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Property profile & analytics
OFF-MARKET
Apartment buildings
407 Sandpiper Ct Polk City, IA 50226-2229
Entity Owned
5-yr Hold
Absentee Owner
Property ID
US25-0413103
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2000
Construction
FRAME
Total area
5,760 SF
Lot
0.37 ac (16,137 SF)
Zoning code
C-2
APN
261/00305-250-014
UPID
US25-0413103
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Saylorville Lakeside Owner LLC · 5 yrs held
Saylorville Lakeside Owner LLC
since 2020
7 recorded transactions
Zoning & alternative use
C-2 · Polk City, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C. C-2 Commercial District. The C-2 District is intended and designed to provide for general uses and activities of a retail business, service industry or professional office character that, by nature of their business, provide service and commodities that benefit the community at large. These uses may create land use conflicts with adjacent residential area…
Zone name
Commercial District
General category
COMMERCIAL
Zone area
71.41 ac
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 Polk City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Polk City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2020Property tax & assessments
Tax year 2020
Tax billed
$8,914
Tax year 2020
Assessed value
$563,000
Assessed 2023
Previous assessed
$563,000
+0.0% YoY
Effective rate
1.58%
On assessed value
Assessed land
$50,900
Assessed improvement
$512,100
Land market value
$50,900
Improvement market value
$512,100
Total market value
$563,000
Applied tax rate
7.0000
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
2000
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Units
6
Total area
5,760 SF
Lot
0.37 ac (16,137 SF)
Zoning code
C-2
APN
261/00305-250-014
UPID
US25-0413103
Jurisdiction
POLK
Zoning & alternative use
C-2 · Polk City, IAZoning C-2 · permitted uses
C-2 · Polk City, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C. C-2 Commercial District. The C-2 District is intended and designed to provide for general uses and activities of a retail business, service industry or professional office character that, by nature of their business, provide service and commodities that benefit the community at large. These uses may create land use conflicts with adjacent residential areas, requiring sensitivity in design. This district is most appropriately located along arterial streets or in areas that can be adequately buffered from residential districts.
Zone name
Commercial District
General category
COMMERCIAL
Zone area
71.41 ac
Building & site characteristics
From public records
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Units
6
Lot
0.37 ac
Current owner
From public records · entity-resolved
Saylorville Lakeside Owner LLC
Entity
Mailing address
535 MADISON AVE FL #19, NEW YORK, NY 10022-4264
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2020
$4,400,000
Saylorville Lakeside Owner LLC
Saylorville Lakeside Cooperati
Grant Deed
related
—
Dec 16, 2015
—
Saylorville Lakeside Cooperati
Bbr Oil II LLC
Warranty Deed
related
—
Sep 3, 2013
$415,000
Bbr Oil II LLC
Lakeview Cooperative
Warranty Deed
—
Dec 17, 2012
—
Lakeview Cooperative
Rustan Properties LLC
Warranty Deed
related
—
Apr 13, 2006
—
Rustan Properties LLC
Rustan,orlan & Lori
Quit Claim Deed
related
—
Mar 4, 2004
$420,000
Orlan Rustan
Struthers,william L
Grant Deed
—
—
—
Bbr Oil II LLC
—
Loan Modification
related
$688,332 · Hills 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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