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Property profile & analytics
OFF-MARKET
Estimated value
$4,495,000
Apartment buildings
411 12th Ave 417, Portland, OR 97205-2337
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0464443
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1911
Total area
17,774 SF
Lot
0.11 ac (5,000 SF)
Zoning code
RXD
APN
1N1E33DD 01600
UPID
US71-0464443
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
Current use
Occupant on record · Public records
-
The Juniper Seed (Bike/Boat/Book/etc) Store
-
Maurice Dear & Whitney Gray Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.51M
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$4.50M
Owner & transaction history
Flt Maurice Dear LLC · 3 yrs held
Flt Maurice Dear LLC
since 2022
Last sale
$5.6M
5 recorded transactions
Zoning & alternative use
RXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.1M
+28.8%
Auto repair, garage
$5.4M
+14.8%
Medical building
$5.4M
+13.6%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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
$5,170,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,805,000
6.5%
$3,510,000
7%
$3,260,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,725,000
Current use
RESTAURANT
$6,085,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,425,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$5,370,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$5,335,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$5,135,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,120,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$4.50M
Range $4.05M – $4.94M · ±10% · vs last sale $5.60M (Aug 29 2022)
Last sale anchor
$5.60M
Aug 29 2022
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
$253 / 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
$34,418
Tax year 2023
Assessed value
$1,300,100
Assessed 2023
Previous assessed
$1,262,240
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,338,440
Improvement market value
$6,310,750
Total market value
$7,649,190
Applied tax rate
885.0000
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
1911
Heating
NONE
Stories
4
Total area
17,774 SF
Lot
0.11 ac (5,000 SF)
Zoning code
RXD
APN
1N1E33DD 01600
UPID
US71-0464443
Jurisdiction
MULTNOMAH
Zoning & alternative use
RXD · Portland, OR
Zoning RXD · permitted uses
RXD · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.7M
RESTAURANT
Est. value
$6.1M
AUTO REPAIR, GARAGE
Est. value
$5.4M
MEDICAL BUILDING
Est. value
$5.4M
RETAIL STORES
Est. value
$5.3M
OFFICE BUILDING
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$5.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1911
Heating
NONE
Stories
4
Lot
0.11 ac
Current owner
From public records · entity-resolved
Flt Maurice Dear LLC
Entity
Mailing address
6191 N STATE HWY 161ST STE #100, IRVING, TX 75038-2290
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2022
$5,603,200
Flt Maurice Dear LLC
Dls Holdings LLC
Special Warranty Deed
$3,320,000 · Farmers & Merchants Bank & Trust
Feb 9, 2007
—
Ptshp Gallery
Burnside West LLC
Quit Claim Deed
related
—
Dec 29, 2006
$362,535
Ptshp Gallery
Dls Investment LLC
Grant Deed
—
Jul 17, 1998
—
Dls Investments INC
Schmick,douglas L
Grant Deed
related
—
Feb 1, 1991
$675,000
Douglas L Schmick
Unknown
Grant Deed
—
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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