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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Apartment buildings
325 21st St Mount Vernon, WA 98273-3566
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-3320699
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Total area
5,685 SF
Lot
0.34 ac (14,810 SF)
APN
340420-1-023-0409
UPID
US90-3320699
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
$1.15M
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$984k
Blend (final)
Blend
$950k
Owner & transaction history
325 N 21st LLC · 5 yrs held
325 N 21st LLC
since 2021
Last sale
$907,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+35.0%
Restaurant
$1.2M
+17.9%
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 Mount Vernon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Vernon 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
$1,165,000
ML approach
$1,150,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,015,000
Current use
AUTO REPAIR, GARAGE
$1,370,000
Change: +35% · Conversion: Difficult
RESTAURANT
$1,195,000
Change: +18% · Conversion: Difficult
OFFICE BUILDING
$965,000
Change: -5% · Conversion: Moderate
COMMERCIAL (GENERAL)
$935,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$900,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $907k (Jun 2 2021)
Last sale anchor
$907k
Jun 2 2021
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
$167 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$10,643
Tax year 2023
Assessed value
$1,027,800
Assessed 2022
Previous assessed
$1,027,800
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$473,600
Assessed improvement
$554,200
Land market value
$473,600
Improvement market value
$554,200
Total market value
$1,027,800
Applied tax rate
930.0000
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
1976
Heating
BASEBOARD
Bathrooms
1
Total area
5,685 SF
Lot
0.34 ac (14,810 SF)
APN
340420-1-023-0409
UPID
US90-3320699
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$935,000
RETAIL STORES
Est. value
$900,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1976
Heating
BASEBOARD
Bathrooms
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
325 N 21st LLC
Entity
Mailing address
1500 E COLLEGE WAY STE A, MOUNT VERNON, WA 98273-5637
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2021
—
325 N 21st LLC
Steven Shulman
Quit Claim Deed
related
$1,085,000 · Bank Of The West
May 11, 2018
$907,000
Shulman Family Trust
Hoke,duncan
Warranty Deed
—
Apr 26, 2005
$393,200
Duncan Hoke
Lund,john & Brenda L
Warranty Deed
$290,000 · Timberland Bank
May 14, 1997
$265,000
John Lund
White,timothy B & Fay C
Grant Deed
$340,000 · Seller
—
—
John G Lund
—
Deed Of Trust
related
$110,000 · Individual
—
—
Duncan Hoke
—
Deed Of Trust
related
$342,104 · Heritage Bank
—
—
John Lund
—
Deed Of Trust
related
$15,000 · William E & Kitty L Sperry
—
—
John G Lund
—
Deed Of Trust
related
$238,000 · Frontier 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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