Renovated Duplex with Two-Car
148 Glen Avenue, Council Bluffs, IA 51503
For Sale
$229,000
Upper and lower residences offer distinct bedroom and bath layouts, with off-street parking and a wraparound front porch.
Property Size2,146 SF
Price / SF$106.71
Days on Market125
Property Features for 148 Glen Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
Natural Gas
Refrigerator, Range, Dishwasher
Yes
Building Details
Year Built
Listing Agency:
BHHS Ambassador - CB
Listed By:
Jay Kathol · License IA S44104000
(402) 618-2454
Source:
Compass
Added: Jul 8
Changed: Nov 4
Last Checked: Nov 8 at 8:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Ambassador - CB
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Investment Insights
Based on property information with market context.
This renovated duplex contains 2,146 square feet across two residences. The upper unit has one bedroom, a kitchen, a full bathroom and a living room. The lower unit includes three bedrooms, one and a half bathrooms, a living room and a wraparound front porch. Updates include a new kitchen on the main level and new bathrooms. A refrigerator, range and dishwasher are included, and the property has natural gas service.
The property is in a historic neighborhood in Council Bluffs. Off-street parking and a two-car garage provide on-site vehicle accommodation.
The property is in a historic neighborhood in Council Bluffs. Off-street parking and a two-car garage provide on-site vehicle accommodation.
Key Highlights
- 2,146‑square‑foot duplex
- Upper unit includes one bedroom, kitchen, full bath and living room
- Lower unit has three bedrooms, 1.5 baths and a living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,525
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,500
$350.5K
Cap Rate 7%
$250,357
$250.4K
Cap Rate 9%
$194,722
$194.7K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$27.0K $12.60/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$25.0K $11.67/SF
− OpEx
−$7.5K −$3.50/SF
NOI
$17.5K $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 Rate 5%
$350,500
Cap Rate 7%
$250,357
Cap Rate 9%
$194,722
Alternative Uses
Best Use
Multifamily LT 5
$250.4K
$219.1K – $292.1K
NOI $17,525 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$229.5K
$200.8K – $267.7K
NOI $16,062 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$409.8K
$358.6K – $478.2K
NOI $28,689 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,391
Businesses Nearby
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Business Placement
Demographics for 51503, IA
37,330
Population
16,154
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
121.7 sq mi
ZIP Area
307
Density / Sq Mi
$76,064
Median Household Income
$46,986
Median Earnings
$964
Median Rent
$252,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower residences offer distinct bedroom and bath layouts, with off-street parking and a wraparound front porch.
Where is this duplex located?
The property is located at 148 Glen Avenue Council Bluffs, IA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 2,146‑square‑foot duplex; Upper unit includes one bedroom, kitchen, full bath and living room; Lower unit has three bedrooms, 1.5 baths and a living room
