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Property profile & analytics
OFF-MARKET
Estimated value
$1,290,000
Apartment buildings
550 Franklin Ave 578, Bend, OR 97703-2897
Individually Owned
7-yr Hold
Property ID
US71-0799400
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2006
Total area
2,360 SF
APN
171232 DB 60502
UPID
US71-0799400
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
-
Kelly Johnson - Go Bend Homes, Real Estate Real Estate Agency
-
Bend Premier Real Estate: William Raven Real Estate Agency
-
Atanacio Rico & Associates, INC. American Family Insurance Insurance Agency
-
Lumbermens Insurance & Risk Solutions Insurance Agency
-
Peter Jones Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.29M
Owner & transaction history
Phillip Simmons · 7 yrs held
Phillip Simmons
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$955,000
+5.9%
Auto repair, garage
$900,000
+0.2%
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 Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bend 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$900,000
Current use
RETAIL STORES
$955,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$900,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$820,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$1.29M
Range $1.16M – $1.42M · ±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
$547 / 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
$13,287
Tax year 2023
Assessed value
$831,150
Assessed 2023
Previous assessed
$783,450
+6.1% YoY
Effective rate
1.60%
On assessed value
Improvement market value
$1,583,070
Total market value
$1,583,070
Applied tax rate
1,061.0000
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
2006
Heating
NONE
Total area
2,360 SF
APN
171232 DB 60502
UPID
US71-0799400
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$900,000
RETAIL STORES
Est. value
$955,000
AUTO REPAIR, GARAGE
Est. value
$900,000
COMMERCIAL (GENERAL)
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
2006
Heating
NONE
Current owner
From public records · entity-resolved
Phillip Simmons
Individual
Mailing address
550 NW FRANKLIN AVE UNIT #578, BEND, OR 97703-2897
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2018
$1,200,000
Phillip Simmons
Reiche,john P & Catherine R
Warranty Deed
$840,000 · Prime Lndg
Oct 29, 2012
—
John P Reiche
Catherine R Reiche
Intrafamily Transfer
related
$277,000 · Bank Of The Cascades
Dec 29, 2006
$1,267,991
Reiche Catherine R Trust
Keystone Partners LLC
Warranty Deed
$800,000 · Washington Federal Savings
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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