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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Apartment buildings
5230 Boulder Dr West Des Moines, IA 50265-2805
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2577602
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Construction
FRAME
Total area
5,962 SF
Lot
1.14 ac (49,746 SF)
Zoning code
PUD MD
APN
320/03977-101-007
UPID
US25-2577602
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
$710k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
Farsons LLC · 12 yrs held
Farsons LLC
since 2013
7 recorded transactions
Zoning & alternative use
PUD MD · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$925,000
+2.6%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Des Moines 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%
$770,000
6.5%
$710,000
7%
$660,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$905,000
Current use
AUTO REPAIR, GARAGE
$925,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$900,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$100 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$31,688
Tax year 2020
Assessed value
$1,430,000
Assessed 2023
Previous assessed
$1,430,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed land
$201,000
Assessed improvement
$1,229,000
Land market value
$201,000
Improvement market value
$1,229,000
Total market value
$1,430,000
Applied tax rate
20.0000
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
1990
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
2
Units
6
Total area
5,962 SF
Lot
1.14 ac (49,746 SF)
Zoning code
PUD MD
APN
320/03977-101-007
UPID
US25-2577602
Jurisdiction
POLK
Zoning & alternative use
PUD MD · West Des Moines, IA
Zoning PUD MD · permitted uses
PUD MD · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$925,000
MEDICAL BUILDING
Est. value
$900,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1990
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
6
Lot
1.14 ac
Current owner
From public records · entity-resolved
Farsons LLC
Entity
Mailing address
2930 BELL AVE, DES MOINES, IA 50321-1421
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2013
$7,350,000
Farsons LLC
Amfp I Meadow Chase LLC
Grant Deed
$5,825,000 · Everbank
Jul 15, 2009
$1,369
Tic Meadow Chase Apartments Ll
For 1031 Meadow Chase Apartmen
Grant Deed
related
—
Oct 8, 2007
$200,000
Rothschild-meadow Chase Apartm
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$112,000
Ventura-meadow Chase Apartment
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$350,000
Tapia-meadow Chase Apartments
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$324,314
Schwaegel-meadow Chase Apartme
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$311,000
Posner-meadow Chase Apartments
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$182,000
M Ventura-meadow Chase Apartme
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 20, 2007
$200,000
Adami-meadow Chase Apartments
For 1031 Meadow Chase Apartmen
Grant Deed
—
Sep 13, 2007
$5,350,000
For 1031 Meadow Chase Apartmen
Meadow Chase Cedar LLC
Grant Deed
related
$3,745,000 · Artesia Mortgage Capital Corp
Aug 1, 2005
$3,700,000
Alcurt Des Moines LLC
West Des Moines Hsng Assocs
Grant Deed
$8,000,000 · Wachovia Bank NA
—
—
Amfp I Meadow Chase LLC
—
Deed Of Trust
related
$1,000,000 · Holliday Fenoglio Fowler LP
—
—
Farsons LLC
—
Deed Of Trust
related
$5,350,000 · Miscellaneous Ins Co
—
—
A Lindley-meadow Chase Apart
—
Deed Of Trust
related
$3,745,000 · Dexia Real Estate Cap Markets
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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