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Property profile & analytics
OFF-MARKET
Estimated value
$8,425,000
Apartment buildings
351 Gln Crk NW Rd 19, Salem, OR 97304-3063
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US71-0657649
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1989
Total area
81,758 SF
Lot
3.49 ac (152,024 SF)
Zoning code
RM2
APN
07322-C0-00403
UPID
US71-0657649
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
$5.66M
Blend (final)
Blend
$8.43M
Owner & transaction history
Glen Creek Park Apartments LLC · 21 yrs held
Glen Creek Park Apartments LLC
since 2004
6 recorded transactions
Zoning & alternative use
RM2 · Salem, OR
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,715,000
Current use
Blend value · Realmo final
$8.43M
Range $7.58M – $9.27M · ±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
$103 / 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
$110,502
Tax year 2023
Assessed value
$5,863,090
Assessed 2023
Previous assessed
$5,692,330
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$877,620
Assessed improvement
$4,985,470
Land market value
$1,026,180
Improvement market value
$8,813,770
Total market value
$9,839,950
Applied tax rate
3,225.0000
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
1989
Heating
NONE
Buildings
87
Total area
81,758 SF
Lot
3.49 ac (152,024 SF)
Zoning code
RM2
APN
07322-C0-00403
UPID
US71-0657649
Jurisdiction
POLK
Zoning & alternative use
RM2 · Salem, OR
Zoning RM2 · permitted uses
RM2 · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.7M
APARTMENT HOUSE (5+ UNITS) Current
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
1989
Heating
NONE
Buildings
87
Lot
3.49 ac
Current owner
From public records · entity-resolved
Glen Creek Park Apartments LLC
Entity
Mailing address
4155 DUANE DR S, SALEM, OR 97302-6127
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2018
—
Glen Creek Park Apartments LLC
—
Deed
related
$2,900,000 · Jpmorgan Chase Bk NA
Aug 12, 2004
—
Glen Creek Park Apartments LLC
Mack Trust
Grant Deed
related
—
Jan 29, 2004
—
Mack,tr
Rodriguez,wilberth D & Rosa
Grant Deed
related
$3,000,000 · Abn Amro Mortgage Group INC
Jan 18, 1991
$2,862,000
Garry Mogster
Unknown
Grant Deed
—
—
—
Glen Creek Park Apartments LLC
—
Deed Of Trust
related
$3,000,000 · M & T Realty Capital Corp
—
—
Glen Creek Park Apartments LLC
—
Deed Of Trust
related
$2,900,000 · Jpmorgan Chase Bk NA
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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