Fully Occupied Duplex
209 N 2Nd Avenue Evansville, IN 47710
New
209 N 2Nd Avenue, Evansville, IN, 47710
$105,000
For Sale
$105,000
MULTI_FAMILY - Evansville, IN
Property Size966 SF
Lot Size0.06 Acres
Price / SF$108.70
Days on Market5
Property Features for 209 N 2Nd Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 1, Bedroom 2
- Standard status
- Active
- APN
- 82-06-19-029-060.015-029
- Size
- 966 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- JACOB LUNKENHEIMERS SUB PT LOTS 17 & 18 BLK 80 LAMASCO
- Tax Annual Amount
- 585
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1894
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Vinyl
- Architectural style
- Other
Listing Agency
KELLER WILLIAMS CAPITAL REALTY
(812) 422-4096
4424 Vogel Rd Suite 300, IN
Listed by
Stacey Carpenter · License #RB17001505
(812) 453-2096
Added: Jul 13 Checked: Jul 17 at 1:06 pm
MLS# 202627974
Copyright © 2026 Southwest Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a fully occupied duplex investment. Both units are currently on Section 8. The owner pays water, while tenants pay all other utilities.
The property is located at 209 N 2nd Avenue in Evansville, Indiana, in Vanderburgh County. The lot size is 0.06 acres, and the property size is listed as 966 square feet.
As presented, the duplex provides two income-producing units with utilities split between the owner and tenants as described in the remarks.
The property is located at 209 N 2nd Avenue in Evansville, Indiana, in Vanderburgh County. The lot size is 0.06 acres, and the property size is listed as 966 square feet.
As presented, the duplex provides two income-producing units with utilities split between the owner and tenants as described in the remarks.
Key Highlights
- Fully occupied duplex with both units currently on Section 8
- Owner pays water; tenants pay all other utilities
- Central air cooling
Local 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 | $13.3k | $13.80 |
| − Vacancy | −$735 | −$0.76 |
| EGI | $12.6k | $13.04 |
| − OpEx | −$3.8k | −$3.91 |
| NOI | $8.8k | $9.13 |
966 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$126.0K
$110.2K – $147.0K
NOI $8,817 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$115.8K
$101.4K – $135.1K
NOI $8,108 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$239.8K
$209.8K – $279.8K
NOI $16,787 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Fully occupied duplex with both units currently participating in Section 8, with the owner paying water.
Where is this duplex located?
The property is located at 209 N 2Nd Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $105,000.
What are key features of this property?
This property features: Fully occupied duplex with both units currently on Section 8; Owner pays water; tenants pay all other utilities; Central air cooling
