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Property profile & analytics
OFF-MARKET
Estimated value
$2,395,000
Apartment buildings
811 Main St 10, Independence, OR 97351-2500
Trust Owned
~
Est. High Equity
Property ID
US71-0425297
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1962
Total area
30,156 SF
Lot
1.69 ac (73,616 SF)
Zoning code
RH
APN
08421-DB-00200
UPID
US71-0425297
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
-
Greystone Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.32M
Blend (final)
Blend
$2.40M
Owner & transaction history
Langan Family Trust
Langan Family Trust
since 2026
7 recorded transactions
Zoning & alternative use
RH · Independence, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence 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
RETAIL STORES
$3,985,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.40M
Range $2.16M – $2.63M · ±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
$79 / 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
$24,952
Tax year 2023
Assessed value
$1,304,130
Assessed 2023
Previous assessed
$1,266,150
+3.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$151,920
Assessed improvement
$1,152,210
Land market value
$496,620
Improvement market value
$2,271,510
Total market value
$2,768,130
Applied tax rate
1,344.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1962
Heating
NONE
Buildings
35
Total area
30,156 SF
Lot
1.69 ac (73,616 SF)
Zoning code
RH
APN
08421-DB-00200
UPID
US71-0425297
Jurisdiction
POLK
Zoning & alternative use
RH · Independence, OR
Zoning RH · permitted uses
RH · Independence, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Independence. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$4.0M
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
1962
Heating
NONE
Buildings
35
Lot
1.69 ac
Current owner
From public records · entity-resolved
Langan Family Trust
Trust
Mailing address
3930 SE GLENWOOD ST, PORTLAND, OR 97202-7768
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
—
Langan Family Trust
Greystone Langan LLC
Special Warranty Deed
—
Dec 1, 2025
—
Langan Family Trust
Greystone Langan LLC
Special Warranty Deed
—
Jul 28, 2023
—
Greystone Langan LLC
Scooby Properties LLC
Warranty Deed
$870,000 · Community Bank
Jan 24, 2019
$595,000
Scooby Properties LLC
Brown,ricky A
Warranty Deed
—
Dec 14, 2015
—
Scooby Properties LLC
Langan,lee R
Grant Deed
—
Jul 15, 2011
$1,327,000
Lee R Langan
Greystone Apartments LLC
Warranty Deed
$928,900 · Washington Federal Savings
Jul 15, 1996
$270,000
Robert S Zegar
Kvamme,kevan J & Polly J
Grant Deed
—
—
—
Greystone Apartments LLC
—
Deed Of Trust
related
$715,000 · Fairway America LLC
—
—
Linda J Lewis
—
Deed Of Trust
related
$53,998 · Polk Community Dev 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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