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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Apartment buildings
717 Franklin St 1, Port Townsend, WA 98368-5838
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1864516
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1891
Construction
FRAME
Total area
2,266 SF
Lot
0.06 ac (2,614 SF)
Zoning code
R-II(SF)
APN
989709003
UPID
US90-1864516
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
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Mark Seymour · 5 yrs held
Mark Seymour
since 2021
Last sale
$586,500
4 recorded transactions
Zoning & alternative use
R-II(SF) · Port Townsend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$540,000
+290.1%
Retail stores
$365,000
+165.3%
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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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
$610,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$540,000
Change: +290% · Conversion: Moderate
RETAIL STORES
$365,000
Change: +165% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $587k (Jan 7 2021)
Last sale anchor
$587k
Jan 7 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
$260 / 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
$6,095
Tax year 2023
Assessed value
$679,114
Assessed 2023
Previous assessed
$674,114
+0.7% YoY
Effective rate
0.90%
On assessed value
Assessed land
$243,000
Assessed improvement
$436,114
Land market value
$243,000
Improvement market value
$436,114
Total market value
$679,114
Applied tax rate
110.0000
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
1891
Construction
FRAME
Heating
OTHER
Stories
2
Bathrooms
4
Total area
2,266 SF
Lot
0.06 ac (2,614 SF)
Zoning code
R-II(SF)
APN
989709003
UPID
US90-1864516
Jurisdiction
JEFFERSON
Zoning & alternative use
R-II(SF) · Port Townsend, WA
Zoning R-II(SF) · permitted uses
R-II(SF) · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Townsend. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$540,000
RETAIL STORES
Est. value
$365,000
MEDICAL BUILDING
RETAIL STORES
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
1891
Construction
FRAME
Heating
OTHER
Stories
2
Bathrooms
4
Lot
0.06 ac
Current owner
From public records · entity-resolved
Mark Seymour
Individual
Free & Clear · 5 yrs held
Mailing address
221 N ALBERT ST, PORT ANGELES, WA 98362-3307
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2021
—
Mark Seymour
Frances V Wafer
Re-recorded Document
related
—
Jan 7, 2021
$586,500
Mark Seymour
Frances V Wafer
Warranty Deed
$265,000 · Caliber Home Loans INC
Feb 25, 2005
—
Wafer,frances V Trust
Wafer William E Trust
Quit Claim Deed
related
—
Nov 3, 2004
$438,000
Wafer,william E & Frances V Trust
Cisneros,mauricio L & Maria G
Warranty Deed
related
$183,217 · Bank Of America
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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