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    Property profile & analytics

    311 Muller Pkwy Bloomington, IN 47403

    • Residential income homes
    • 2,624 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0954569
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 311 Muller Pkwy

    Property size
    2,624 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a three-unit multifamily property located at 311 S Muller Pkwy, Bloomington, IN 47403. The portfolio comprises three single-family homes totaling 2,624 square feet, situated on a convenient west-side location with easy access to I-69. The property offers a compelling price point of $495,000, translating to $188.64 per square foot and $165,000 per unit. Each unit is currently leased, generating strong rental income. One unit, located at 311 S Muller Pkwy, is a four-bedroom, two-bathroom home with a basement, commanding a monthly rent of $2,850. The remaining two units, situated at 317 and 321 S Muller Pkwy, are each two-bedroom, one-bathroom homes, each leased for $1,350 per month. Ample tenant parking is available, with eight spots provided. This turnkey investment is ideal for those seeking a stable, high-yield rental portfolio in a desirable Bloomington location. The property is a one-story building, offering ease of maintenance and management. This is a net lease investment, providing a straightforward and potentially lucrative opportunity. The property's strong rental income and prime location make it a highly attractive investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.563165912015
    Latitude
    39.164110135733

    Comparable in this City

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      Bloomington Duplex: Investment Opportunity

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    Similar Nearby for Sale

    • $499,000
      2,351 SF

      Bloomington Duplex Near Downtown

      Duplex in downtown Bloomington with easy access to amenities.
      308 S Madison St, Bloomington, IN 47403
      View Details
    • New
      $315,000
      2,290 SF

      Bloomington Duplex: Investment Opportunity

      Fully rented duplex near west side amenities with upside potential.
      1313-1315 S Hickory Grove Ln, Bloomington, IN 47403
      View Details
    • New
      $897,000
      6.32 Acres

      Turnkey Mobile Home Park Investment

      Profitable mobile home park with expansion potential near Highway 37.
      6000 W State Road 45, Bloomington, IN 47403
      View Details
    • $625,000
      1.69 Acres

      Bloomington Fourplex with Development Potential

      Fourplex on 1.69 acres with development opportunities in Bloomington.
      1024 N Country Club Dr, Bloomington, IN 47403
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    • $1,600,000
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      Bloomington Residential Land Development Opportunity

      30.23 acre residential land suitable for multi-family development.
      825 S Kirby Rd, Bloomington, IN 47403
      View Details
    • New
      $315,000
      2,290 SF

      Bloomington Duplex: Investment Opportunity

      Fully rented duplex near west side amenities, great investment potential.
      1319-1321 S Hickory Grove Ln, Bloomington, IN 47403
      View Details

    Similar Nearby for Lease

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      Liberty Drive Commercial Land

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      Class A Office, Multiple Suites Available
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      Bloomington Medical Office Building

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    311 Muller Pkwy
    Bloomington, IN 47403
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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