803 & 805 REASON Avenue Loogootee, IN 47553

Building Details

Year built 1991

Number of units 2

Flooring type Carpet, Vinyl, Tile

Roof type Metal, Asphalt

Listing Agency: F.C. TUCKER EMGE K***@fctuckeremge.com Show Phone

Listed By: Barb Hays · License #RB20000195 Show Phone

Added: Nov 13, 2025 Changed: Jul 6 Last Checked: Jul 28 at 3:06PM

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MLS# 202546179

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 residential income property includes two active rentals on two city lots: a 3-bedroom, 1-bath mobile home measuring 12 x 70 (840 SF) and a 2-bedroom, 1-bath pole barn house measuring 40 x 26 (1,040 SF). The vacant lot on the second city parcel is set up for expansion, with electric, water, and sewer already present, offering a straightforward path to adding a third rental unit.

The property is located at 803 & 805 REASON Avenue in Loogootee, Indiana (Martin County). The current rentals are on 1-year leases that expire on November 1, 2026. The surrounding area includes nearby community amenities such as a city park, a swimming pool, and pickleball courts.

For investors or owner-operators looking for immediate rental income, the asset provides two existing, income-producing units while retaining flexibility through the additional lot utilities. The current lease terms through November 1, 2026 also help define near-term occupancy timing while the third-unit concept can be evaluated for future development.

Key Highlights

• Two city lots with multiple rental income streams, including two active rentals and space to add a third unit
• Current rental: 3 bed, 1 bath mobile home rental (12 x 70 = 840 SF) with an active 1‑year lease expiring 1 Nov 2026
• Current rental: 2 bed, 1 bath pole barn house rental (40 x 26 = 1,040 SF) with an active 1‑year lease expiring 1 Nov 2026

Property Analytics

Property Profile Location Intelligence

Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Bakery Furniture & Home Goods (Bike/Boat/Book/etc) Store Storage Facility Catering Service

Zoning and permitted uses should be independently verified with authorities.

Frequently Asked Questions

What type of property is this?

Duplex - Two currently leased rental homes on separate city lots, with a third unit addition supported by utilities at the vacant lot.

Where is this duplex located?

The property is located at 803 & 805 REASON Avenue Loogootee, IN.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: Two city lots with multiple rental income streams, including two active rentals and space to add a third unit; Current rental: 3 bed, 1 bath mobile home rental (12 x 70 = 840 SF) with an active 1‑year lease expiring 1 Nov 2026; Current rental: 2 bed, 1 bath pole barn house rental (40 x 26 = 1,040 SF) with an active 1‑year lease expiring 1 Nov 2026