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    402 Main St Madison, IN 47250

    For Sale
    $449,900

    Prime Downtown Location, High Rental Income

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional multi-family property, located at 402 E Main Street in the heart of historic downtown Madison, Indiana, presents a compelling investment opportunity. The building boasts a desirable mix of rental units, ensuring strong occupancy rates and consistent cash flow. The main floor comprises two apartments: a spacious two-bedroom unit and a comfortable one-bedroom unit. Adding to the property's income potential are seven efficient studio units located on the third floor, which share two well-maintained bathrooms. The fourth floor is currently unfinished, offering significant potential for future expansion and value enhancement. The property sits on a conveniently sized 0.03-acre lot, ideal for its current configuration and minimizing maintenance needs. The asking price of $449,900 reflects the property's strong rental income potential and prime location within a thriving historic district. This is a rare chance to acquire a well-positioned multi-family investment in a sought-after Indiana town. The existing units are well-maintained and ready for immediate occupancy, minimizing vacancy periods and maximizing return on investment. The unfinished fourth floor presents a unique opportunity to increase the property's value and rental income through strategic development. This property is an excellent addition to any investment portfolio seeking stable returns and long-term growth. Serious inquiries are encouraged.

    Property Features for 402 Main St

    General Information

    Property type
    Residential income properties
    Lot Size
    1,307 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    The Fountain Building Tourist Attraction Kentuckiana News News Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Jefferson_IN
    State
    Indiana
    Longitude
    -85.37562
    Latitude
    38.73611

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    FAQs

    What type of property is this?
    Residential income property - Prime Downtown Location, High Rental Income
    Where is this residential income property located?
    The property is located at 402 Main St Madison, IN.
    What is the asking price?
    The asking price for this property is $449,900.
    (812) 265-3122
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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
    402 Main St Madison, IN 47250
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