Duplex with Separate
For Sale
$205,000
2040 Avenue B, Council Bluffs, IA 51501
Both two-bedroom residences have independent electric, gas, and water meters for separate utility tracking.
Property Size1,832 SF
Price / SF$111.90
Days on Market91
Property Features for 2040 Avenue B
General Information
Standard status
Active
Size
1,832 SF
Total Parking Spaces
3
Property subtype
Residential Income / Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity, gas, water
Additional Details
Utilities to Site
Yes
Amenities
Central Air
Forced Air, Natural Gas
Refrigerator, Range, Washer, Dryer
Yes
Building Details
Year Built
1900
Buildings
1
Listing Agency:
NP Dodge Real Estate - Council Bluffs
Listed By:
Jesse Skudler · License #B56448000
(402) 880-6087
Source:
Compass
Added: Aug 4
Changed: Nov 1
Last Checked: Nov 1 at 3:51PM
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 NP Dodge Real Estate - Council Bluffs
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Investment Insights
Based on property information with market context.
This 1,832-square-foot duplex contains two residences, each configured with 2 bedrooms and 1 bathroom. The building dates to 1900 and has central air conditioning and forced-air natural gas heating. A refrigerator, range, washer, and dryer are included.
The property occupies a corner lot and has off-street parking for approximately three vehicles. Electric, gas, and water service are separately metered for the two units.
The property occupies a corner lot and has off-street parking for approximately three vehicles. Electric, gas, and water service are separately metered for the two units.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,832 square feet; built in 1900
- Electric, gas, and water are separately metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,961
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,220
$299.2K
Cap Rate 7%
$213,729
$213.7K
Cap Rate 9%
$166,233
$166.2K
Market Conditions
NOI Build-Up for 1,832 SF
Gross rent
$23.1K $12.60/SF
− Vacancy
−$1.7K −$0.93/SF
EGI
$21.4K $11.67/SF
− OpEx
−$6.4K −$3.50/SF
NOI
$15.0K $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%
$299,220
Cap Rate 7%
$213,729
Cap Rate 9%
$166,233
Alternative Uses
Best Use
Multifamily LT 5
$213.7K
$187.0K – $249.4K
NOI $14,961 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.5K
NOI $13,712 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$349.9K
$306.1K – $408.2K
NOI $24,491 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
654
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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View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both two-bedroom residences have independent electric, gas, and water meters for separate utility tracking.
Where is this duplex located?
The property is located at 2040 Avenue B Council Bluffs, IA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,832 square feet; built in 1900; Electric, gas, and water are separately metered
