Remodeled Duplex with
New
For Sale
$259,000
2532-2534 6TH Avenue, Council Bluffs, IA 51501
MultiFamily, COUNCIL BLUFFS, IA
Property Size1,400 SF
Price / SF$185
Days on Market2
Property Features for 2532-2534 6TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Refrigerator, Range, Dishwasher, Refrigerator, Range, Dishwasher
Elementary school
Edison
Middle school
Woodrow Wilson
High school
Thomas Jefferson
Directions
GPS
Subdivision
Area 2
Standard status
Active
APN
00003593602647000000
Size
1,400 SF
Taxes and HOA fees
Tax Description
WRIGHTS ADD LOTS 33 & 34 BLOCK 11
Legal Description
WRIGHTS ADD LOTS 33 & 34 BLOCK 11
Utilities
Cooling system
Central Air
Amenities
private entrance
Building Details
Year built
1982
Number of units
2
Roof type
Composition
Listing Agency:
Realty One Group Sterling
(402) 934-0074
Listed By:
Wendy Sirian · License #S74336000
(402) 779-9468
Added: Sep 24
Last Checked: Sep 25 at 4:06PM
MLS# 26-2093
Copyright © 2026 Southwest Iowa Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,400 square feet arranged as two residential units, each with two bedrooms and one bathroom. Both units have individual entrances and a dedicated one-car garage, creating practical separation for occupants. The property has undergone remodeling and includes central air conditioning, refrigerators, ranges, and dishwashers. Built in 1982, the building is topped by a composition roof.
Located at 2532-2534 6TH Avenue in Council Bluffs, the property is configured for residential income use with two similarly arranged units. The separate entries, appliance packages, and garage access provide functional features for day-to-day occupancy while keeping the overall layout straightforward.
Located at 2532-2534 6TH Avenue in Council Bluffs, the property is configured for residential income use with two similarly arranged units. The separate entries, appliance packages, and garage access provide functional features for day-to-day occupancy while keeping the overall layout straightforward.
Key Highlights
- Two‑unit duplex totaling 1,400 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Private entrance provided for both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,433
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$228,660
$228.7K
Cap Rate 7%
$163,329
$163.3K
Cap Rate 9%
$127,033
$127.0K
Market Conditions
NOI Build-Up for 1,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.6K $12.60/SF
− Vacancy
−$1.3K −$0.93/SF
EGI
$16.3K $11.67/SF
− OpEx
−$4.9K −$3.50/SF
NOI
$11.4K $8.17/SF
Area
Pottawattamie County, IA
Vacancy
7.41%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$228,660
Cap Rate 7%
$163,329
Cap Rate 9%
$127,033
Alternative Uses
Best Use
Multifamily LT 5
$163.3K
$142.9K – $190.6K
NOI $11,433 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$149.7K
$131.0K – $174.7K
NOI $10,479 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$267.4K
$234.0K – $311.9K
NOI $18,716 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 51501, IA
34,906
Population
15,217
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
23.9 sq mi
ZIP Area
1,461
Density / Sq Mi
$59,314
Median Household Income
$40,229
Median Earnings
$997
Median Rent
$140,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units offer private access, central air, and separate enclosed parking.
Where is this duplex located?
The property is located at 2532-2534 6TH Avenue Council Bluffs, IA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,400 square feet; Each unit includes 2 bedrooms and 1 bathroom; Private entrance provided for both units
