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    803 Reason Ave Loogootee, IN 47553

    For Sale
    $249,500

    Other - Loogootee, IN

    Property size:
    1,880 SF
    Lot size:
    0.45 Acres
    Days on Market:
    19
    Last Refresh:
    Dec 5 at 10:06 pm

    Property Features for 803 Reason Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
    Bedrooms
    5
    Bathrooms
    2
    APN
    51-08-25-200-185.000-008
    Parking features
    Off Street
    Patio and Porch features
    Deck
    EntryLevel
    Main
    Exterior features
    Off Street Parking, Deck Covered, Water Heater Electric, None
    Appliances
    Range
    Size
    1,880 SF
    Lot size
    0.45 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet, Tile, Vinyl
    Roof type
    Asphalt, Metal
    Architectural style
    Other

    F.C. Tucker Emge REALTORS (812) 402-0200 [email protected]

    Listing agent Barb Hays (812) 482-1424 License #RB20000195

    Listing date Nov 17, 2025

    MLS# 202546179 Listing URL

    Copyright © 2025 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.

    Overview

    Loogootee Investment Opportunity: Rental Income

    This property presents an investment opportunity with two active rentals and the potential to add a third. Situated on two city lots, the property offers flexibility and income potential. The property includes a 3-bedroom, 1-bath mobile home rental with 840 square feet, and a 2-bedroom, 1-bath pole barn house rental with 1040 square feet. The additional vacant lot is equipped with electric, water, and sewer connections, making it suitable for adding a third rental unit. The property is located in town, close to amenities and employment opportunities. The current leases are one-year leases expiring on November 1, 2026. The lot size is 0.45 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Loogootee
    County
    Martin
    State
    Indiana
    Longitude
    -86.92338140741
    Latitude
    38.669494726573

    FAQs

    What type of property is this?
    Mobile home & RV park - Two rentals with potential for a third on two city lots.
    Where is this mobile home & rv park located?
    The property is located at 803 Reason Ave Loogootee, IN.
    What is the asking price?
    The asking price for this property is $249,500.
    What are key features of this property?
    This property features: - Multiple Income Streams: Two existing rentals provide immediate cash flow.; - Expansion Potential: Vacant lot with existing connections allows for adding a third rental unit.; - Strong Rental Demand: Convenient in-town location ensures consistent tenant appeal.
    (812) 482-1424
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    Loogootee, IN 47553
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    803 Reason Ave Loogootee, IN 47553
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