Duplex with Two 2-Bed
1118 & 1120 E Negley Avenue Evansville, IN 47711
1118 & 1120 E Negley Avenue, Evansville, IN, 47711
$70,000
For Sale
$70,000
Two 2-bedroom, 1-bath units make up this duplex, including a new HVAC system and a 2-car garage.
Property Size725 SF
Price / SF$96.55
Days on Market242
Property Features for 1118 & 1120 E Negley Avenue
General Information
- Standard status
- Active
- Size
- 725 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1944
Listing agency
Key Associates Signature Realty
(812) 774-2688
Listed by
Jessica Gries · License #RB23000440
(812) 774-2688
Source
Compass
Added: Nov 23, 2025 Updated: Jul 22 at 11:39PM Checked: Jul 22 at 11:39PM
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 Key Associates Signature Realty
Investment Insights
Based on property information with market context.
For sale duplex offering two separate 2-bedroom, 1-bath units at 1118 & 1120 E Negley Avenue in Evansville, IN. The property totals a 4/2 configuration and presents renovation opportunity, with one side described as almost currently rentable while the other needs updates to become fully viable.
Improvements noted in the property materials include a brand new HVAC system. There is also a rare 2-car garage included with the duplex, adding practical off-street parking for tenants or future occupants.
This layout is well suited for an owner-occupant or investor seeking to realize value through completion of the unit that requires renovation, while maintaining income from the side described as closer to rent-ready condition.
Improvements noted in the property materials include a brand new HVAC system. There is also a rare 2-car garage included with the duplex, adding practical off-street parking for tenants or future occupants.
This layout is well suited for an owner-occupant or investor seeking to realize value through completion of the unit that requires renovation, while maintaining income from the side described as closer to rent-ready condition.
Key Highlights
- 4/2 duplex with two 2‑bedroom, 1‑bath units
- Brand new HVAC system
- Includes a rare 2‑car garage
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 | $11.7k | $16.20 |
| − Vacancy | −$681 | −$0.94 |
| EGI | $11.1k | $15.26 |
| − OpEx | −$5.0k | −$6.87 |
| NOI | $6.1k | $8.39 |
725 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$94.5K
$82.7K – $110.3K
NOI $6,618 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$86.9K
$76.1K – $101.4K
NOI $6,085 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$180.0K
$157.5K – $210.0K
NOI $12,599 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Keelos
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two 2-bedroom, 1-bath units make up this duplex, including a new HVAC system and a 2-car garage.
Where is this duplex located?
The property is located at 1118 & 1120 E Negley Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: 4/2 duplex with two 2‑bedroom, 1‑bath units; Brand new HVAC system; Includes a rare 2‑car garage
