Two-Unit Bungalow
New
For Sale
$190,000
1106 S Madison St, Bloomington, IN 47403
One residence is occupied month to month, while the second is vacant.
Property Size1,408 SF
Price / SF$134.94
Days on Market7
Property Features for 1106 S Madison St
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
Carpenter Realtors Greenwood
Listed By:
Lisanne Allen
(812) 369-8242
Source:
Barberryrealty
Added: Oct 7
Last Checked: Oct 7 at 2:38PM
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 Carpenter Realtors Greenwood
Investment Insights
Based on property information with market context.
This 1,408-square-foot bungalow-style duplex, built in 1930, contains two 2-bedroom, 1-bath units. The front residence is occupied under a month-to-month arrangement; the rear residence is vacant. Deferred maintenance is present.
The front unit uses street parking, and 2–3 parking spaces are available for the rear unit. Walking trails and Switchyard Park are nearby.
The front unit uses street parking, and 2–3 parking spaces are available for the rear unit. Walking trails and Switchyard Park are nearby.
Key Highlights
- Two 2‑bedroom, 1‑bath residences in a 1,408‑square‑foot duplex
- Built in 1930; bungalow‑style construction
- Front unit occupied month to month; rear unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,654
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,080
$253.1K
Cap Rate 7%
$180,771
$180.8K
Cap Rate 9%
$140,600
$140.6K
Market Conditions
NOI Build-Up for 1,408 SF
Gross rent
$19.1K $13.56/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$18.1K $12.84/SF
− OpEx
−$5.4K −$3.85/SF
NOI
$12.7K $8.99/SF
Area
Monroe County, IN
Vacancy
5.32%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,080
Cap Rate 7%
$180,771
Cap Rate 9%
$140,600
Alternative Uses
Best Use
Multifamily LT 5
$180.8K
$158.2K – $210.9K
NOI $12,654 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$164.2K
$143.7K – $191.5K
NOI $11,492 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$275.2K
$240.8K – $321.0K
NOI $19,262 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied month to month, while the second is vacant.
Where is this duplex located?
The property is located at 1106 S Madison St Bloomington, IN.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath residences in a 1,408‑square‑foot duplex; Built in 1930; bungalow‑style construction; Front unit occupied month to month; rear unit vacant
