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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Apartment buildings
2901 Rutland Ave Des Moines, IA 50311-3969
Entity Owned
16-yr Hold
Property ID
US25-2573487
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1962
Construction
FRAME
Total area
10,476 SF
Lot
0.47 ac (20,400 SF)
Zoning code
R-3
APN
090/03732-000-000
UPID
US25-2573487
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
$895k
Owner & transaction history
Living Des Moines LLC · 16 yrs held
Living Des Moines LLC
since 2009
3 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
$85 / 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
$12,544
Tax year 2020
Assessed value
$561,000
Assessed 2023
Previous assessed
$561,000
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$53,900
Assessed improvement
$507,100
Land market value
$53,900
Improvement market value
$507,100
Total market value
$561,000
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
1962
Construction
FRAME
Heating
CENTRAL
Buildings
1
Stories
2
Units
11
Rooms
8
Bathrooms
2
Total area
10,476 SF
Lot
0.47 ac (20,400 SF)
Zoning code
R-3
APN
090/03732-000-000
UPID
US25-2573487
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
1962
Construction
FRAME
Heating
CENTRAL
Stories
2
Buildings
1
Units
11
Rooms
8
Bathrooms
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Living Des Moines LLC
Entity
Mailing address
2932 RUTLAND AVE, DES MOINES, IA 50311-3917
Ownership since
2009
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
Oct 19, 2009
$282,500
Living Des Moines LLC
Bell,kelly A & Lisa
Warranty Deed
$226,000 · Metabank
May 13, 2005
$285,000
Kelly A Bell
Robins Nest Apartments LLC
Warranty Deed
$204,350 · Liberty Federal Savings Bank
—
—
Living Des Moines LLC
—
Deed Of Trust
related
$251,250 · West Bank
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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