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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Apartment buildings
2917 Madison Ave Burlington, IA 52601-3427
Individually Owned
14-yr Hold
Absentee Owner
Property ID
US25-0312219
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1966
Total area
5,760 SF
Lot
5.25 ac (228,690 SF)
Zoning code
R4
APN
16-17-251-042
UPID
US25-0312219
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
$745k
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$770k
Owner & transaction history
Madison Avenue Cooperative · 14 yrs held
Madison Avenue Cooperative
since 2011
4 recorded transactions
Zoning & alternative use
R4 · Burlington, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended to allow for medium and high density neighborhoods by providing varying area requirements
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
701.44 ac
Source
Realmo
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$570,000
Current use
COMMERCIAL (GENERAL)
$530,000
Change: -7% · Conversion: Moderate
RESTAURANT
$480,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±10%
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
$134 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$61,984
Tax year 2021
Assessed value
$3,553,600
Assessed 2023
Previous assessed
$3,553,600
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$262,500
Assessed improvement
$3,291,100
Land market value
$262,500
Improvement market value
$3,291,100
Total market value
$3,553,600
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
1966
Heating
NONE
Buildings
4
Stories
2
Units
12
Rooms
72
Total area
5,760 SF
Lot
5.25 ac (228,690 SF)
Zoning code
R4
APN
16-17-251-042
UPID
US25-0312219
Jurisdiction
DES MOINES
Zoning & alternative use
R4 · Burlington, IAZoning R4 · permitted uses
R4 · Burlington, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is intended to allow for medium and high density neighborhoods by providing varying area requirements
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
701.44 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$530,000
RESTAURANT
Est. value
$480,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Stories
2
Buildings
4
Units
12
Rooms
72
Lot
5.25 ac
Current owner
From public records · entity-resolved
Madison Avenue Cooperative
Individual
Mailing address
1330 LOCUST ST, DUBUQUE, IA 52001-4711
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2012
—
Madison Avenue Cooperative
—
Deed Of Trust
related
$4,175,000 · Cedar Rapids Bank & Trust Co
Dec 14, 2011
—
Madison Avenue Cooperative
Riverbank Holding Co LLC
Warranty Deed
—
Jul 2, 2008
$1,850,000
Riverbank Holding Co LLC
Park Madison
Deed Of Trust
related
$1,480,000 · Farmers & Merchants Bk & Tr
—
—
Bigfoot Co-op A INC
—
Deed Of Trust
related
$2,325,000 · Dubuque Bk&tr
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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