Two-Unit Brick
For Sale
$279,900
208 N Smith Road, Bloomington, IN 47408
Separate residences offer off-street parking, private outdoor space, and flexible living arrangements.
Property Size2,424 SF
Price / SF$115.47
Days on Market48
Property Features for 208 N Smith Road
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1968
Buildings
1
Construction
brick and limestone
Listing Agency:
RE/MAX Realty One
(765) 454-7300
Listed By:
Carson and Lisa Lowry Real Estate
(812) 305-4663
Source:
Carsonlowryrealestate
Added: Sep 4
Changed: Oct 21
Last Checked: Oct 20 at 8:22PM
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 RE/MAX Realty One
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Investment Insights
Based on property information with market context.
This 1968 duplex contains 2424 square feet and is constructed with brick and limestone. The property includes two separate two-bedroom residences. Unit A has one full bathroom and a carport. Unit B includes one full bathroom, one half bath, a partial basement, and a one-car garage positioned at the basement level.
The backyard provides additional outdoor space, while the property’s Bloomington location offers access to shopping, dining, local amenities, bus service, and Indiana University. Located at 208 N Smith Road, the duplex combines distinct unit layouts with multiple on-site parking features.
The backyard provides additional outdoor space, while the property’s Bloomington location offers access to shopping, dining, local amenities, bus service, and Indiana University. Located at 208 N Smith Road, the duplex combines distinct unit layouts with multiple on-site parking features.
Key Highlights
- Two‑bedroom duplex with separate living spaces
- 2424 square feet, built in 1968
- Unit A includes 2 bedrooms, 1 full bathroom, and a carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,785
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,700
$435.7K
Cap Rate 7%
$311,214
$311.2K
Cap Rate 9%
$242,056
$242.1K
Market Conditions
NOI Build-Up for 2,424 SF
Gross rent
$32.9K $13.56/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$31.1K $12.84/SF
− OpEx
−$9.3K −$3.85/SF
NOI
$21.8K $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%
$435,700
Cap Rate 7%
$311,214
Cap Rate 9%
$242,056
Alternative Uses
Best Use
Multifamily LT 5
$311.2K
$272.3K – $363.1K
NOI $21,785 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$282.6K
$247.3K – $329.7K
NOI $19,784 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$473.7K
$414.5K – $552.7K
NOI $33,162 @ 7.0% cap · market cap 11.85%
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
419
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer off-street parking, private outdoor space, and flexible living arrangements.
Where is this duplex located?
The property is located at 208 N Smith Road Bloomington, IN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑bedroom duplex with separate living spaces; 2424 square feet, built in 1968; Unit A includes 2 bedrooms, 1 full bathroom, and a carport
