Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Victorian Triplex Renovation Opportunity Title is generated by Realmo AI

    114 S Jackson Street, Greencastle, IN 46135

    View on Map
    Claim this Listing
    For Sale
    $174,900

    Triplex, Victorian - Greencastle, IN

    Type:Triplex
    Lot size:
    0.13 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    54
    Last Refresh:
    May 18 at 3:06 am

    Property Features for 114 S Jackson Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Exterior features
    Fencing
    Fencing
    Fenced
    Standard status
    Active
    APN
    670921203012000008
    Lot size
    0.13 Acres

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Wood Siding
    Roof type
    Shingle
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Fred McIntire

    Listing agent Fred McIntire License #RB14022537

    Listing office Keller Williams Indy Metro S Kingston St Ste 100, Avon, IN

    Listing date Mar 26, 2026

    MLS# 22092085 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Significant upside potential with completion of renovation and ability to customize finishes to maximize ARV.
    • Major renovation work (HVAC, Electrical, Plumbing) already completed, providing a head start on the project.
    • Includes brand‑new appliance package for each unit (ready for installation).
    • Value‑add opportunity to build equity through project completion and increased rental income.
    • Classic Victorian triplex with strong architectural appeal and wood siding.
    • Built in 1900, offering unique character and charm in the rental market.

    Overview

    This Victorian triplex presents a value-add opportunity for investors. Major renovation work has been started, including HVAC, electrical, and plumbing. The property is ready for completion, offering the opportunity to customize finishes and maximize after-repair value. Each unit includes a new appliance package ready for installation. The property has strong architectural appeal. This stalled project is suited for a buyer looking to step into a partially completed renovation. The property is located in Greencastle, IN. The lot size is 0.13 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greencastle
    County
    Putnam
    State
    Indiana
    Longitude
    -86.865662
    Latitude
    39.642698

    Nearby Similar for Sale

    • $299,900
      9,981 SF

      Established Business in Greencastle, Indiana

      Newly renovated business with restaurant and bar areas for sale.
      727 S Main Street, Greencastle, IN 46135
      View Details
    • $275,000

      Equestrian Farm with Deer Creek

      10.5 acre farm with barns and equestrian facilities.
      1158 W US HWY 40 Highway, Greencastle, IN 46135
      View Details
    • $585,000
      4,330 SF

      Versatile Commercial/Residential Property, Greencastle

      Commercial building, shop, and remodeled residential house on large lot.
      1220 N Jackson Street, Greencastle, IN 46135
      View Details

    FAQs

    What type of property is this?
    Triplex - Partially renovated Victorian triplex with value-add potential in Greencastle.
    Where is this triplex located?
    The property is located at 114 S Jackson Street Greencastle, IN.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: Significant upside potential with completion of renovation and ability to customize finishes to maximize ARV.; Major renovation work (HVAC, Electrical, Plumbing) already completed, providing a head start on the project.; Includes brand‑new appliance package for each unit (ready for installation).
    (317) 271-5959
    We can help!
    Listing Contact
    Fred McIntire
    Real Estate License ID: RB14022537
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    114 S Jackson Street, Greencastle, IN 46135
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!