Newly Constructed Tenant-Occupied
For Sale
$290,000
1415 E Morrison St, Frankfort, IN 46001
Two-unit property with open living areas, integrated kitchens, and large bedrooms.
Property Size1,848 SF
Price / SF$156.93
Days on Market88
Property Features for 1415 E Morrison St
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Epique Inc.
Listed By:
John Brannan · License #RB23001690
(765) 242-8835
Source:
Kmsrealestategroup
Added: Jul 21
Changed: Sep 5
Last Checked: Oct 7 at 5:08PM
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 Epique Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in August 2025, this duplex contains two tenant-occupied residential units with approximately 1,848 square feet of total property size. Each unit is arranged around an open living and kitchen area, with large bedrooms and generous closet storage. The property was built in 2025 and presents a newly constructed configuration for residential income use.
Located at 1415 E Morrison St in Frankfort, Indiana, the asset offers an established duplex format with occupancy already in place. Square footage should be independently verified by the buyer.
Located at 1415 E Morrison St in Frankfort, Indiana, the asset offers an established duplex format with occupancy already in place. Square footage should be independently verified by the buyer.
Key Highlights
- Two‑unit duplex completed in August of 2025
- Tenant‑occupied at the time of listing
- Approximately 1,848 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,387
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,740
$307.7K
Cap Rate 7%
$219,814
$219.8K
Cap Rate 9%
$170,967
$171.0K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$23.3K $12.60/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$22.0K $11.89/SF
− OpEx
−$6.6K −$3.57/SF
NOI
$15.4K $8.33/SF
Area
Madison County, IN
Vacancy
5.60%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,740
Cap Rate 7%
$219,814
Cap Rate 9%
$170,967
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.3K – $256.5K
NOI $15,387 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$202.5K
$177.2K – $236.3K
NOI $14,177 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$425.9K
$372.7K – $496.9K
NOI $29,816 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 46001, IN
10,676
Population
5,065
Households
2.1
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
77.2 sq mi
ZIP Area
138
Density / Sq Mi
$66,379
Median Household Income
$42,283
Median Earnings
$875
Median Rent
$136,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with open living areas, integrated kitchens, and large bedrooms.
Where is this duplex located?
The property is located at 1415 E Morrison St Frankfort, IN.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex completed in August of 2025; Tenant‑occupied at the time of listing; Approximately 1,848 square feet of property size
