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    1024 N Country Club Dr Bloomington, IN 47403

    View on Map
    Sponsored
    For Sale
    $550,000

    Fourplex - Bloomington, IN

    Property size:
    4,750 SF
    Lot size:
    1.69 Acres
    Days on Market:
    14
    Last Refresh:
    Mar 29 at 4:06 am

    Property Features for 1024 N Country Club Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
    Bedrooms
    8
    Bathrooms
    4
    APN
    53-08-08-403-001.000-009
    Parking features
    Carport, Garage, Garage - Attached, Off Street, Paved or Surfaced
    EntryLevel
    Main,Upper
    Exterior features
    Basement, Ceiling Fan, None, 2nd Detached Garage
    Basement Y/N
    1
    Appliances
    Dishwasher, Garbage Disposer, Range, Washer
    Size
    4,750 SF
    Lot size
    1.69 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    4
    Flooring type
    Carpet, Laminate, Tile, Wood
    Roof type
    Metal, Rubber, Shingle
    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Brandy Holdeman
    Brandy Holdeman

    RE/MAX REALTY PROFESSIONALS (BLOOMINGTON)

    Listing agent Brandy Holdeman License #RB14044117

    Listing date Mar 16, 2026

    MLS# 202542721 Listing URL

    Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Bloomington Fourplex with Development Potential

    This property features 1.69 acres with a total of 4 rental units and 4 separate deeds. Deed one includes a 1-bedroom, 1-bath home located at 1016 Country Club, leased for $895 per month until July 22, 2026. This home has an unfinished basement and sits on 0.42 acres. Deed two is a 0.5-acre vacant lot zoned R2. Deed three is a 0.33-acre vacant lot, also zoned R2. Deed four comprises the balance of the property with 0.44 acres and 3 rental units. There is a 2-bedroom, 1-bath unit at 1022A Country Club with a carport, leased for $950 per month until July 22, 2026. Additionally, there is a 2-bedroom, 1-bath upstairs apartment leased for $1250 per month until July 24, 2026, which was recently remodeled with new paint and flooring and an updated dishwasher. Below this apartment is a large 4-car garage shared between this tenant and the tenant in the home. There is also a 4-bedroom, 1-bath home with a long-term tenant on a month-to-month lease, currently rented for $910.52 per month. In addition, there is a small storage shed and a large 1-car garage/shed with a loft area. The property, with a total size of 4750 square feet, is being sold as-is and is located in Bloomington, Indiana. It is suitable as an investment property or for demolition and new construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.54675565
    Latitude
    39.13683435

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    FAQs

    What type of property is this?
    Quadplex - Fourplex on 1.69 acres with development opportunities in Bloomington.
    Where is this quadplex located?
    The property is located at 1024 N Country Club Dr Bloomington, IN.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: - 1.69 acres with 4 rental units and 4 separate deeds, offering diverse investment opportunities.; - Includes two vacant lots zoned R2, providing potential for further development.; - Existing rental income from multiple units with leases in place until July 2026.
    (812) 323-1231
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    1024 N Country Club Dr Bloomington, IN 47403
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    Bloomington, IN 47403
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1024 N Country Club Dr Bloomington, IN 47403
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    Listing Contact
    Brandy Holdeman
    Brandy Holdeman
    Real Estate License ID: RB14044117
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