Arts & Crafts
For Sale
$399,900
1231-1233 E Tylers Turn, Bloomington, IN 47401
INVESTMENT, Townhouse, Bloomington, IN
Property Size2,440 SF
Lot Size0.27 Acres
Price / SF$163.89
Days on Market208
Property Features for 1231-1233 E Tylers Turn
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 5
Parking
4
Parking features
Off Street
Subdivision
Southeast Bloomington City
Lot features
City/ Town/ Suburb, Cul-De-Sac
Elementary school
Templeton
Middle school
Jackson Creek
High school
Bloomington South
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
From Hillside Drive, turn South on Maxwell Street to Tylers Turn (right).
Standard status
Active
APN
53-08-10-209-006.000-009
Size
2,440 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
015-58830-06 Huntington Renaissance Ph 1 Lot 6 AND 015-58830-05 Huntington Renaissance Ph 1 Lot 5
HOA Fee
$200 Quarterly
Legal Description
015-58830-06 Huntington Renaissance Ph 1 Lot 6 AND 015-58830-05 Huntington Renaissance Ph 1 Lot 5
Utilities
Cooling system
Central Air
Building Details
Year built
1992
Number of units
2
Flooring type
Mixed
Architectural style
Other
Listing Agency:
RE/MAX Acclaimed Properties · RE/MAX International
(812) 332-3001
Listed By:
Gigi Larmour-Goldin · License #RB14005167
(812) 327-5608
Added: Mar 9
Changed: Sep 29
Last Checked: Oct 2 at 11:06AM
MLS# 202607560
Copyright © 2026 Indiana Uplands Realtor® Association. 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 1992, this 2,440-square-foot duplex contains two townhome-style residences, each arranged with 3 bedrooms and 2 bathrooms. The Arts & Crafts design, central air, mixed flooring, and off-street parking provide a practical residential configuration, while the 0.269-acre parcel sits on a quiet cul-de-sac. The property can support an owner-occupant arrangement with separate living space on each side, or continued use as a two-unit rental property.
The home is positioned near Indiana University, Bloomington Parks & Trails, Winslow Sports Complex, the YMCA, downtown Bloomington, eastside shopping, and I-69. Its address is 1231-1233 E Tylers Turn, Bloomington, IN 47401, in Monroe County.
The home is positioned near Indiana University, Bloomington Parks & Trails, Winslow Sports Complex, the YMCA, downtown Bloomington, eastside shopping, and I-69. Its address is 1231-1233 E Tylers Turn, Bloomington, IN 47401, in Monroe County.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per side
- 2,440 square feet on a 0.269‑acre parcel
- Arts & Crafts‑style construction completed in 1992
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,928
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,560
$438.6K
Cap Rate 7%
$313,257
$313.3K
Cap Rate 9%
$243,644
$243.6K
Market Conditions
NOI Build-Up for 2,440 SF
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.
Gross rent
$33.1K $13.56/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$31.3K $12.84/SF
− OpEx
−$9.4K −$3.85/SF
NOI
$21.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,560
Cap Rate 7%
$313,257
Cap Rate 9%
$243,644
Alternative Uses
Best Use
Multifamily LT 5
$313.3K
$274.1K – $365.5K
NOI $21,928 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$284.5K
$248.9K – $331.9K
NOI $19,915 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$476.9K
$417.3K – $556.4K
NOI $33,381 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two townhome-style units offer three bedrooms and two baths per side with central air and off-street parking.
Where is this duplex located?
The property is located at 1231-1233 E Tylers Turn Bloomington, IN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per side; 2,440 square feet on a 0.269‑acre parcel; Arts & Crafts‑style construction completed in 1992
