Occupied Duplex With
1106 Madison Avenue Evansville, IN 47714
For Sale
$129,900
Pending
MULTI_FAMILY - Ranch - Evansville, IN
Property Size1,376 SF
Lot Size0.12 Acres
Days on Market98
Property Features for 1106 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
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 Agency:
Berkshire Hathaway HomeServices Indiana Realty
(812) 474-7000
Listed By:
Jeremiah Mominee · License #RB14038844
(812) 454-1146
Added: Apr 24
Changed: Jul 29
Last Checked: Jul 30 at 12:06AM
MLS# 202614902
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 duplex at 1106 Madison Avenue offers a straightforward two-unit residential income setup. The property includes a small shed out back. Both units are currently occupied by tenants, which supports an income-producing arrangement for buyers seeking occupied housing at the time of purchase. Tenants are responsible for gas/electric as well as water/sewer fees, helping to separate utility costs from the owner’s expenses. The duplex totals 1,376 square feet on a 0.12-acre lot.
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.
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
- Duplex at 1106 Madison Ave (47714) with both units currently occupied by tenants
- Ranch‑style property built in 1953
- Central air cooling and wood flooring
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 |
1,376 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$179.4K
$157.0K – $209.3K
NOI $12,560 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$165.0K
$144.4K – $192.5K
NOI $11,549 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$341.6K
$298.9K – $398.5K
NOI $23,912 @ 7.0% cap · market cap 18.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two rental units are currently occupied, with tenants paying gas and electric plus water and sewer fees.
Where is this duplex located?
The property is located at 1106 Madison Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Duplex at 1106 Madison Ave (47714) with both units currently occupied by tenants; Ranch‑style property built in 1953; Central air cooling and wood flooring
