Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,475,000
Apartment buildings
2609 Neals Ln Vancouver, WA 98661-5192
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0749912
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Total area
34,104 SF
Lot
2 ac (87,120 SF)
Zoning code
R-18 : VAN
APN
030496-000
UPID
US90-0749912
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
$9.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.48M
Owner & transaction history
Nee Neals And Park LLC · 4 yrs held
Nee Neals And Park LLC
since 2021
Last sale
$12.2M
6 recorded transactions
Zoning & alternative use
R-18 : VAN · Vancouver, WA
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 Vancouver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vancouver 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
$11,755,000
ML approach
$9,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.48M
Range $10.33M – $12.62M · ±10% · vs last sale $12.20M (Dec 22 2021)
Last sale anchor
$12.20M
Dec 22 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
$336 / 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
$54,193
Tax year 2023
Assessed value
$5,807,600
Assessed 2023
Previous assessed
$5,279,600
+10.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$766,656
Assessed improvement
$5,040,944
Land market value
$766,656
Improvement market value
$5,040,944
Total market value
$5,807,600
Applied tax rate
10,000.0000
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
1968
Heating
BASEBOARD
Buildings
14
Stories
2
Total area
34,104 SF
Lot
2 ac (87,120 SF)
Zoning code
R-18 : VAN
APN
030496-000
UPID
US90-0749912
Jurisdiction
CLARK
Zoning & alternative use
R-18 : VAN · Vancouver, WA
Zoning R-18 : VAN · permitted uses
R-18 : VAN · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vancouver. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Heating
BASEBOARD
Stories
2
Buildings
14
Lot
2 ac
Current owner
From public records · entity-resolved
Nee Neals And Park LLC
Entity
Mailing address
3519 NE 15TH AVE STE #543, PORTLAND, OR 97212-2356
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Feb 1, 2022
—
Nee Neals And Park LLC
—
Deed
related
$10,690,000 · East West Bank
Dec 22, 2021
$12,200,000
Nee Neals And Park LLC
Better Apt At Neals Lane Townhomes
Special Warranty Deed
—
Sep 21, 2005
$3,850,000
Better Apartments At Neals Lane Tow
Larry A Martin
Warranty Deed
$2,306,000 · Green Park Financial LP
Oct 31, 2001
—
C & J Allen Family LP
—
Deed Of Trust
related
$1,113,750 · Washington Mutual Fsb
Dec 10, 1998
$1,160,000
Larry Martin
Grimm,joseph D & Carolyn M
Grant Deed
$960,000 · Seller
—
—
Thomas J Bryson
—
Deed Of Trust
related
$10,000 · Providence Health System FCU
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
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 2609 Neals Ln?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
