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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Apartment buildings
5607 Graham Ave Sumner, WA 98390-3212
Individually Owned
1-yr Hold
Property ID
US90-2972672
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
FRAME
Total area
3,312 SF
Lot
0.28 ac (12,350 SF)
Zoning code
MDR
APN
2669000050
UPID
US90-2972672
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
$985k
CAP Approach
CAP
$615k
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$985k
Owner & transaction history
James Mccormick JR · 1 yrs held
James Mccormick JR
since 2024
Last sale
$985,000
7 recorded transactions
Zoning & alternative use
MDR · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+44.1%
Neighborhood: shopping center
$1.4M
+43.4%
Auto repair, garage
$1.2M
+23.6%
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
$985,000
ML approach
$985,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$615,000
7%
$575,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$985,000
Current use
COMMERCIAL (GENERAL)
$1,420,000
Change: +44% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,410,000
Change: +43% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,215,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$1,015,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$990,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$910,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±10% · vs last sale $985k (Sep 6 2024)
Last sale anchor
$985k
Sep 6 2024
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
$297 / 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
$8,123
Tax year 2024
Assessed value
$785,600
Assessed 2024
Previous assessed
$785,600
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$251,800
Assessed improvement
$533,800
Land market value
$251,800
Improvement market value
$533,800
Total market value
$785,600
Applied tax rate
117.0000
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
1985
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Total area
3,312 SF
Lot
0.28 ac (12,350 SF)
Zoning code
MDR
APN
2669000050
UPID
US90-2972672
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MDR · Sumner, WA
Zoning MDR · permitted uses
MDR · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$990,000
MEDICAL BUILDING
Est. value
$910,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1985
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
4
Bathrooms
4
Lot
0.28 ac
Current owner
From public records · entity-resolved
James Mccormick JR
Individual
Mailing address
13008 BINGHAM AVE E, TACOMA, WA 98446-4222
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2024
$985,000
James Mccormick JR
Hale Summit Properties LLC
Warranty Deed
$738,750 · Key Bank NA
Sep 8, 2020
—
Hale Summit Properties LLC
Lane R Hale
Quit Claim Deed
related
—
Mar 28, 2019
—
Tamara L Hale
—
Deed
related
$220,000 · United Wholesale Mtg
May 18, 2005
$365,000
Lane R Hale
Parks,john P & Teri
Warranty Deed
$292,000 · Homestone Mortgage INC
—
—
Tamara L Hale
—
Deed Of Trust
related
$220,000 · United Wholesale Mtg
—
—
Lane R Hale
—
Deed Of Trust
related
$337,500 · Homestone Mortgage INC
—
—
Teri Parks
—
Deed Of Trust
related
$185,500 · Sib Mortgage Corp
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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