Triplex With Two Leased
New
For Sale
$350,000
1310 N Maple Street, Bloomington, IN 47404
INVESTMENT, Bloomington, IN
Property Size2,408 SF
Lot Size0.20 Acres
Price / SF$145.35
Days on Market7
Property Features for 1310 N Maple Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3
Parking
1
Lot features
Level
Elementary school
Fairview
Middle school
Tri-North
High school
Bloomington North
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
North of Walnut Street, left on W 17th Street, left on Maple Street by City Glass. Apartments on left side.
Subdivision
Monroe County
Standard status
Active
APN
53-05-32-103-014.000-005
Size
2,408 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
013-17920-00 OutLot PT 118
Legal Description
013-17920-00 OutLot PT 118
Utilities
Cooling system
Central Air
Building Details
Year built
1950
Number of units
3
Flooring type
Carpet, Wood, Tile - Ceramic, Laminate
Listing Agency:
Phoenix Property Management & Real Estate
(812) 330-8655
Listed By:
Tonya Myles
(812) 369-8546
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 27 at 12:06PM
MLS# 202639093
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.
This 2,408-square-foot triplex includes three distinct residential units on a 0.2-acre lot. The front-entry unit offers two bedrooms and one bathroom, while the side-entry unit includes one bedroom and one bathroom. A separate freestanding unit provides two bedrooms, a loft, and one bathroom. Interior finishes include ceramic tile, wood, carpet, and laminate flooring, with central air conditioning serving the property. Built in 1950, the building provides a mix of unit configurations within a single residential income property.
Unit One is leased through Summer 2027, and Unit Two is occupied under a month-to-month lease. Unit Three is currently vacant. The property is located at 1310 N Maple Street in Bloomington, Indiana, within Monroe County and ZIP Code 47404.
Unit One is leased through Summer 2027, and Unit Two is occupied under a month-to-month lease. Unit Three is currently vacant. The property is located at 1310 N Maple Street in Bloomington, Indiana, within Monroe County and ZIP Code 47404.
Key Highlights
- Three‑unit property with 2,408 square feet of building area
- 0.2‑acre lot in Bloomington, Indiana
- Unit One: 2 bedrooms and 1 bathroom; lease runs through Summer 2027
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
$21,641
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
6.18%
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%
$432,820
$432.8K
Cap Rate 7%
$309,157
$309.2K
Cap Rate 9%
$240,456
$240.5K
Market Conditions
NOI Build-Up for 2,408 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
$32.7K $13.56/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$30.9K $12.84/SF
− OpEx
−$9.3K −$3.85/SF
NOI
$21.6K $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%
$432,820
Cap Rate 7%
$309,157
Cap Rate 9%
$240,456
Alternative Uses
Best Use
Multifamily LT 5
$309.2K
$270.5K – $360.7K
NOI $21,641 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$470.6K
$411.8K – $549.1K
NOI $32,943 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 47404, IN
23,799
Population
12,101
Households
2
Avg Household Size
33
Median Age
43%
College-Educated
95%
High-School Grad
52.6 sq mi
ZIP Area
452
Density / Sq Mi
$54,674
Median Household Income
$36,725
Median Earnings
$1,159
Median Rent
$243,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three-unit residential property with varied layouts, central air, and a combination of occupied and vacant units.
Where is this triplex located?
The property is located at 1310 N Maple Street Bloomington, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit property with 2,408 square feet of building area; 0.2‑acre lot in Bloomington, Indiana; Unit One: 2 bedrooms and 1 bathroom; lease runs through Summer 2027
