End-Unit Residential Income
For Sale
$225,000
Pending
2346 E Winding Brook Circle, Bloomington, IN 47401
INVESTMENT, Condo, Bloomington, IN
Property Size2,200 SF
Lot Size0.04 Acres
Days on Market10
Property Features for 2346 E Winding Brook Circle
General Information
Property type
Residential Multi Family
Property subtype
Condominium
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
3
Basement
Concrete
Subdivision
The Woodlands
Lot features
Irregular
Elementary school
Childs
Middle school
Jackson Creek
High school
Bloomington South
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
From Childs School--South to the roundabout. Do a 3/4 turn. Go to top of the hill and turn left into the Woodlands. This unit is straight ahead.
Standard status
Pending
APN
53-08-10-407-029.000-009
Size
2,200 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE WOODLANDS PH 2 LOT 7A-1
HOA Fee
$485 Monthly
Legal Description
THE WOODLANDS PH 2 LOT 7A-1
Utilities
Cooling system
Central Air, Heat Pump
Amenities
balcony
patio
garden
fireplace
Building Details
Year built
1983
Number of units
1
Flooring type
Vinyl, Carpet
Architectural style
Other
Listing Agency:
RE/MAX Acclaimed Properties · RE/MAX International
(812) 332-3001
Listed By:
Russell McCormack · License #RB20001470
(812) 837-7877
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 28 at 10:06AM
MLS# 202633854
Copyright © 2026 Indiana Uplands Realtor® Association. 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 end-unit residential income property in The Woodlands contains 2,200 square feet across a multi-level layout with a living room, dining area, kitchen, breakfast nook, bedrooms, and three bathrooms. The upper level includes a primary suite with a fireplace, private deck, soaking tub, and walk-in shower. A detached one-car garage provides additional storage or parking, while two balconies, a private patio, and a fenced garden expand the usable outdoor areas. Vinyl and carpet flooring are installed, and the property includes central air and heat pump cooling. A new HVAC system was installed in 2024.
The property is located directly behind Childs School in Bloomington, with mature trees and wooded views surrounding the residence. It is leased through August 2026 and includes a 0.04-acre lot. Built in 1983, the condominium offers a low-maintenance residential configuration with established outdoor improvements and a private setting.
The property is located directly behind Childs School in Bloomington, with mature trees and wooded views surrounding the residence. It is leased through August 2026 and includes a 0.04-acre lot. Built in 1983, the condominium offers a low-maintenance residential configuration with established outdoor improvements and a private setting.
Key Highlights
- Leased through August 2026
- 2,200 square feet on a 0.04‑acre lot
- End‑unit layout in The Woodlands, directly behind Childs School
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
$17,956
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
7.98%
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%
$359,120
$359.1K
Cap Rate 7%
$256,514
$256.5K
Cap Rate 9%
$199,511
$199.5K
Market Conditions
NOI Build-Up for 2,200 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
$34.6K $15.72/SF
− Vacancy
−$1.9K −$0.88/SF
EGI
$32.6K $14.84/SF
− OpEx
−$14.7K −$6.68/SF
NOI
$18.0K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /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%
$359,120
Cap Rate 7%
$256,514
Cap Rate 9%
$199,511
Alternative Uses
Best Use
Apartment 5plus
$256.5K
$224.5K – $299.3K
NOI $17,956 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$430.0K
$376.2K – $501.6K
NOI $30,097 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 47401, IN
41,225
Population
21,162
Households
1.9
Avg Household Size
35
Median Age
62%
College-Educated
95%
High-School Grad
82.6 sq mi
ZIP Area
499
Density / Sq Mi
$65,643
Median Household Income
$34,279
Median Earnings
$1,181
Median Rent
$333,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Leased through August 2026 with a detached garage, multiple outdoor areas, and a private wooded setting near Childs School.
Where is this residential income property located?
The property is located at 2346 E Winding Brook Circle Bloomington, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Leased through August 2026; 2,200 square feet on a 0.04‑acre lot; End‑unit layout in The Woodlands, directly behind Childs School
