Duplex with Separate In-Law Suite
For Sale
$355,000
2708 S Rogers Street, Bloomington, IN 47403
MULTI_FAMILY - Bloomington, IN
Property Size2,600 SF
Lot Size0.21 Acres
Price / SF$136.54
Days on Market551
Property Features for 2708 S Rogers Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 3, Basement, Bedroom 4, Bedroom 2
Parking
5
Parking features
Off Street
Lot features
Irregular
Elementary school
Summit
Middle school
Batchelor
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 Country Club Dr. headed west, turn right onto Rogers St. at stop light. House is second house on your left.
Subdivision
Monroe County
Standard status
Active
APN
53-08-08-406-006.000-009
Size
2,600 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
015-13340-04 JOHN WALKER LOT 4
Tax Annual Amount
1700
Legal Description
015-13340-04 JOHN WALKER LOT 4
Utilities
Cooling system
Central Air
Building Details
Year built
1899
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Laminate
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Stolberg Realty Group
(812) 360-4300
Listed By:
Aaron Stolberg · License #RB14042222
(812) 360-4300
Added: Feb 6, 2025
Changed: Aug 4
Last Checked: Aug 11 at 6:06PM
MLS# 202503842
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.
Duplex layout featuring a main level with an open living room, dining room, and kitchen, three bedrooms, 1.5 bathrooms, and an office/bonus room. The upstairs includes its own entrance and offers a large living area, kitchenette, full bathroom, and spacious bedroom, with flexibility to connect through a common doorway or keep it locked off.
The home sits on a 0.21-acre lot and includes 2,600 SF of living space. A recently renovated unfinished basement has been fully encapsulated to be 100% waterproof, and the encapsulation carries a 10 and 15 year warranty. Built in 1899 with an asphalt roof, interior finishes include ceramic tile, carpet, and laminate. Central air is included, along with off-street parking.
Operationally, the property currently has a 3 person occupancy permit. There are conversations with HAND about obtaining a separate occupancy permit for the upstairs unit, which could allow two rental units within the home. Walkable access includes the B-Line Trail and Switchyard park, with shopping and restaurants nearby.
The home sits on a 0.21-acre lot and includes 2,600 SF of living space. A recently renovated unfinished basement has been fully encapsulated to be 100% waterproof, and the encapsulation carries a 10 and 15 year warranty. Built in 1899 with an asphalt roof, interior finishes include ceramic tile, carpet, and laminate. Central air is included, along with off-street parking.
Operationally, the property currently has a 3 person occupancy permit. There are conversations with HAND about obtaining a separate occupancy permit for the upstairs unit, which could allow two rental units within the home. Walkable access includes the B-Line Trail and Switchyard park, with shopping and restaurants nearby.
Key Highlights
- Upstairs in‑law suite with separate entrance, kitchenette, full bathroom, and spacious bedroom
- Main level with open living, dining, and kitchen plus three bedrooms and 1.5 bathrooms
- Fully encapsulated basement designed to be 100% waterproof with 10 and 15 year warranty
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
$23,366
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
6.58%
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%
$467,320
$467.3K
Cap Rate 7%
$333,800
$333.8K
Cap Rate 9%
$259,622
$259.6K
Market Conditions
NOI Build-Up for 2,600 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
$35.3K $13.56/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$33.4K $12.84/SF
− OpEx
−$10.0K −$3.85/SF
NOI
$23.4K $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 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%
$467,320
Cap Rate 7%
$333,800
Cap Rate 9%
$259,622
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,221 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with an upstairs in-law suite with separate entrance, central air, and off-street parking.
Where is this duplex located?
The property is located at 2708 S Rogers Street Bloomington, IN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Upstairs in‑law suite with separate entrance, kitchenette, full bathroom, and spacious bedroom; Main level with open living, dining, and kitchen plus three bedrooms and 1.5 bathrooms; Fully encapsulated basement designed to be 100% waterproof with 10 and 15 year warranty
