Ranch Duplex with Off-Street
For Sale
$229,900
4100 Claremont Avenue, Evansville, IN 47712
INVESTMENT, One Story, Evansville, IN
Property Size2,011 SF
Lot Size0.21 Acres
Price / SF$114.32
Days on Market94
Property Features for 4100 Claremont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Parking
4
Parking features
Off Street
Basement
Block
Lot features
City/ Town/ Suburb, Level
Elementary school
Tekoppel
Middle school
Helfrich
High school
Francis Joseph Reitz
Elementary school district
Evansville-Vanderburgh School Corp.
Middle school district
Evansville-Vanderburgh School Corp.
High school district
Evansville-Vanderburgh School Corp.
Directions
From the Lloyd Expressway, South on Tekoppel, and West on Claremont to property on left.
Subdivision
Vanderburgh County
Standard status
Active
APN
82-05-27-018-159.053-025
Size
2,011 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
EVILLE INDL ADD LOTS 17 18 BL 70
Legal Description
EVILLE INDL ADD LOTS 17 18 BL 70
Utilities
Cooling system
Central Air
Amenities
off-street parking
deck
basement
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Roof type
Asphalt, Metal, Shingle
Architectural style
Ranch
Listing Agency:
KELLER WILLIAMS CAPITAL REALTY · Keller Williams Realty
(812) 422-4096
Listed By:
Jerrod Eagleson · License #RB14009502
(812) 305-2732
Added: May 20
Changed: Aug 19
Last Checked: Aug 21 at 12:06PM
MLS# 202619296
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.
4100 Claremont Avenue is a well-maintained ranch duplex built in 1940, set on a 0.21-acre lot. The property totals 2,011 square feet and includes central air conditioning, carpet and tile flooring, and off-street parking. Each unit has its own private entrance and separate living spaces, helping preserve tenant privacy.
Unit 1 offers three bedrooms and features a large open deck. Unit 2 provides two bedrooms plus a basement for additional storage or functionality. Tenants are described as paying all utilities except water.
Recent improvements are reported throughout the duplex, including updated HVAC systems, flooring, paint, lighting, countertops, and appliances, along with numerous additional repairs and upgrades. Unit 1 also features a newer metal roof, and the overall roof system includes asphalt, shingle, and metal components. The duplex is presented as consistently maintained and ready for immediate occupancy.
Unit 1 offers three bedrooms and features a large open deck. Unit 2 provides two bedrooms plus a basement for additional storage or functionality. Tenants are described as paying all utilities except water.
Recent improvements are reported throughout the duplex, including updated HVAC systems, flooring, paint, lighting, countertops, and appliances, along with numerous additional repairs and upgrades. Unit 1 also features a newer metal roof, and the overall roof system includes asphalt, shingle, and metal components. The duplex is presented as consistently maintained and ready for immediate occupancy.
Key Highlights
- 0.21‑acre duplex totaling 2,011 SF, built in 1940
- Private entrances and separate living spaces for each unit
- Unit 1: three bedrooms plus a large open deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,356
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$367,120
$367.1K
Cap Rate 7%
$262,229
$262.2K
Cap Rate 9%
$203,956
$204.0K
Market Conditions
NOI Build-Up for 2,011 SF
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.
Gross rent
$27.8K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.2K $13.04/SF
− OpEx
−$7.9K −$3.91/SF
NOI
$18.4K $9.13/SF
Area
Evansville, IN
Vacancy
5.51%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$367,120
Cap Rate 7%
$262,229
Cap Rate 9%
$203,956
Alternative Uses
Best Use
Multifamily LT 5
$262.2K
$229.5K – $305.9K
NOI $18,356 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,879 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$499.2K
$436.8K – $582.5K
NOI $34,947 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 47712, IN
24,895
Population
10,795
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
93%
High-School Grad
62.7 sq mi
ZIP Area
397
Density / Sq Mi
$64,285
Median Household Income
$36,018
Median Earnings
$933
Median Rent
$173,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained ranch duplex with off-street parking and private entrances for each unit.
Where is this duplex located?
The property is located at 4100 Claremont Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 0.21‑acre duplex totaling 2,011 SF, built in 1940; Private entrances and separate living spaces for each unit; Unit 1: three bedrooms plus a large open deck
