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Property profile & analytics
FOR SALE
Apartment buildings
920 Meadow Ln Des Moines, IA 50315
Entity Owned
4-yr Hold
Property ID
US25-0167770
For Sale
1 / 12
$5,900,000
920 Meadow Ln, Des Moines, IA 50315
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
FRAME
Total area
11,656 SF
Lot
1.39 ac (60,331 SF)
Zoning code
R-3
APN
120/05921-001-000
UPID
US25-0167770
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
-
Tru painters Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.79M
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.46M
Blend (final)
Blend
$1.65M
Owner & transaction history
North Valley Apartments LLC · 4 yrs held
North Valley Apartments LLC
since 2021
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
R-3 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+17.0%
Medical building
$1.9M
+13.0%
Restaurant
$1.8M
+4.8%
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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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
$1,895,000
ML approach
$1,785,000
CAP Approach
CAP Return
Estimation
6%
$1,620,000
6.5%
$1,495,000
7%
$1,390,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,715,000
Current use
AUTO REPAIR, GARAGE
$2,005,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$1,940,000
Change: +13% · Conversion: Moderate
RESTAURANT
$1,800,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.65M
Range $1.48M – $1.81M · ±10% · vs last sale $1.62M (Oct 8 2021)
Last sale anchor
$1.62M
Oct 8 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
$141 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$37,228
Tax year 2020
Assessed value
$1,660,000
Assessed 2023
Previous assessed
$1,660,000
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$157,000
Assessed improvement
$1,503,000
Land market value
$157,000
Improvement market value
$1,503,000
Total market value
$1,660,000
Applied tax rate
1.0000
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
For Sale
Year built
1972
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
2
Units
12
Bathrooms
2
Total area
11,656 SF
Lot
1.39 ac (60,331 SF)
Zoning code
R-3
APN
120/05921-001-000
UPID
US25-0167770
Jurisdiction
POLK
Zoning & alternative use
R-3 · Des Moines, IA
Zoning R-3 · permitted uses
R-3 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
RESTAURANT
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
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
1972
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
12
Bathrooms
2
Lot
1.39 ac
Current owner
From public records · entity-resolved
North Valley Apartments LLC
Entity
Mailing address
2769 86TH ST, URBANDALE, IA 50322-4336
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2021
$1,620,000
North Valley Apartments LLC
Tuvela LLC
Warranty Deed
$1,296,000 · Bank Iowa
Sep 14, 2015
—
Jeanette E Webb
Mahoney Russell H
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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