221 Jackson St Sullivan, IN 47885

Building Details

Year built

1915

Architectural style

Other

Listing agent Tracey Symon License ##RB14039503,PersonLicenseNumber Show Phone

Listing office NextHome Real Estate Connections 2924 Wabash Ave., IN Show Phone

Listing date May 21, 2026

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MLS# 109435 Listing URL

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

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Investment Insights

Based on property information with market context.

This duplex in Sullivan, Indiana, presents an opportunity for immediate cash flow, with both units currently occupied by established tenants. Unit 1 is rented for $740 per month, and Unit 2 for $725 per month, generating $17,580 in annual gross income. The current cap rate is 5.46% at the list price of $135,500. The property produces a positive Net Operating Income (NOI) of $617 per month before debt service. The current owner covers water, sewer, and lawn care, reflected in the 58% expense ratio. There is potential to improve returns by adjusting utilities or bringing rents to market rate. The property offers a value-add cap rate potential of 8.63% as leases renew. The property size is 2239 square feet and the lot size is 0.2 acres.

Key Highlights

• Immediate cash flow with both units occupied by established tenants.
• Generates $17,580 in annual gross income.
• Current cap rate of 5.46% at the list price of $135,500.

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FAQs

What type of property is this?

Duplex - Duplex with tenants, generating $17,580 annual income.

Where is this duplex located?

The property is located at 221 Jackson St Sullivan, IN.

What is the asking price?

The asking price for this property is $135,500.

What are key features of this property?

This property features: Immediate cash flow with both units occupied by established tenants.; Generates $17,580 in annual gross income.; Current cap rate of 5.46% at the list price of $135,500.