Two-Unit Duplex Income
1500 S Harlan Ave Evansville, IN 47714
New
For Sale
$150,000
Duplex with two 2-bedroom, 1-bath units, suited for owner-occupants or investors seeking rental income.
Property Size1,400 SF
Price / SF$107.14
Days on Market7
Property Features for 1500 S Harlan Ave
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Building Details
Year Built
1935
Listing Agency:
KELLER WILLIAMS CAPITAL REALTY
(812) 774-2596
Listed By:
Erica Berendsen · License #RB21002306
Source:
Daubyrealestate
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 29 at 9:01AM
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 KELLER WILLIAMS CAPITAL REALTY
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units, each with two bedrooms and one bathroom. The property is positioned as a straightforward income option for either an investor seeking rental revenue or an owner-occupant looking to live in one unit while renting the other.
The offering is for sale and is described as ready for its next owner. The property is located at 1500 S Harlan Ave in Evansville, Indiana (47714).
With a total size of 1,400 square feet, the duplex configuration provides two distinct living spaces within one income property.
The offering is for sale and is described as ready for its next owner. The property is located at 1500 S Harlan Ave in Evansville, Indiana (47714).
With a total size of 1,400 square feet, the duplex configuration provides two distinct living spaces within one income property.
Key Highlights
- Duplex built in 1935 with two separate 2‑bedroom, 1‑bath units
- Two 2‑bedroom, 1‑bath units offer flexibility for an owner‑occupant or rental investment
- Suitable for leasing one or both units to generate rental income
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 | $19.3k | $13.80 |
| − Vacancy | −$1.1k | −$0.76 |
| EGI | $18.3k | $13.04 |
| − OpEx | −$5.5k | −$3.91 |
| NOI | $12.8k | $9.13 |
1,400 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$182.6K
$159.7K – $213.0K
NOI $12,779 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$167.9K
$146.9K – $195.9K
NOI $11,751 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$347.6K
$304.1K – $405.5K
NOI $24,329 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, suited for owner-occupants or investors seeking rental income.
Where is this duplex located?
The property is located at 1500 S Harlan Ave Evansville, IN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Duplex built in 1935 with two separate 2‑bedroom, 1‑bath units; Two 2‑bedroom, 1‑bath units offer flexibility for an owner‑occupant or rental investment; Suitable for leasing one or both units to generate rental income
