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    Detached Farmhouse with Morton Building Title is generated by Realmo AI

    20501 State Road 45, Tell City, IN 47586

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    Claim this Listing
    New
    For Sale
    $199,000

    Farm / Farmhouse, House (Detached) - Tell City, IN

    Type:Farm
    Property size:
    1,729 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $115/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 20501 State Road 45

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Dining Room, Family Room, Kitchen, Living Room
    Parking features
    Garage, Garage - Detached
    Basement Y/N
    1
    Appliances
    Refrigerator
    Standard status
    Active
    Size
    1,729 SF
    Lot size
    1.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Flooring type
    Hardwood
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Darryl Irvin

    Listing agent Darryl Irvin

    Listing office Hollinden Realty Inc. 621 B Main Street, Tell City, IN

    Listing date Jun 1, 2026

    MLS# 11798832 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.2‑acre country home near Bristow on Highway 145
    • 3‑bedroom upstairs plus additional bedrooms and bathrooms downstairs; includes basement
    • Kitchen with well‑made wooden cabinets; hardwood flooring; vinyl siding exterior
    • Heating includes forced air and propane (heating); central air cooling
    • Detached 36' x 64' Morton building with insulated concrete floor and 16' doors on both ends
    • Concrete porches on the north and west sides; garage parking available

    Overview

    This detached country home offers a substantial main living layout with a large kitchen featuring well-made wooden cabinets. Downstairs includes one or two bedrooms and a full bath, along with a large family room or game room that can serve as flexible everyday space. Upstairs has three additional bedrooms that need refinishing and a half bath, giving buyers room to update and personalize. Concrete porches on the north and west sides add practical outdoor areas.

    The property is positioned near Bristow on Highway 145 in Tell City, Indiana, providing straightforward road access. The home and the outbuilding sit together on 1.2 acres, giving room for storage, hobbies, or light farm-related uses.

    A strong fit for buyers seeking more than just a house, this setup pairs residential space with a very large Morton Building measuring 36' by 64'. The building includes large 16-foot doors on both ends, an insulated interior, and a concrete floor designed for easy parking of boats, equipment, or other vehicles. The combination of indoor living space, covered porches, and substantial storage makes it well-suited for multi-purpose ownership.
    Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Tell City
    County
    Perry
    State
    Indiana
    Longitude
    -86.720688
    Latitude
    38.13814

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    FAQs

    What type of property is this?
    Single family property - Spacious country home with a large insulated Morton building built for equipment and vehicle parking on 1.2 acres.
    Where is this single family property located?
    The property is located at 20501 State Road 45 Tell City, IN.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: 1.2‑acre country home near Bristow on Highway 145; 3‑bedroom upstairs plus additional bedrooms and bathrooms downstairs; includes basement; Kitchen with well‑made wooden cabinets; hardwood flooring; vinyl siding exterior
    (812) 843-5833
    We can help!
    Listing Contact
    Darryl Irvin
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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