savings Bank
Sep 10, 2010
—
Dm Summerplace Apartments LLC
Kilkenny,scott
Quit Claim Deed
related
—
Jan 28, 2005
$430,000
Tredstone LLC
Doidge,lee & Diane
Warranty Deed
$190,059 · 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.
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