Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    128 W South St Bluffton, IN 46714

    View on Map
    Sponsored
    Pending
    $104,995

    Duplex - Bluffton, IN

    Type:Duplex
    Property size:
    1,851 SF
    Lot size:
    0.18 Acres
    Days on Market:
    12
    Last Refresh:
    Mar 18 at 12:06 pm

    Property Features for 128 W South St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    90-08-04-539-219.000-004
    Parking features
    Other
    Exterior features
    Basement, None
    Size
    1,851 SF
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    2
    Flooring type
    Other
    Building materials
    Other
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Raylene Webb
    Raylene Webb

    eXp Realty, LLC (812) 734-6048

    Listing agent Raylene Webb (812) 734-6048 License #RB17000452

    Listing date Mar 6, 2026

    MLS# 202601777 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Spacious Duplex in Bluffton, IN

    This substantial duplex presents a compelling acquisition for investors and owner-occupants seeking income-generating real estate. The property encompasses approximately 1,851 square feet of well-designed living space distributed across two separate residential units. The building accommodates three bedrooms and two full bathrooms, configured to provide functional living arrangements. Each unit maintains comfortable proportions while maximizing practical use of available space. The dual-unit configuration offers considerable financial flexibility. Purchasers may occupy one residence while leasing the second, or lease both units to generate multiple revenue streams. This arrangement provides diversification of rental income while mitigating vacancy risk. The generous square footage ensures neither unit suffers the spatial compromises often associated with multi-family properties. Residents enjoy accommodations comparable to single-family residences. The property is located in Bluffton, IN, in Wells County, and sits on a lot of approximately 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bluffton
    County
    Wells
    State
    Indiana
    Longitude
    -85.172646
    Latitude
    40.736433

    Nearby Similar for Sale

    • $434,900
      6,000 SF

      Bluffton Commercial Building with Office Space

      Exceptional commercial building featuring office space and rear garage.
      2379 N Main St, Bluffton, IN 46714
      View Details
    • $599,000
      4.00 Acres

      Former Daycare/Preschool with Gym

      Educational facility with gym, classrooms, offices, and playground.
      1621 S 350 E, Bluffton, IN 46714
      View Details
    • Contact for pricing
      59,972 SF

      Bluffton Warehouse and Industrial Space

      59,972 SF warehouse/industrial space in Bluffton, Indiana for lease.
      200 E Spring St, Bluffton, IN 46714
      View Details
    • Contact for pricing
      683 SF

      Scooter's Coffee NNN Investment Opportunity

      Corporate guaranteed NNN lease with zero landlord responsibilities.
      996 N Main St, Bluffton, IN 46714
      View Details
    • $3,400,000
      85,588 SF

      Bluffton Industrial Warehouse

      85,588 SF Warehouse, $3.4M
      130 Harvest Rd, Bluffton, IN 46714
      View Details
    • Contact for pricing
      57,604 SF

      Warehouse Near Hershey Factory

      57,604 SF warehouse utilized for Hershey product distribution.
      120 Harvest Rd, Bluffton, IN 46714
      View Details
    • Contact for pricing
      85,588 SF

      Versatile Industrial Property on Harvest Rd

      85,588 SF industrial building on 10.72 acres for sale.
      130 Harvest Rd, Bluffton, IN 46714
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-generating duplex with two units and ample living space.
    Where is this duplex located?
    The property is located at 128 W South St Bluffton, IN.
    What is the asking price?
    The asking price for this property is $104,995.
    What are key features of this property?
    This property features: - Income-generating duplex with two separate units.; - Approximately 1,851 square feet of living space.; - Three bedrooms and two full bathrooms.
    (260) 715-2765
    Request Owner's contact information
    128 W South St Bluffton, IN 46714
    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.
    128 W South St
    Bluffton, IN 46714
    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
    128 W South St Bluffton, IN 46714
    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

    We can help!
    Listing Contact
    Raylene Webb
    Raylene Webb
    Real Estate License ID: RB17000452
    (260) 715-2765 (812) 734-6048 (260) 222-6970
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!