Section 8 Duplex
209 North 2nd Avenue Evansville, IN 47710
209 North 2nd Avenue, Evansville, IN, 47710
$105,000
For Sale
$105,000
Fully occupied duplex with both units currently under Section 8 and the owner paying water.
Property Size966 SF
Price / SF$108.70
Days on Market12
Property Features for 209 North 2nd Avenue
General Information
- Standard status
- Active
- Size
- 966 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1894
Listing agency
KELLER WILLIAMS CAPITAL REALTY
(812) 422-4096
Listed by
Stacey Carpenter · License #RB17001505
(812) 422-4096
Source
Compass
Added: Jul 10 Updated: Jul 21 at 6:26AM Checked: Jul 21 at 6:26AM
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 fully occupied duplex offers an investor-focused residential income setup, with both units currently participating in Section 8. The owner pays for water, while tenants are responsible for all other utilities.
The property is located at 209 North 2nd Avenue in Evansville, Indiana, and is presented as a For Sale investment opportunity.
Because the duplex is already occupied, it may offer immediate income continuity for an investor seeking a staffed residential rental profile with clearly stated utility responsibilities.
The property is located at 209 North 2nd Avenue in Evansville, Indiana, and is presented as a For Sale investment opportunity.
Because the duplex is already occupied, it may offer immediate income continuity for an investor seeking a staffed residential rental profile with clearly stated utility responsibilities.
Key Highlights
- Fully occupied 2‑unit duplex with both units currently on Section 8
- Owner‑paid water; tenants pay all other utilities
- 2‑story duplex built in 1894
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 under Section 8 and the owner paying water.
Where is this duplex located?
The property is located at 209 North 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 2‑unit duplex with both units currently on Section 8; Owner‑paid water; tenants pay all other utilities; 2‑story duplex built in 1894
