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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Residential income homes
540 Whispering Ln, Hastings, MN 55033-1503
Entity Owned
4-yr Hold
Property ID
US46-0182175
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1984
Construction
WOOD FRAME
Total area
5,200 SF
Lot
0.46 ac (20,038 SF)
Zoning code
R
APN
19-66601-01-010
UPID
US46-0182175
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
$1.36M
CAP Approach
CAP
$1.17M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.34M
Owner & transaction history
Ddl Rental Properties LLC · 4 yrs held
Ddl Rental Properties LLC
since 2021
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
R · Hastings, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.0M
+132.4%
Restaurant
$1.0M
+127.4%
Auto repair, garage
$890,000
+100.1%
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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
$1,305,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
$1,265,000
6.5%
$1,170,000
7%
$1,085,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,030,000
Change: +132% · Conversion: Difficult
RESTAURANT
$1,010,000
Change: +127% · Conversion: Difficult
AUTO REPAIR, GARAGE
$890,000
Change: +100% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±10% · vs last sale $1.35M (Oct 15 2021)
Last sale anchor
$1.35M
Oct 15 2021
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
$258 / 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
$7,164
Tax year 2024
Assessed value
$515,000
Assessed 2023
Previous assessed
$469,800
+9.6% YoY
Effective rate
1.39%
On assessed value
Assessed land
$68,200
Assessed improvement
$446,800
Land market value
$68,200
Improvement market value
$446,800
Total market value
$515,000
Applied tax rate
19.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1984
Construction
WOOD FRAME
Heating
NONE
Units
4
Bathrooms
4
Total area
5,200 SF
Lot
0.46 ac (20,038 SF)
Zoning code
R
APN
19-66601-01-010
UPID
US46-0182175
Jurisdiction
DAKOTA
Zoning & alternative use
R · Hastings, MN
Zoning R · permitted uses
R · Hastings, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hastings. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
RESTAURANT
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$890,000
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
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
1984
Construction
WOOD FRAME
Heating
NONE
Units
4
Bathrooms
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
Ddl Rental Properties LLC
Entity
Mailing address
221 2ND ST E, HASTINGS, MN 55033-1205
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2021
$1,350,000
Ddl Rental Properties LLC
Fmgb Properties LLC
Warranty Deed
$1,080,000 · Merchants Bank NA
Jun 23, 2008
$315,090
Fmgb Properties LLC
Tcm Properties LLC
Warranty Deed
$236,500 · Lake Elmo Bank
May 12, 2008
$229,070
Tcm Properties LLC
Deputy Sheriff Of Dakota County
Grant Deed
—
Mar 20, 2008
$227,500
Mortgage Electronic Registrati
Deputy Sheriff Of Dakota County
Trustees Deed
—
Sep 14, 2005
$500
Whispering Lane Apartments LLC
Hayft,mark T & Kara M
Quit Claim Deed
related
—
Mar 11, 2004
$440,100
Dean M Dinndorf
Simones,marty L
Warranty Deed
$330,050 · National City Mortgage Co
—
—
Fmgb Properties LLC
—
Loan Modification
related
—
—
—
Dean M Dinndorf
—
Deed Of Trust
related
$65,000 · National City Bank
—
—
Fmgb Properties LLC
—
Deed Of Trust
related
—
—
—
Fmgb Proerties LLC
—
Loan Modification
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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