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    Property profile & analytics

    543 Mill St Council Bluffs, IA 51503

    • Apartment buildings
    • 1,286 SF
    • 0.12 lot acres
    For Sale
    View listing
    $490,000
    Value Estimations
    Cap Rate Potential
    3.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US25-0015847
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 543 Mill St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.12 lot acres
    Property size
    1,286 SF
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    7544 25 383 005
    APU
    754425383005

    Description

    This exceptional Class A, stabilized multifamily investment property located at 543 Mill St, Council Bluffs, IA 51503, presents a compelling opportunity. The property, a two-story building, comprises six units, each boasting a recently renovated interior. The complete renovation in 2024 included brand new electrical, plumbing, and HVAC systems, ensuring minimal maintenance and long-term cost efficiency. The 100% occupancy rate speaks to the desirability of the units, which are designed to appeal to discerning tenants. A new water line has been installed, eliminating potential future infrastructure concerns. The property also features coin-operated laundry facilities, adding convenience for residents and generating additional income. Situated in a prime downtown location, this investment aligns perfectly with Council Bluffs' ongoing growth and development. The asking price is $490,000, representing a price per unit of $81,666.67. This represents a strong value proposition for investors seeking a hassle-free, high-return investment in a thriving Iowa market. The property's modern amenities and strategic location promise consistent rental income and significant equity potential. This is a turnkey opportunity not to be missed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $160,000
      6.5%
      $150,000
      7%
      $140,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $212,000
      Market price range: $111k - $221k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Council Bluffs
    County
    Pottawattamie
    State
    Iowa
    Longitude
    -95.8508
    Latitude
    41.2636
    CBSA code
    36540
    CBSA name
    OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,804
    $15,400
    $120,200
    $135,600
    -
    $15,400
    $120,200
    $135,600

    Comparable in this City

    • Value Estimation
      $280,000
      2,368 SF

      227 Blf St

      APARTMENT HOUSE (5+ UNITS) • 2,368 SF
      227 Blf St, Council Bluffs, IA 51503-6562
      View Details
    • Value Estimation
      $275,000
      2,268 SF

      600 Huntington Ave

      APARTMENT HOUSE (5+ UNITS) • 2,268 SF
      600 Huntington Ave, Council Bluffs, IA 51503-6679
      View Details
    • Value Estimation
      $225,000
      1,592 SF

      103 Park Ave

      APARTMENT HOUSE (5+ UNITS) • 1,592 SF
      103 Park Ave, Council Bluffs, IA 51503-4391
      View Details
    • Value Estimation by Request
      2,832 SF

      733 Mynster St

      APARTMENT HOUSE (5+ UNITS) • 2,832 SF
      733 Mynster St, Council Bluffs, IA 51503-0656
      View Details
    • Value Estimation
      $185,000
      1,497 SF

      1030 Broadway

      APARTMENT HOUSE (5+ UNITS) • 1,497 SF
      1030 Broadway, Council Bluffs, IA 51503-1522
      View Details
    • Value Estimation
      $210,000
      986 SF

      319 1st St

      APARTMENT HOUSE (5+ UNITS) • 986 SF
      319 1st St, Council Bluffs, IA 51503-3155
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,612 SF

      Council Bluffs Multifamily Investment

      11-Unit Value-Add Apartment Building
      209 4Th St, Council Bluffs, IA 51503
      View Details
    • $2,950,000
      63,097 SF

      Linden Place Apartments: Council Bluffs, IA

      36-Unit Senior Living Community, $2.95M
      25 Linden Ave, Council Bluffs, IA 51503
      View Details
    • $490,000

      Council Bluffs 6-Plex Investment

      Prime 6-unit apartment building, fully renovated.
      543 Mill St, Council Bluffs, IA 51503
      View Details
    • $285,000
      3,976 SF

      Mixed-Use Property in Council Bluffs

      Commercial space with two apartments, fully rented investment opportunity.
      519 S Main St, Council Bluffs, IA 51503
      View Details
    • $150,000
      2,018 SF

      Council Bluffs Multifamily Property

      Multifamily property featuring a partially renovated unit and rental income.
      220 Harrison St, Council Bluffs, IA 51503
      View Details
    • $425,000
      19.00 Acres

      16090 Crystal Lane

      Land • 19.00 Acres
      16090 Crystal Ln, Council Bluffs, IA 51503
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      810,000 SF

      Council Bluffs Warehouse Space Available

      Modern Class A warehouse space for lease in Council Bluffs, IA.
      80 Kanesville Blvd & Hunt Ave, Council Bluffs, IA 51503
      View Details
    • $9 SF/Yr
      73,200 SF

      Prime Council Bluffs Office Space

      Downtown Office Suites Available Now
      310 Kanesville Blvd, Council Bluffs, IA 51503
      View Details
    • $150 SF/Yr
      428 SF

      Council Bluffs Office Space Available

      Prime Downtown Office Suites, Flexible Lease Terms
      421 Broadway, Council Bluffs, IA 51503
      View Details
    • $14 SF/Yr
      10,000 SF

      Retail/Office Space with Drive-Thru

      Lease opportunity: retail/office space with potential drive-thru.
      928 Vly Vw Dr Suite, Council Bluffs, IA 51503
      View Details
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    543 Mill St
    Council Bluffs, IA 51503
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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
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