8-Bedroom
204-206 E 16th Street, Bloomington, IN 47408
For Sale
New
$749,900
INVESTMENT, One and Half Story, Bloomington, IN
Property Size3,094 SF
Lot Size0.20 Acres
Price / SF$242.37
Days on Market2
Property Features for 204-206 E 16th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking
Parking features
Basement
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Architectural style
Listing Agency:
RE/MAX Acclaimed Properties · RE/MAX International
(812) 332-3001
Listed By:
Andy Walker · License IN RB14032117
(812) 325-1290
Added: Nov 9
Last Checked: Nov 10 at 6:06PM
MLS# 202646115
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.
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Investment Insights
Based on property information with market context.
This duplex contains two residences totaling 8 bedrooms and 4.5 bathrooms. One unit has 5 bedrooms and 2.5 bathrooms; the other has 3 bedrooms and 2 full bathrooms. The 3,094-square-foot property was built in 1899 and sits on a 0.2-acre lot. Interior finishes include carpet, wood, and vinyl flooring, while central air provides cooling. Off-street parking is available.
The larger residence is currently leased, and the second unit is vacant. The property is located near Indiana University and downtown Bloomington, with shopping and dining also nearby.
The larger residence is currently leased, and the second unit is vacant. The property is located near Indiana University and downtown Bloomington, with shopping and dining also nearby.
Key Highlights
- Two‑unit property with 8 bedrooms and 4.5 bathrooms
- Larger unit: 5 bedrooms, 2.5 bathrooms; currently leased
- Second unit: 3 bedrooms, 2 full bathrooms; currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,806
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,120
$556.1K
Cap Rate 7%
$397,229
$397.2K
Cap Rate 9%
$308,956
$309.0K
Market Conditions
NOI Build-Up for 3,094 SF
Gross rent
$42.0K $13.56/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$39.7K $12.84/SF
− OpEx
−$11.9K −$3.85/SF
NOI
$27.8K $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%
$556,120
Cap Rate 7%
$397,229
Cap Rate 9%
$308,956
Alternative Uses
Best Use
Multifamily LT 5
$397.2K
$347.6K – $463.4K
NOI $27,806 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$360.8K
$315.7K – $420.9K
NOI $25,253 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$604.7K
$529.1K – $705.5K
NOI $42,328 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,171
Businesses Nearby
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Business Placement
Demographics for 47408, IN
22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Bloomington, IN
Properties on Market for Duplexes in Bloomington
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a mix of leased and vacant space, with off-street parking and central air conditioning.
Where is this duplex located?
The property is located at 204-206 E 16th Street Bloomington, IN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two‑unit property with 8 bedrooms and 4.5 bathrooms; Larger unit: 5 bedrooms, 2.5 bathrooms; currently leased; Second unit: 3 bedrooms, 2 full bathrooms; currently vacant
