Two-Unit Brick
For Sale
$188,000
721 S 8th Street, Boonville, IN 47601
INVESTMENT, One Story, Boonville, IN
Property Size1,836 SF
Lot Size0.15 Acres
Price / SF$102.40
Days on Market271
Property Features for 721 S 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1
Lot features
Level
Elementary school
Oakdale
Middle school
Boonville
High school
Boonville
Elementary school district
Warrick County School Corp.
Middle school district
Warrick County School Corp.
High school district
Warrick County School Corp.
Directions
Main St. to 8th St. Directly across from Oakdale School.
Subdivision
Warrick County
Standard status
Active
APN
87-09-35-209-041.000-003
Size
1,836 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 46 HUDSPETH ADD
Legal Description
LOT 46 HUDSPETH ADD
Utilities
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Architectural style
Other
Listing Agency:
SELL4FREE-WELSH REALTY CORPORATION
(812) 634-6969
Listed By:
Opal Sermersheim · License #RB14035424
(812) 582-0776
Added: Jan 9
Changed: Oct 6
Last Checked: Oct 7 at 11:06AM
MLS# 202601071
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.
Built in 1983, this 1,836-square-foot duplex contains two residences, each with two bedrooms and one bathroom. The building has a brick exterior, vinyl flooring, and central air. One unit has a new HVAC system, and both residences are currently rented.
The 0.15-acre property is across from Oakdale Elementary School and includes off-street parking.
The 0.15-acre property is across from Oakdale Elementary School and includes off-street parking.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,836 square feet on a 0.15‑acre lot
- All‑brick exterior with vinyl flooring and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,380
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,600
$187.6K
Cap Rate 7%
$134,000
$134.0K
Cap Rate 9%
$104,222
$104.2K
Market Conditions
NOI Build-Up for 1,836 SF
Gross rent
$18.1K $9.84/SF
− Vacancy
−$1.0K −$0.55/SF
EGI
$17.1K $9.29/SF
− OpEx
−$7.7K −$4.18/SF
NOI
$9.4K $5.11/SF
Area
Warrick County, IN
Vacancy
5.60%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,600
Cap Rate 7%
$134,000
Cap Rate 9%
$104,222
Alternative Uses
Best Use
Apartment 5plus
$134.0K
$117.3K – $156.3K
NOI $9,380 @ 7.0% cap · market cap 4.99%
Second Best
Multifamily LT 5
$126.0K
$110.2K – $147.0K
NOI $8,817 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$363.3K
$317.9K – $423.8K
NOI $25,429 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 47601, IN
14,088
Population
5,803
Households
2.4
Avg Household Size
43
Median Age
24%
College-Educated
94%
High-School Grad
127.3 sq mi
ZIP Area
111
Density / Sq Mi
$77,411
Median Household Income
$46,517
Median Earnings
$843
Median Rent
$184,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences are rented, and the property sits across from Oakdale Elementary School.
Where is this duplex located?
The property is located at 721 S 8th Street Boonville, IN.
What is the asking price?
The asking price for this property is $188,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,836 square feet on a 0.15‑acre lot; All‑brick exterior with vinyl flooring and central air
