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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Apartment buildings
390 Wales Dr Folsom, CA 95630-2965
Entity Owned
12-yr Hold
Absentee Owner
Property ID
US09-2987176
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD
Total area
4,401 SF
Lot
0.23 ac (10,110 SF)
Zoning code
R-3
APN
071-0310-007-0000
UPID
US09-2987176
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
$540k
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$782k
Blend (final)
Blend
$740k
Owner & transaction history
Norcal Real Properties Service · 12 yrs held
Norcal Real Properties Service
since 2014
6 recorded transactions
Zoning & alternative use
R-3 · Folsom, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is for standard single family detached dwelling units, small family day care homes, large family day care homes and boarding and lodging houses
Zone name
Neighborhood Apartment District
General category
RESIDENTIAL
Zone area
15.34 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 Folsom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Folsom 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
$540,000
CAP Approach
CAP Return
Estimation
6%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,145,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,135,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,030,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$168 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,238
Tax year 2024
Assessed value
$480,721
Assessed 2024
Previous assessed
$480,721
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$72,103
Assessed improvement
$408,618
Applied tax rate
4.0000
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
1963
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Units
15
Total area
4,401 SF
Lot
0.23 ac (10,110 SF)
Zoning code
R-3
APN
071-0310-007-0000
UPID
US09-2987176
Jurisdiction
SACRAMENTO
Zoning & alternative use
R-3 · Folsom, CAZoning R-3 · permitted uses
R-3 · Folsom, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is for standard single family detached dwelling units, small family day care homes, large family day care homes and boarding and lodging houses
Zone name
Neighborhood Apartment District
General category
RESIDENTIAL
Zone area
15.34 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1963
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Units
15
Lot
0.23 ac
Current owner
From public records · entity-resolved
Norcal Real Properties Service
Entity
Mailing address
3941 PARK DR #375, EL DORADO HILLS, CA 95762-4549
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Nov 17, 2021
—
Norcal Real Properties Services INC
—
Deed
related
$1,650,000 · Central Valley Community Bank
Feb 20, 2019
—
Norcal Real Prop Svcs INC
—
Grant Deed
related
$1,300,000 · Paul Norton
May 9, 2014
$1,200,000
Norcal Real Properties Service
Workman J M 1978 Trust
Grant Deed
—
Oct 24, 2012
—
Workman John M 1978 Trust
Workman,mary E
Quit Claim Deed
related
—
May 30, 2012
—
Mary E Workman
Workman,john M
Affidavit Of Death
related
—
Nov 9, 2001
—
Jcp Investments LP
Patriarca Trust
Quit Claim Deed
related
—
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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