2020 Duplex with Separate Utility
811 N 9TH Street, Council Bluffs, IA 51503
For Sale
New
$349,000
MultiFamily, COUNCIL BLUFFS, IA
Property Size1,692 SF
Price / SF$206.26
Days on Market3
Property Features for 811 N 9TH Street
General Information
Property type
Property subtype
Exterior features
Appliances
Elementary school
Middle school
High school
Subdivision
Standard status
APN
Size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Amenities
off-street parking
storage sheds
Building Details
Year built
Number of units
Roof type
Buildings
Listing Agency:
Better Homes and Gardens Real Estate The Good Life Group
(402) 932-5989
Listed By:
Michelle Hiers · License IA B56908000
(402) 651-1896
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 12 at 7:06AM
MLS# 26-2471
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.
Constructed in 2020, this 1,692-square-foot duplex contains two one-level residences, both currently rented. Each unit has plank flooring, an all-electric setup, and a refrigerator, range, microwave, washer, and dryer. Separate electric and water meters serve the units. The building also features a commercial-grade insulated foundation and a 10-inch sound-reducing wall between residences.
The property occupies a corner lot and includes off-street parking and storage sheds. Frame construction, forced-air heating, central air conditioning, and a composition roof complete the building features.
The property occupies a corner lot and includes off-street parking and storage sheds. Frame construction, forced-air heating, central air conditioning, and a composition roof complete the building features.
Key Highlights
- Built in 2020 with 1,692 square feet
- Both units are currently rented
- Each residence has separate electric and water meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,818
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,360
$276.4K
Cap Rate 7%
$197,400
$197.4K
Cap Rate 9%
$153,533
$153.5K
Market Conditions
NOI Build-Up for 1,692 SF
Gross rent
$21.3K $12.60/SF
− Vacancy
−$1.6K −$0.93/SF
EGI
$19.7K $11.67/SF
− OpEx
−$5.9K −$3.50/SF
NOI
$13.8K $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%
$276,360
Cap Rate 7%
$197,400
Cap Rate 9%
$153,533
Alternative Uses
Best Use
Multifamily LT 5
$197.4K
$172.7K – $230.3K
NOI $13,818 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$180.9K
$158.3K – $211.1K
NOI $12,664 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$323.1K
$282.8K – $377.0K
NOI $22,620 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
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 - Both residences are leased and include appliances, individual utility meters, and off-street parking.
Where is this duplex located?
The property is located at 811 N 9TH Street Council Bluffs, IA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Built in 2020 with 1,692 square feet; Both units are currently rented; Each residence has separate electric and water meters
