Two-Unit Duplex with Two
1500 S Harlan Avenue Evansville, IN 47714
For Sale
$150,000
MULTI_FAMILY - Evansville, IN
Property Size1,400 SF
Lot Size0.15 Acres
Price / SF$107.14
Days on Market46
Property Features for 1500 S Harlan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1
Standard status
Active
APN
82-06-33-014-034.012-027
Size
1,400 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
OXFORD PLACE L 1 BL 2
Utilities
Cooling system
Central Air
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Flooring type
Laminate
Architectural style
Other
Listing Agency:
KELLER WILLIAMS CAPITAL REALTY
(812) 422-4096
Listed By:
Erica Berendsen · License #RB21002306
(812) 774-2596
Added: Jun 15
Changed: Jul 30
Last Checked: Jul 30 at 9:06AM
MLS# 202623493
Copyright © 2026 Southwest Indiana 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.
Investment Insights
Based on property information with market context.
This for-sale duplex is configured as two separate 2-bedroom, 1-bath units, providing a straightforward two-tenant layout within a single property. The listed total size is 1,400 square feet, and the lot area is 0.15 acres.
The property is located at 1500 S Harlan Avenue in Evansville, Indiana 47714, in Vanderburgh County. It is positioned on a relatively small residential lot, offering an owner straightforward ownership footprint consistent with a duplex format.
For tenants and buyers, the practical appeal is the flexibility of two independent residences in one asset. An owner-occupant can live in one unit while renting the other, while an investor can pursue a two-unit rental setup. With the property described as ready for its next owner, this duplex can be considered by buyers looking for a compact, income-capable residential income property.
The property is located at 1500 S Harlan Avenue in Evansville, Indiana 47714, in Vanderburgh County. It is positioned on a relatively small residential lot, offering an owner straightforward ownership footprint consistent with a duplex format.
For tenants and buyers, the practical appeal is the flexibility of two independent residences in one asset. An owner-occupant can live in one unit while renting the other, while an investor can pursue a two-unit rental setup. With the property described as ready for its next owner, this duplex can be considered by buyers looking for a compact, income-capable residential income property.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- Built in 1935
- Central air cooling
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.3k | $13.80 |
| − Vacancy | −$1.1k | −$0.76 |
| EGI | $18.3k | $13.04 |
| − OpEx | −$5.5k | −$3.91 |
| NOI | $12.8k | $9.13 |
1,400 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$182.6K
$159.7K – $213.0K
NOI $12,779 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$167.9K
$146.9K – $195.9K
NOI $11,751 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$347.6K
$304.1K – $405.5K
NOI $24,329 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units suited for owner-occupant living or rental use.
Where is this duplex located?
The property is located at 1500 S Harlan Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; Built in 1935; Central air cooling
