1106 Madison Avenue Evansville, IN 47714
MULTI_FAMILY - Ranch - Evansville, IN
- Added:
- Apr 24, 2026
- Days on Market:
- 81
- Last Refresh:
- Jul 13 at 11:06 pm
Property Features for 1106 Madison Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
- Parking
- 2
- Standard status
- Pending
- APN
- 82-06-33-013-018.004-027
- Size
- 1,376 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- HART PL. PT. L.4 BL.2
- Tax Annual Amount
- 1000
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1953
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Wood
- Roof type
- Asphalt, Shingle
- Architectural style
- Ranch
Listing agent Jeremiah Mominee License #RB14038844 (812) 454-1146
Listing office Berkshire Hathaway HomeServices Indiana Realty 7220 Eagle Crest Blvd, Evansville, IN (812) 474-7000
Listing date Apr 24, 2026
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.
The home is located in Evansville, Indiana, in Vanderburgh County, near Akin Park. The listing notes “skipping distance” to the park. Access for showings requires advance coordination, with 24-hour notice prior to all showings.
For investors or owner-occupants looking for a duplex structure with current tenant occupancy, this property provides two separately rented units within the same building. Because utilities are handled by the tenants through gas/electric and water/sewer fee payments, the operating profile may be easier to manage. Interested parties should plan showings in advance given tenant-occupied status, and review the utility arrangements with the listing agent prior to submitting an offer.
Key Highlights
- Ranch duplex with two occupied units—both units currently have tenants in place
- Wood flooring and central air cooling
- Built in 1953 with a shingle/asphalt roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.3k | $16.20 |
| − Vacancy | −$1.3k | −$0.94 |
| EGI | $21.0k | $15.26 |
| − OpEx | −$9.4k | −$6.87 |
| NOI | $11.5k | $8.39 |
