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Property profile & analytics
OFF-MARKET
Estimated value
$1,555,000
Apartment buildings
444 Carpenter SE Rd Lacey, WA 98503-7922
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1624066
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1969
Construction
WOOD FRAME
Total area
10,265 SF
Lot
3.18 ac (138,521 SF)
APN
1181-52-40500
UPID
US90-1624066
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
$1.62M
CAP Approach
CAP
$1.98M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.56M
Owner & transaction history
Serenity Apartment Homes LLC · 4 yrs held
Serenity Apartment Homes LLC
since 2022
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
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 Lacey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lacey 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
$1,035,000
ML approach
$1,620,000
CAP Approach
CAP Return
Estimation
6%
$2,145,000
6.5%
$1,980,000
7%
$1,840,000
Blend value · Realmo final
$1.56M
Range $1.40M – $1.71M · ±10% · vs last sale $1.20M (Feb 23 2022)
Last sale anchor
$1.20M
Feb 23 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
$151 / 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
$138,789
Tax year 2023
Assessed value
$14,603,800
Assessed 2022
Previous assessed
$1,267,200
+1,052.4% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,433,900
Assessed improvement
$13,169,900
Land market value
$1,433,900
Improvement market value
$13,169,900
Total market value
$14,603,800
Applied tax rate
241.0000
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
1969
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Units
1
Bathrooms
1
Total area
10,265 SF
Lot
3.18 ac (138,521 SF)
APN
1181-52-40500
UPID
US90-1624066
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1969
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Units
1
Bathrooms
1
Lot
3.18 ac
Current owner
From public records · entity-resolved
Serenity Apartment Homes LLC
Entity
Free & Clear · 4 yrs held
Mailing address
7843 OLD HWY 99TH SEM5, TUMWATER, WA 98501-5705
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
Feb 23, 2022
—
Serenity Apartment Homes LLC
Serenity Apartment Homes LLC
Intrafamily Transfer
related
—
Jul 13, 2020
$1,200,000
Serenity Apartment Homes LLC
Jonathan C Neel
Warranty Deed
—
Feb 8, 2018
—
County Of Thurston
City Of Lacey
Quit Claim Deed
related
—
Mar 9, 2005
—
C J Neel
Neel,nancy R
Quit Claim Deed
related
—
Jul 2, 1992
$270,000
Shin Il Kim
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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