Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3008 Mohawk Dr Burlington, IA 52601-3464

    • Residential income homes
    • 1,904 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0023442
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 3008 Mohawk Dr

    Year built
    1982
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Property size
    1,904 SF
    Zone code
    R4
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    16-17-251-034
    APU
    1617251034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Des Moines
    State
    Iowa
    Longitude
    -91.1102
    Latitude
    40.7757
    CBSA code
    15460
    CBSA name
    BURLINGTON, IA-IL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $3,562
    $25,600
    $199,200
    $224,800
    -
    $25,600
    $199,200
    $224,800

    Comparable in this City

    • Value Estimation
      $520,000
      3,723 SF

      2301 Agency St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,723 SF
      2301 Agency St, Burlington, IA 52601-1967
      View Details
    • Value Estimation by Request
      1,904 SF

      3100 Mohawk Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,904 SF
      3100 Mohawk Dr, Burlington, IA 52601-3466
      View Details
    • Value Estimation by Request
      1,680 SF

      1529 Airlane Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,680 SF
      1529 Airlane Dr, Burlington, IA 52601-3311
      View Details
    • Value Estimation by Request
      1,456 SF

      127 Woodlawn Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,456 SF
      127 Woodlawn Ave, Burlington, IA 52601-4262
      View Details
    • Value Estimation by Request
      1,904 SF

      3012 Mohawk Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,904 SF
      3012 Mohawk Dr, Burlington, IA 52601-3465
      View Details
    • Value Estimation by Request
      1,680 SF

      2212 Piper Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,680 SF
      2212 Piper Pl, Burlington, IA 52601-3320
      View Details

    Similar Nearby for Sale

    • $45,000
      2,656 SF

      Burlington Iowa Multifamily Investment Opportunity

      Fully occupied duplex, part of a package deal.
      605 S Central Ave, Burlington, IA 52601
      View Details
    • New
      $249,900
      2,584 SF

      Updated Fourplex in Burlington, Iowa

      Well-maintained fourplex with updated apartments near downtown Burlington.
      1108 Jefferson St, Burlington, IA 52601
      View Details
    • $39,500
      2,352 SF

      Burlington Duplex with Rental Permit

      Duplex with separate utilities and rental permit.
      235 S 9Th St, Burlington, IA 52601
      View Details
    • $47,500
      1,809 SF

      Burlington Duplex with Rental Income

      Two-unit property with rental potential in Burlington, Iowa.
      1127 Washington St, Burlington, IA 52601
      View Details
    • $85,000
      2,220 SF

      Income-Producing Duplex in Burlington, Iowa

      Fully occupied duplex with flexible rental options and convenient location.
      218 S Gunnison St, Burlington, IA 52601
      View Details
    • Contact for pricing
      3,102 SF

      Burlington Duplex Package For Sale

      Duplex to be sold as a package with other properties.
      518 S Central Ave, Burlington, IA 52601
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      78,640 SF

      Burlington Retail Center Opportunity

      High-traffic retail space available.
      313 Roosevelt Ave, Burlington, IA 52601
      View Details
    • Contact for pricing
      11,800 SF

      Agency Commons: Burlington Retail Space

      Prime Burlington retail space, 11,800 sq ft available.
      3314 Agency St, Burlington, IA 52601
      View Details
    • $750 /Mo
      3,485 SF

      Main Street Retail/Office Space

      Bright commercial space on Main Street, ideal for retail/office.
      2007 S Main St, Burlington, IA 52601
      View Details
    • $14 SF/Yr
      50,328 SF

      2750 Mount Pleasant St

      Neighborhood centers • 50,328 SF
      2750 Mount Pleasant St, Burlington, IA 52601
      View Details
    • $16 SF/Yr
      41,886 SF

      Downtown Burlington Creative Office Space

      Modern Office/Retail, 3,114 SF Available
      424 3Rd St, Burlington, IA 52601
      View Details
    • $10 SF/Yr
      2,016 SF

      Downtown Burlington Office Space

      Prime Main Street office, newly remodeled.
      610 Main St, Burlington, IA 52601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3008 Mohawk Dr
    Burlington, IA 52601-3464
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!