Building Details

Year Built 1992

Construction Arts & Crafts

Listing Agency: Century 21 Scheetz - Bloomington Show Phone

Listed By: Carson and Lisa Lowry Real Estate Show Phone

Source: Carsonlowryrealestate

Added: Oct 14 Changed: Oct 16 Last Checked: Oct 16 at 9:08AM

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Investment Insights

Based on property information with market context.

Built in 1992, this 2,440-square-foot duplex contains two townhome-style residences. Each side has three bedrooms and two bathrooms. The layout supports separate occupancy, including the option for an owner to live in one unit and rent the other.

The property is on a cul-de-sac in Bloomington, with Indiana University, Bloomington Parks & Trails, Winslow Sports Complex, the YMCA, downtown, eastside shopping, and I-69 among the nearby destinations. It is one of two adjacent duplexes available.

Key Highlights

• Two residences, each with 3 bedrooms and 2 bathrooms
• 2,440 square feet; built in 1992
• Townhome‑style layout on a cul‑de‑sac

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,857

Cap Rate

6.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$877,140 $877.1K

Cap Rate 7%

$626,529 $626.5K

Cap Rate 9%

$487,300 $487.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,880 SF

Gross rent

$66.2K $13.56/SF

− Vacancy

−$3.5K −$0.72/SF

EGI

$62.7K $12.84/SF

− OpEx

−$18.8K −$3.85/SF

NOI

$43.9K $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%

$877,140

Cap Rate 7%

$626,529

Cap Rate 9%

$487,300

Alternative Uses

Best Use

Multifamily LT 5

$626.5K

$548.2K – $731.0K (±1% cap)

NOI $43,857 @ 7.0% cap · market cap 6.05%

Second Best

Apartment 5plus

$569.0K

$497.9K – $663.8K (±1% cap)

NOI $39,830 @ 7.0% cap · market cap 5.49%

Theoretical Best

Office A

$953.7K

$834.5K – $1.11M (±1% cap)

NOI $66,761 @ 7.0% cap · market cap 9.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

193

Businesses Nearby

Explore this area Business Placement

Demographics for 47401, IN

41,225

Population

21,162

Households

1.9

Avg Household Size

35

Median Age

62%

College-Educated

95%

High-School Grad

82.6 sq mi

ZIP Area

499

Density / Sq Mi

$65,643

Median Household Income

$34,279

Median Earnings

$1,181

Median Rent

$333,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Separate residences allow an owner to live in one unit while receiving rental income from the other.

Where is this duplex located?

The property is located at 1230 E Tylers Turn Bloomington, IN.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 2,440 square feet; built in 1992; Townhome‑style layout on a cul‑de‑sac