2023 Duplex with Heated
For Sale
$460,000
1600 4TH Avenue, Council Bluffs, IA 51501
MultiFamily, COUNCIL BLUFFS, IA
Property Size2,112 SF
Price / SF$217.80
Days on Market47
Property Features for 1600 4TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5
Exterior features
Frame
Appliances
Refrigerator, Range, Dishwasher, Washer, Dryer, Refrigerator, Range, Dishwasher, Washer, Dryer
Elementary school
Edison
Middle school
Woodrow Wilson
High school
Thomas Jefferson
Subdivision
Area 2
Standard status
Active
APN
754435213017
Size
2,112 SF
Taxes and HOA fees
Tax Description
BEERS SUB LT 16 BLK 37
Legal Description
BEERS SUB LT 16 BLK 37
Utilities
Cooling system
Central Air
Building Details
Year built
2023
Number of units
2
Roof type
Composition
Listing Agency:
Better Homes and Gardens Real Estate The Good Life Group
(402) 932-5989
Listed By:
Michelle L Osborne · License #S73514000
(605) 480-3165
Added: Sep 11
Changed: Oct 20
Last Checked: Oct 27 at 6:06AM
MLS# 26-2017
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.
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Investment Insights
Based on property information with market context.
Built in 2023, this 2,112-square-foot duplex contains two three-bedroom units with tenants in place. Each residence includes two private entrances, a fenced yard, and a one-car garage. Heated concrete flooring runs throughout both units, complemented by central air and a composition roof. The frame construction and modern systems support a straightforward ownership profile.
The property is located near shopping, restaurants, schools, and parks in Council Bluffs, Iowa. Appliances include refrigerators, ranges, dishwashers, washers, and dryers for each unit.
The property is located near shopping, restaurants, schools, and parks in Council Bluffs, Iowa. Appliances include refrigerators, ranges, dishwashers, washers, and dryers for each unit.
Key Highlights
- Built in 2023 with 2,112 square feet of total building area
- Two 3‑bedroom units with tenants already in place
- Each unit has two private entrances and a fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,248
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,960
$345.0K
Cap Rate 7%
$246,400
$246.4K
Cap Rate 9%
$191,644
$191.6K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$26.6K $12.60/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$24.6K $11.67/SF
− OpEx
−$7.4K −$3.50/SF
NOI
$17.2K $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%
$344,960
Cap Rate 7%
$246,400
Cap Rate 9%
$191,644
Alternative Uses
Best Use
Multifamily LT 5
$246.4K
$215.6K – $287.5K
NOI $17,248 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$225.8K
$197.6K – $263.5K
NOI $15,808 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$403.3K
$352.9K – $470.6K
NOI $28,234 @ 7.0% cap · market cap 6.14%
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
638
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer private entrances, fenced yards, and individual one-car garages.
Where is this duplex located?
The property is located at 1600 4TH Avenue Council Bluffs, IA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Built in 2023 with 2,112 square feet of total building area; Two 3‑bedroom units with tenants already in place; Each unit has two private entrances and a fenced yard
