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Property profile & analytics
OFF-MARKET
Estimated value
$2,875,000
Apartment buildings
921 Pleasant St Des Moines, IA 50309-3210
Individually Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0231582
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Construction
CONCRETE
Total area
49,841 SF
Lot
0.73 ac (31,647 SF)
Zoning code
C-3R
APN
030/03570-001-000
UPID
US25-0231582
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
-
Hawthorn Hill Apartments Apartment Building
-
Hii Commercial Mortgage Loans Des Moines IA Loan Service Bank
-
Methodist Deaconess Institute—Esther Hall Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.83M
Blend (final)
Blend
$2.88M
Owner & transaction history
Hills Chestnut · 21 yrs held
Hills Chestnut
since 2005
4 recorded transactions
Zoning & alternative use
C-3R · Des Moines, IA
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±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
$58 / 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
$36,852
Tax year 2020
Assessed value
$609,400
Assessed 2023
Previous assessed
$609,400
+0.0% YoY
Effective rate
6.05%
On assessed value
Assessed land
$100
Assessed improvement
$609,300
Land market value
$100
Improvement market value
$609,300
Total market value
$609,400
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
Off-Market
Year built
2007
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
8
Units
43
Rooms
13
Bathrooms
2
Total area
49,841 SF
Lot
0.73 ac (31,647 SF)
Zoning code
C-3R
APN
030/03570-001-000
UPID
US25-0231582
Jurisdiction
POLK
Zoning & alternative use
C-3R · Des Moines, IA
Zoning C-3R · permitted uses
C-3R · 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.
Building & site characteristics
From public records
Year built
2007
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
8
Buildings
1
Units
43
Rooms
13
Bathrooms
2
Lot
0.73 ac
Current owner
From public records · entity-resolved
Hills Chestnut
Individual
Mailing address
1600 UNIVERSITY AVE W STE #212, SAINT PAUL, MN 55104-3825
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
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
Jan 31, 2007
—
Hills Chestnut
—
Trustees Deed
related
$2,600,000 · Bank Of The West
Apr 26, 2005
—
Hills Chestnut
Great Western Bank
Quit Claim Deed
related
$395,000 · Great Western Bank
—
—
Hills Chestnut
—
Deed Of Trust
related
$860,000 · Sunamerica Hsng Fund 614
—
—
Hills Chestnut
—
Deed Of Trust
related
$775,000 · Protective Life Insurance Co
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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