Duplex with Two Rental
1303 E Oak Street New Albany, IN 47150
1303 E Oak Street, New Albany, IN, 47150
$149,900
For Sale
$149,900
Two-unit duplex offers an efficiency-style unit and a one-bedroom unit, both with kitchen appliances and off-street parking.
Property Size1,160 SF
Price / SF$129.22
Days on Market2529
Property Features for 1303 E Oak Street
General Information
- Standard status
- Active
- Size
- 1,160 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1929
Listing agency
RE/MAX FIRST
(812) 283-4778
Listed by
Diana Mayfield · License #RB14012873
(812) 283-4778
Source
Xome
Added: Aug 20, 2019 Updated: Jul 22 at 4:36AM Checked: Jul 22 at 4:36AM
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 RE/MAX FIRST
Investment Insights
Based on property information with market context.
This duplex in New Albany includes two separate residential units. Unit 1 is an efficiency layout featuring a large bedroom, galley kitchen, and a bath. Unit 2 offers one bedroom with a living room, kitchen, and bath. Both units include a refrigerator and range, and recent updates include new cabinets, carpet, vinyl flooring, and fresh paint. The property is set up so an owner can potentially move into one side while renting the other.
Off-street parking is provided at the back of the house. Square footage and measurements are approximate, and buyers should verify any items they consider critical.
Off-street parking is provided at the back of the house. Square footage and measurements are approximate, and buyers should verify any items they consider critical.
Key Highlights
- Two‑unit duplex built in 1929 in New Albany
- Unit 1 is an efficiency‑style layout with a large bedroom, galley kitchen, and bath
- Unit 2 is a 1‑bedroom unit with living room, kitchen, and bath
Local Financial Insights For Multifamily LT 5
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 | $14.1k | $12.12 |
| − Vacancy | −$1.0k | −$0.88 |
| EGI | $13.0k | $11.24 |
| − OpEx | −$3.9k | −$3.37 |
| NOI | $9.1k | $7.86 |
1,160 SF · lease $12.12/SF/yr · vacancy 7.30% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$130.3K
$114.0K – $152.1K
NOI $9,123 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$117.4K
$102.7K – $136.9K
NOI $8,215 @ 7.0% cap · market cap 5.48%
Theoretical Best
Specialty Retail
$838.5K
$733.7K – $978.2K
NOI $58,692 @ 7.0% cap · market cap 39.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two-unit duplex offers an efficiency-style unit and a one-bedroom unit, both with kitchen appliances and off-street parking.
Where is this duplex located?
The property is located at 1303 E Oak Street New Albany, IN.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1929 in New Albany; Unit 1 is an efficiency‑style layout with a large bedroom, galley kitchen, and bath; Unit 2 is a 1‑bedroom unit with living room, kitchen, and bath
