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Property profile & analytics
OFF-MARKET
Estimated value
$3,595,000
Hotels
651 Stewart St Carson City, NV 89701-4023
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-1144705
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1977
Total area
19,446 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DT-MU
APN
004-254-06
UPID
US62-1144705
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
-
Oils R US 101 Industrial Manufacturer Production Facility
-
Freedom Flats Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.60M
Owner & transaction history
Freedom Flats LLC · 4 yrs held
Freedom Flats LLC
since 2021
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
DT-MU · Carson City, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.4M
+119.7%
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 Carson City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carson City 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
$4,010,000
ML approach
$3,975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,350,000
Change: +120% · Conversion: Difficult
Blend value · Realmo final
$3.60M
Range $3.24M – $3.95M · ±10% · vs last sale $3.20M (Dec 30 2021)
Last sale anchor
$3.20M
Dec 30 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
$185 / 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
$15,961
Tax year 2024
Assessed value
$447,044
Assessed 2024
Previous assessed
$425,629
+5.0% YoY
Effective rate
3.57%
On assessed value
Assessed land
$169,932
Assessed improvement
$277,112
Land market value
$485,520
Improvement market value
$791,748
Total market value
$1,277,268
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1977
Heating
HEAT PUMP
Stories
2
Units
1
Bathrooms
2
Total area
19,446 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DT-MU
APN
004-254-06
UPID
US62-1144705
Jurisdiction
CARSON CITY
Zoning & alternative use
DT-MU · Carson City, NV
Zoning DT-MU · permitted uses
DT-MU · Carson City, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carson City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
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
1977
Heating
HEAT PUMP
Stories
2
Units
1
Bathrooms
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
Freedom Flats LLC
Entity
Mailing address
595 HUMBOLDT ST STE #200, RENO, NV 89509-1674
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2022
—
Freedom Flats LLC
—
Deed
related
$32,175,000 · Tri Counties Bank
Dec 30, 2021
$3,200,000
Freedom Flats LLC
Sjr Management Series LLC
Bargain And Sale Deed
$1,920,000 · Tri Counties Bank
Aug 8, 2019
—
Sjr Management Series LLC
—
Grant Deed
related
$4,305,000 · American River Bk
Jul 10, 2019
$5,450,000
Sjr Management Series LLC
Care Free Hospitality LLC
Grant Deed
$350,000 · Care Free Hospitality LLC
Oct 24, 2018
—
Care Free Hospitality LLC
—
Deed
related
$300,000 · Lantzman Mgmt INC
Mar 25, 2009
—
Care Free Hospitality LLC
Care Free Hospitality LLC
Quit Claim Deed
$1,531,000 · Nevada State Development Corp
Mar 6, 2009
—
Care Free Hospitality LLC
—
Deed Of Trust
related
$1,495,632 · Nevada Security Bank
Oct 29, 2008
—
Care Free Hospitality LLC
Eierman,conrad R & Vera F
Grant Deed
—
Oct 21, 2008
—
Silver State Hospitality LLC
Cuneo Family Trust
Quit Claim Deed
related
—
Oct 21, 2008
$555,951
Conrad R Eierman
Allied Foreclosure Services
Trustees Deed
—
Nov 21, 2006
$1,340,625
Cuneo Family Trust
Eierman,conrad R & Vera F
Grant Deed
$3,650,000 · Nevada Security Bank
Apr 30, 2004
$4,450,000
Cuneo,tr
Harford,tr
Grant Deed
$1,600,000 · Harford Trust
Feb 20, 2004
—
Harford Trust
Harford,ronald W & Dora D
Quit Claim Deed
related
—
Feb 3, 2000
$1,450,000
Ronald W Harford
Newman Trust
Grant Deed
$250,000 · Seller
Oct 28, 1998
—
Patricia M Newman
Newman Trist
Quit Claim Deed
related
$962,500 · Sacramento Commercial Bank
—
—
Care Free Hospitality LLC
—
Deed Of Trust
related
$300,000 · Lantzman Mgmt INC
—
—
Newman Trust
—
Deed Of Trust
related
$200,000 · Individual
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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