Duplex with Unfinished
New
For Sale
$299,900
Pending
1350 E Rhorer Road, Bloomington, IN 47401
The building is currently vacant and retains a layout that can be returned to two residential units.
Property Size1,934 SF
Lot Size1.25 Acres
Days on Market5
Property Features for 1350 E Rhorer Road
General Information
Standard status
Pending
Size
1,934 SF
Lot size
1.25 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Amenities
attached garage
covered shelter
unfinished basement
partially fenced backyard
Building Details
Year Built
1958
Buildings
1
Stories
1
Listing Agency:
Dohman Team
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Source:
Castleonerealty
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 5:28PM
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 Dohman Team
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Investment Insights
Based on property information with market context.
Built in 1958, this 1,934-square-foot building has four bedrooms and two full bathrooms. Originally arranged as a duplex, it is currently configured for an in-home daycare across both sides, with a connecting area that allows for conversion back to separate residential units. The property is vacant and includes an attached garage and an unfinished basement of approximately 900 square feet.
The approximately 1.25-acre property has a partially fenced backyard, a covered shelter, ample parking, and city sewer. The existing configuration supports either continued daycare use or a return to a two-unit residential layout.
The approximately 1.25-acre property has a partially fenced backyard, a covered shelter, ample parking, and city sewer. The existing configuration supports either continued daycare use or a return to a two-unit residential layout.
Key Highlights
- 1,934‑square‑foot building with 4 bedrooms and 2 full baths
- Originally configured as a duplex; currently set up for an in‑home daycare across both sides
- Connecting area can be reconfigured to separate the two residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,381
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,620
$347.6K
Cap Rate 7%
$248,300
$248.3K
Cap Rate 9%
$193,122
$193.1K
Market Conditions
NOI Build-Up for 1,934 SF
Gross rent
$26.2K $13.56/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$24.8K $12.84/SF
− OpEx
−$7.4K −$3.85/SF
NOI
$17.4K $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%
$347,620
Cap Rate 7%
$248,300
Cap Rate 9%
$193,122
Alternative Uses
Best Use
Multifamily LT 5
$248.3K
$217.3K – $289.7K
NOI $17,381 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$225.5K
$197.3K – $263.1K
NOI $15,785 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$378.0K
$330.7K – $441.0K
NOI $26,458 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
96
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The building is currently vacant and retains a layout that can be returned to two residential units.
Where is this duplex located?
The property is located at 1350 E Rhorer Road Bloomington, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,934‑square‑foot building with 4 bedrooms and 2 full baths; Originally configured as a duplex; currently set up for an in‑home daycare across both sides; Connecting area can be reconfigured to separate the two residential units
