Brick Ranch-Style
301-307 Negley Ave, Evansville, IN 47711
For Sale
$179,900
Fully occupied four-unit property with separate electric and gas meters, replacement windows, and on-site parking.
Property Size1,925 SF
Price / SF$93.45
Days on Market53
Property Features for 301-307 Negley Ave
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Asking Price
Gross Income
Site & Location
Neighborhood
Utilities to Site
Additional Details
Multifamily Units
Amenities
covered porch
Building Details
Year Built
Buildings
Construction
Listing Agency:
Berkshire Hathaway HomeServices Indiana Realty
Listed By:
Jenna Hancock-Wargel
(812) 568-4774
Source:
Kmsrealestategroup
Added: Sep 20
Changed: Oct 26
Last Checked: Oct 7 at 2:13PM
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 Berkshire Hathaway HomeServices Indiana Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,925-square-foot ranch-style fourplex contains four occupied units within a brick building constructed in 1967. The property includes a covered porch, corner-lot parking, replacement windows, and a roof replaced in 2012. Interior updates include LVP flooring in units 303 and 305, newer carpeting, and updated vanities and toilets in three units. A 2025 furnace serves the property.
Located at 301-307 Negley Ave in Evansville’s Northside, the building has four separate CenterPoint electric and gas meters. Tenants pay their own electric and gas, while water, trash, and sewer are shared across the property. The asset is currently fully occupied, with a reported cap rate ranging from 8.02% to 9.35% depending on management structure.
Located at 301-307 Negley Ave in Evansville’s Northside, the building has four separate CenterPoint electric and gas meters. Tenants pay their own electric and gas, while water, trash, and sewer are shared across the property. The asset is currently fully occupied, with a reported cap rate ranging from 8.02% to 9.35% depending on management structure.
Key Highlights
- Four‑unit brick property at 1,925 SF
- Fully occupied with all four units rented
- Four separate CenterPoint electric and gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,157
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,140
$323.1K
Cap Rate 7%
$230,814
$230.8K
Cap Rate 9%
$179,522
$179.5K
Market Conditions
NOI Build-Up for 1,925 SF
Gross rent
$31.2K $16.20/SF
− Vacancy
−$1.8K −$0.94/SF
EGI
$29.4K $15.26/SF
− OpEx
−$13.2K −$6.87/SF
NOI
$16.2K $8.39/SF
Area
Evansville, IN
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,140
Cap Rate 7%
$230,814
Cap Rate 9%
$179,522
Alternative Uses
Best Use
Multifamily LT 5
$251.0K
$219.6K – $292.9K
NOI $17,571 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$230.8K
$202.0K – $269.3K
NOI $16,157 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$477.9K
$418.2K – $557.5K
NOI $33,452 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 47711, IN
31,266
Population
14,487
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
91%
High-School Grad
16.5 sq mi
ZIP Area
1,895
Density / Sq Mi
$65,398
Median Household Income
$39,114
Median Earnings
$982
Median Rent
$156,200
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Evansville, IN
Properties on Market for Quadplexes in Evansville
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with separate electric and gas meters, replacement windows, and on-site parking.
Where is this quadplex located?
The property is located at 301-307 Negley Ave Evansville, IN.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Four‑unit brick property at 1,925 SF; Fully occupied with all four units rented; Four separate CenterPoint electric and gas meters
