Six-Unit Apartment
For Sale
$879,000
100-106 S Yancy Ln, Bloomington, IN 47404
Three duplex buildings provide six three-bedroom units with individual carports on Bloomington’s west side.
Property Size6,624 SF
Lot Size1.07 Acres
Price / SF$132.70
Days on Market32
Property Features for 100-106 S Yancy Ln
General Information
Standard status
Active
Size
6,624 SF
Total Parking Spaces
6
Lot size
1.07 Acres
Units
Unit Mix
6 x 3BR/1BA
Multifamily Units
6
Additional Details
Highway Access
Yes
Building Details
Year Built
1966
Buildings
3
Listing Agency:
Stafford Real Estate
(812) 325-4453
Listed By:
Jim Stafford · License #RB14033324
Source:
Spencerchildersgroup
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 30 at 7:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stafford Real Estate
Investment Insights
Based on property information with market context.
This multifamily property includes three duplex buildings totaling six 3-bedroom, 1-bath apartments across 6,624 square feet. Each unit includes a one-car carport. The buildings were constructed in 1966 and occupy 1.07 acres at the end of a dead-end street.
Four apartments are vacant, while two have month-to-month tenants. The property is located near West 3rd Street and I-69, with access to west-side shopping, restaurants, major employers, and Indiana University. The site may include an additional buildable lot for one more dwelling unit, subject to buyer verification of development feasibility, zoning, and building requirements.
Four apartments are vacant, while two have month-to-month tenants. The property is located near West 3rd Street and I-69, with access to west-side shopping, restaurants, major employers, and Indiana University. The site may include an additional buildable lot for one more dwelling unit, subject to buyer verification of development feasibility, zoning, and building requirements.
Key Highlights
- Six 3‑bedroom, 1‑bath apartment units across three duplex buildings
- 6,624 square feet on 1.07 acres
- One‑car carport included with each unit
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
$54,064
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
6.15%
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%
$1,081,280
$1.1M
Cap Rate 7%
$772,343
$772.3K
Cap Rate 9%
$600,711
$600.7K
Market Conditions
NOI Build-Up for 6,624 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
$104.1K $15.72/SF
− Vacancy
−$5.8K −$0.88/SF
EGI
$98.3K $14.84/SF
− OpEx
−$44.2K −$6.68/SF
NOI
$54.1K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$1,081,280
Cap Rate 7%
$772,343
Cap Rate 9%
$600,711
Alternative Uses
Best Use
Apartment 5plus
$772.3K
$675.8K – $901.1K
NOI $54,064 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,620 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 47404, IN
23,799
Population
12,101
Households
2
Avg Household Size
33
Median Age
43%
College-Educated
95%
High-School Grad
52.6 sq mi
ZIP Area
452
Density / Sq Mi
$54,674
Median Household Income
$36,725
Median Earnings
$1,159
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three duplex buildings provide six three-bedroom units with individual carports on Bloomington’s west side.
Where is this apartment building located?
The property is located at 100-106 S Yancy Ln Bloomington, IN.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Six 3‑bedroom, 1‑bath apartment units across three duplex buildings; 6,624 square feet on 1.07 acres; One‑car carport included with each unit
