Triplex with Multiple Garages and Vacant
For Sale
$340,000
1024 W Country Club Drive, Bloomington, IN 47403
MULTI_FAMILY - Other - Bloomington, IN
Property Size3,552 SF
Lot Size0.77 Acres
Price / SF$95.72
Days on Market51
Property Features for 1024 W Country Club Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 7
Parking
10
Parking features
Garage, Off Street
Fireplace
1
Basement
Block
Subdivision
Broadview
Lot features
City/ Town/ Suburb, Level, Slope, 0-2.9999
Elementary school
Summit
Middle school
Batchelor
High school
Bloomington South
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
South on Rogers to Country Club, West towards Rockport
Standard status
Active
APN
53-08-08-403-249.000-009
Size
3,552 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
4051
Tax Description
015-00905-00 Broadview Park 1st S1/2 L201 and 015-00895-00 BROADVIEW PARK PT LOT 201 PLAT 201B ANNEXED 3-1-03 FROM 014-00890-00
Tax Annual Amount
1250
Legal Description
015-00905-00 Broadview Park 1st S1/2 L201 and 015-00895-00 BROADVIEW PARK PT LOT 201 PLAT 201B ANNEXED 3-1-03 FROM 014-00890-00
Utilities
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
1
Number of units
3
Flooring type
Laminate, Carpet, Mixed
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty Professionals · RE/MAX International
(812) 650-3600
Listed By:
Brandy Holdeman · License #RB14044117
(812) 325-7685
Added: Jun 22
Changed: Aug 2
Last Checked: Aug 11 at 11:06PM
MLS# 202624554
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.
Investment Insights
Based on property information with market context.
This triplex features three fully rented units and includes multiple garages and additional outbuildings. The property has central air and a shingle roof, with mixed interior finishes including laminate and carpet. The main configuration includes a 2-bedroom, 1-bath home with a carport, a separately leased 2-bedroom, 1-bath upstairs apartment that was recently remodeled with new paint and flooring and an updated dishwasher, and a 4-bedroom, 2-bath home with a long-term tenant on a month-to-month lease. The layout also provides flexibility to convert the larger unit into a duplex by adding a second kitchen, based on the current configuration.
A fireplace is present, and parking is available with garage and off-street options. Additional improvements include a large 4-car garage shared between tenants, a small storage shed, and a large 1-car garage or shed with loft area. The property also includes a separately deeded vacant lot. The home was built in 1960 and is offered as-is.
The total lot is listed at 0.77 acres, with 3,552 SF of property size.
A fireplace is present, and parking is available with garage and off-street options. Additional improvements include a large 4-car garage shared between tenants, a small storage shed, and a large 1-car garage or shed with loft area. The property also includes a separately deeded vacant lot. The home was built in 1960 and is offered as-is.
The total lot is listed at 0.77 acres, with 3,552 SF of property size.
Key Highlights
- Three fully rented units plus a separately deeded vacant lot
- 0.77‑acre total lot and 3,552 SF triplex
- Central air and shingle roof
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
$28,991
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
8.53%
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%
$579,820
$579.8K
Cap Rate 7%
$414,157
$414.2K
Cap Rate 9%
$322,122
$322.1K
Market Conditions
NOI Build-Up for 3,552 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
$55.8K $15.72/SF
− Vacancy
−$3.1K −$0.88/SF
EGI
$52.7K $14.84/SF
− OpEx
−$23.7K −$6.68/SF
NOI
$29.0K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$579,820
Cap Rate 7%
$414,157
Cap Rate 9%
$322,122
Alternative Uses
Best Use
Multifamily LT 5
$456.0K
$399.0K – $532.0K
NOI $31,922 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$414.2K
$362.4K – $483.2K
NOI $28,991 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$694.2K
$607.4K – $809.9K
NOI $48,593 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three fully rented units, central air, fireplace, and multiple garages plus a separately deeded vacant lot.
Where is this triplex located?
The property is located at 1024 W Country Club Drive Bloomington, IN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Three fully rented units plus a separately deeded vacant lot; 0.77‑acre total lot and 3,552 SF triplex; Central air and shingle roof
