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Shawne Mardis

smardis@movingwithmardis.com +1(502) 649-6720

$275,000

Est. payment - /mo

4 Beds

4 Baths

1,880 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Residential

Listing Status Active

Purchase Type For Sale

Square Footage 1,880 sqft

Price per Sqft $146

MLS Listing ID 2026012589

Bedrooms 4

Full Baths 4

Abv Grd Liv Area 1,880

Year Built 1929

Annual Tax Amount $4,175

Lot Size 4,051 Sqft

Acres 0.093

Property Sub-Type Residential

Property Description

Yes, you can still find a rental property that beats the 1% rule! Fully leased, 4-unit apartment building in Uptown New Albany with numbers that work: $3140 per month in rent income, which is $37,680 a year. A cash-on-cash return like this is hard to find right now. All four units have been updated in some way within the last two years. A floorplan is provided showing the three 1-bedroom units and one studio (combined bedroom and living room). Each unit has its own furnace and separate gas and electric meters. Tenants pay gas and electric. Unit 2 has a washer and dryer. There is off-street parking for 4 cars (rare for an uptown 4-plex), plus a grassy yard for playing and dog walking. With a full-price offer, seller will contribute up to $5,000 towards an interest rate buydown or other buyer closing costs that the lender allows, plus a 1-year home warranty for peace of mind, and will do some repairs that the home inspector noted. Or you can get a discounted price by buying it as-is. A building floor plan, rent roll, tax record, income and expense summary, and a 2026 Certainty Home Inspection report are available, so you can be sure that viewing it in person would be a good use of time. Run the numbers on this one using your favorite investment calculator app - you'll be glad you did. Ask your tax advisor how buying this before the end of the year can potentially save money on taxes. Or, you may be able to buy this with a 5% down payment if you use it as your primary residence.

Location

State IN

County Floyd

Zoning Residential

Direction Near the intersection of Slate Run Road and Ekin Ave, on the corner of Ekin and McDonald Ave

Rooms

Basement Crawl Space

Interior

Interior Features Ceiling Fan(s), Bath in Primary Bedroom

Heating Forced Air

Cooling Window Unit(s), Wall Window Unit(s)

Fireplace No

Appliance Dryer, Oven, Range, Refrigerator, Washer

Laundry Other, Upper Level

Exterior

Exterior Feature Deck, Porch

Parking Features No Garage

Water Access Desc Connected,Public

Roof Type Shingle

Street Surface Paved

Porch Covered, Deck, Porch

Building

Lot Description Corner Lot

Dwelling Type Quadruplex

Foundation Crawlspace

Water Connected, Public

New Construction No

Others

Tax ID 0085500018

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

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Listed by Keller Williams Realty Consultants

Nearby Locations

"I have spent nearly 2 decades becoming an expert in Southern Indiana market trends and influences. Now, I'll put my considerable market background to work for you, helping you to identify the best deals, and price your home accurately to assure a quick sale, while maximizing profit. "

+1(502) 649-6720

smardis@movingwithmardis.com

8610 Chapel Hill Court, Charlestown, Indiana 47130, USA

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2235 Ekin AVE New Albany, IN 47150