2818 Meridian E Ave Edgewood, WA 98371-2197
Entity Owned
4-yr Hold
~
Est. High Equity
Estimated value (blended)
$4.70M
Range $4.23M – $5.16M (±10%)
Property ID
US90-0671127
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2021
Total area
3,215 SF
Lot
0.72 ac (31,370 SF)
Zoning code
MUR
APN
420098023
UPID
US90-0671127
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
$4.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.70M
Owner & transaction history
since 2022
Last sale
$6.4M
7 recorded transactions
Zoning & alternative use
MUR · Edgewood, WA
Zoning description
The Mixed Use Residential (MUR) zoning district accommodates a range of medium density residential housing types to meet consumer preferences, changing household sizes and market demands. A mix of land uses is allowed, i…
General category
MIXED_USE
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 27 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
$4.70M
Value range
$4.23M – $5.16M
±10% around blend
Estimated value / SF
$1,460 / SF
Confidence
High
27 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
$4.23M
blend $4.70M
$5.16M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,215 SF
Lot area
0.72 ac
Year built
2021
Stories
2
APN
420098023
Assessed value
$5,868,900
Annual tax
$57,783
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$5.97M
Weighted, 20 comps · high confidence
Evidence
27 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.2 mi away · 3,520 SF
3.2 mi away · 3,840 SF
5.4 mi away · 3,200 SF
5.7 mi away · 3,216 SF
6.1 mi away · 2,560 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.70M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 66 sales
$191
+663%
County 597 sales
$236
+519%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $1,460/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 · 27 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$6.39M
Move the market yield to see immediate price impact.
Value / SF
$1,989
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%
$403k
$8.06M
$5.76M
$4.48M
$448k
$8.95M
$6.39M
$4.97M
$492k
$9.85M
$7.03M
$5.47M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
27 found
High confidence · county-verified
Closest comparable
$995k
3.2 mi · Feb 2026 · $303/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$57,783
Tax year 2024
Assessed value
$5,868,900
Assessed 2024
Previous assessed
$5,868,900
+0.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$1,320,100
Assessed improvement
$4,548,800
Land market value
$1,320,100
Improvement market value
$4,548,800
Total market value
$5,868,900
Applied tax rate
770.0000
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 (5+ UNITS)
Status
Off-Market
Year built
2021
Heating
ELECTRIC
Buildings
4
Stories
2
Units
4
Bathrooms
1
Total area
3,215 SF
Lot
0.72 ac (31,370 SF)
Zoning code
MUR
APN
420098023
UPID
US90-0671127
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUR · Edgewood, WAZoning MUR · permitted uses
MUR · Edgewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Mixed Use Residential (MUR) zoning district accommodates a range of medium density residential housing types to meet consumer preferences, changing household sizes and market demands. A mix of land uses is allowed, i…
General category
MIXED_USE
Building & site characteristics
From public records
Year built
2021
Heating
ELECTRIC
Stories
2
Buildings
4
Units
4
Bathrooms
1
Lot
0.72 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MUR
MIXED_USE
Jurisdiction
Edgewood, WA
Recorded code
MUR
Official district
MUR
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MUR in Edgewood, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
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 2818 Meridian E 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.
