Two-Unit Bungalow
New
For Sale
$190,000
1106 S Madison Street, Bloomington, IN 47403
INVESTMENT, Detached, Bloomington, IN
Property Size1,408 SF
Lot Size0.20 Acres
Price / SF$134.94
Days on Market3
Property Features for 1106 S Madison Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 2, Basement, Bathroom 2, Bathroom 1, Bedroom 4
Parking
3
Parking features
Off Street
Basement
Block
Lot features
City/ Town/ Suburb, Near College Campus, Near Walking Trail, Level
Elementary school
Templeton
Middle school
Jackson Creek
High school
Bloomington South
Elementary school district
Monroe County Community School Corp.
Middle school district
Monroe County Community School Corp.
High school district
Monroe County Community School Corp.
Directions
GPS friendly
Subdivision
Monroe County
Standard status
Active
APN
53-08-05-401-016.000-009
Size
1,408 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
M M Campbell Lot 46
Tax Annual Amount
3490
Legal Description
M M Campbell Lot 46
Building Details
Year built
1930
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Asphalt
Architectural style
Bungalow
Listing Agency:
Carpenter Realtors Greenwood
(317) 881-8100
Listed By:
Lisanne Allen
(812) 369-8242
Added: Oct 5
Last Checked: Oct 7 at 5:06AM
MLS# 202641209
Copyright © 2026 Bedford Board 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.
Built in 1930, this 1,408-square-foot bungalow duplex contains two 2-bedroom, 1-bath units on a 0.2-acre lot. The front residence is occupied under a month-to-month arrangement; the rear residence is vacant. The property has deferred maintenance, with carpet and vinyl flooring and an asphalt roof. Street parking serves the front unit, and the rear unit has 2–3 off-street spaces.
Walking trails and Switchyard Park are nearby. The two-unit layout, occupancy mix, and existing parking arrangements define the property’s current configuration.
Walking trails and Switchyard Park are nearby. The two-unit layout, occupancy mix, and existing parking arrangements define the property’s current configuration.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a 1,408‑square‑foot duplex
- 0.2‑acre lot; bungalow style and built in 1930
- 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.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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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 for a new owner to address or occupy.
Where is this duplex located?
The property is located at 1106 S Madison Street 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 units in a 1,408‑square‑foot duplex; 0.2‑acre lot; bungalow style and built in 1930; Front unit occupied month‑to‑month; rear unit vacant
