3-Unit Residential
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For Sale
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217 Taylor Street, Boonville, IN 47601
Each residence combines a three-bedroom layout with an attached garage.
Property Size4,299 SF
Lot Size0.28 Acres
Price / SF$162.81
Days on Market5
Property Features for 217 Taylor Street
General Information
Standard status
Active
Size
4,299 SF
Total Parking Spaces
3
Lot size
0.28 Acres
Property subtype
Multifamily
Units
Unit Mix
3 x 3BR/2.5BA
Multifamily Units
3
Additional Details
Cap Rate
7.5%
Building Details
Year Built
2026
Listing Agency:
RWA Properties
Listed By:
Stephen Barton · License #RB14052302
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:53PM
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 RWA Properties
Investment Insights
Based on property information with market context.
Completed in 2026, this residential property contains three matching units. Each offers three bedrooms, 2.5 baths, and a one-car attached garage. The building totals 4,299 square feet on a 12,000-square-foot lot.
At 217 Taylor Street in Boonville, Indiana, the property has a 7.5% cap rate and an 11.3% cash-on-cash return.
At 217 Taylor Street in Boonville, Indiana, the property has a 7.5% cap rate and an 11.3% cash-on-cash return.
Key Highlights
- Three matching residences, each with 3 bedrooms and 2.5 baths
- One‑car attached garage for each unit
- 4,299 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,963
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$439,260
$439.3K
Cap Rate 7%
$313,757
$313.8K
Cap Rate 9%
$244,033
$244.0K
Market Conditions
NOI Build-Up for 4,299 SF
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.
Gross rent
$42.3K $9.84/SF
− Vacancy
−$2.4K −$0.55/SF
EGI
$39.9K $9.29/SF
− OpEx
−$18.0K −$4.18/SF
NOI
$22.0K $5.11/SF
Area
Warrick County, IN
Vacancy
5.60%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$439,260
Cap Rate 7%
$313,757
Cap Rate 9%
$244,033
Alternative Uses
Best Use
Apartment 5plus
$313.8K
$274.5K – $366.1K
NOI $21,963 @ 7.0% cap · market cap 3.14%
Second Best
Multifamily LT 5
$294.9K
$258.1K – $344.1K
NOI $20,644 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$850.6K
$744.3K – $992.4K
NOI $59,542 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
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Business Placement
Demographics for 47601, IN
14,088
Population
5,803
Households
2.4
Avg Household Size
43
Median Age
24%
College-Educated
94%
High-School Grad
127.3 sq mi
ZIP Area
111
Density / Sq Mi
$77,411
Median Household Income
$46,517
Median Earnings
$843
Median Rent
$184,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence combines a three-bedroom layout with an attached garage.
Where is this triplex located?
The property is located at 217 Taylor Street Boonville, IN.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three matching residences, each with 3 bedrooms and 2.5 baths; One‑car attached garage for each unit; 4,299 square feet of building area
