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Property profile & analytics
OFF-MARKET
Estimated value
$7,500,000
Apartment buildings
2625 Vine St West Des Moines, IA 50265-3286
Entity Owned
5-yr Hold
Free & Clear
Property ID
US25-2566217
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1994
Construction
FRAME
Total area
12,882 SF
Lot
7.03 ac (306,009 SF)
Zoning code
RH
APN
320/01720-006-003
UPID
US25-2566217
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
-
Fairmeadows Village 55+ Community Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.50M
Owner & transaction history
Fairmeadows Community LLC · 5 yrs held
Fairmeadows Community LLC
since 2020
Last sale
$7.9M
3 recorded transactions
Zoning & alternative use
RH · West 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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$6,505,000
ML approach
$7,710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.50M
Range $6.75M – $8.25M · ±10% · vs last sale $7.89M (Dec 8 2020)
Last sale anchor
$7.89M
Dec 8 2020
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
$582 / 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
$158,182
Tax year 2020
Assessed value
$9,290,000
Assessed 2023
Previous assessed
$9,290,000
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$927,000
Assessed improvement
$8,363,000
Land market value
$927,000
Improvement market value
$8,363,000
Total market value
$9,290,000
Applied tax rate
20.0000
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
1994
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
1
Units
16
Total area
12,882 SF
Lot
7.03 ac (306,009 SF)
Zoning code
RH
APN
320/01720-006-003
UPID
US25-2566217
Jurisdiction
POLK
Zoning & alternative use
RH · West Des Moines, IA
Zoning RH · permitted uses
RH · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1994
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
16
Lot
7.03 ac
Current owner
From public records · entity-resolved
Fairmeadows Community LLC
Entity
Free & Clear · 5 yrs held
Mailing address
124 N 9TH ST, FORT DODGE, IA 50501-3911
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2020
$7,892,500
Fairmeadows Community LLC
Kesterson Investment Corp
Warranty Deed
—
May 3, 2005
$4,999,500
Kesterson Investment Corp
Fairmeadows Village Ptshp
Warranty Deed
—
—
—
Kesterson Investment Corp
—
Deed Of Trust
related
$3,250,000 · Csbank
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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