16-Unit Brick Apartment
For Sale
$1,800,000
1410 East Jefferson Street, Franklin, IN 46131
Two brick buildings offer updated finishes, private outdoor space, and shared laundry.
Property Size15,568 SF
Price / SF$115.62
Days on Market157
Property Features for 1410 East Jefferson Street
General Information
Standard status
Active
Size
15,568 SF
Property subtype
Multi Family / Apartment Complex
Lease Term
1 Year
Taxes and HOA fees
Annual Taxes
$16,526
Amenities
Central Air
2
No
Carpet, Mixed, Vinyl, Wood
16
Forced Air
1
15
Crawl
31
Yes
Brick
Balcony, Patio Open
Building Details
Year Built
1967
Units
16
Listing Agency:
CRM Properties, Inc
(765) 431-9111
Listed By:
Audra Cannon · License #RB20000586
(765) 431-9111
Source:
Compass
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 1:33PM
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 CRM Properties, Inc
Investment Insights
Based on property information with market context.
This 16-unit apartment property consists of two brick buildings with eight apartments in each. The buildings contain 15,568 square feet and were constructed in 1967. Many apartments feature newer vinyl plank flooring, while individual units provide functional layouts with a private patio or balcony. Central air and forced-air heating serve the property.
The buildings face one another across a central parking area with approximately 40 spaces. A shared laundry facility is available for tenant use, and tenants are responsible for all utilities. The property is located at 1410 East Jefferson Street in Franklin, Indiana.
The buildings face one another across a central parking area with approximately 40 spaces. A shared laundry facility is available for tenant use, and tenants are responsible for all utilities. The property is located at 1410 East Jefferson Street in Franklin, Indiana.
Key Highlights
- 16‑unit property arranged in two brick buildings with 8 apartments each
- 15,568 square feet across buildings constructed in 1967
- Many units feature recently installed vinyl plank flooring
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
$124,943
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
6.94%
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%
$2,498,860
$2.5M
Cap Rate 7%
$1,784,900
$1.8M
Cap Rate 9%
$1,388,256
$1.4M
Market Conditions
NOI Build-Up for 15,568 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
$239.1K $15.36/SF
− Vacancy
−$12.0K −$0.77/SF
EGI
$227.2K $14.59/SF
− OpEx
−$102.2K −$6.57/SF
NOI
$124.9K $8.03/SF
Area
Johnson County, IN
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$2,498,860
Cap Rate 7%
$1,784,900
Cap Rate 9%
$1,388,256
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,943 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,620 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 46131, IN
32,869
Population
13,151
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
261
Density / Sq Mi
$81,914
Median Household Income
$44,797
Median Earnings
$1,114
Median Rent
$227,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two brick buildings offer updated finishes, private outdoor space, and shared laundry.
Where is this apartment building located?
The property is located at 1410 East Jefferson Street Franklin, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 16‑unit property arranged in two brick buildings with 8 apartments each; 15,568 square feet across buildings constructed in 1967; Many units feature recently installed vinyl plank flooring
