Three-Unit Residential Income
For Sale
$410,000
311-321 South Muller Parkway, Bloomington, IN 47403
Three single-family homes on one lot, including two renovated units and one currently tenant-occupied unit.
Property Size2,664 SF
Price / SF$153.90
Days on Market141
Property Features for 311-321 South Muller Parkway
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Multi Family / Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1952
Listing Agency:
FC Tucker/Bloomington REALTORS
(812) 320-2394
Listed By:
Brian Thompson · License #RB14030854
Source:
Compass
Added: Mar 17
Changed: Jul 23
Last Checked: Aug 4 at 11:50AM
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 FC Tucker/Bloomington REALTORS
Investment Insights
Based on property information with market context.
This property consists of three single-family homes on one lot. Unit 311 offers 4 bedrooms and 2 full bathrooms. Units 317 and 321 each provide 2 bedrooms and 1 full bathroom.
Per the information provided, Units 311 and 321 have been renovated, and the online photos reflect those renovated units. Unit 317 has not been renovated and is currently occupied by a longer-term tenant.
With separate 3-unit configuration under one ownership, the property presents a straightforward residential income setup with a mix of renovated and non-renovated units based on the details available.
Per the information provided, Units 311 and 321 have been renovated, and the online photos reflect those renovated units. Unit 317 has not been renovated and is currently occupied by a longer-term tenant.
With separate 3-unit configuration under one ownership, the property presents a straightforward residential income setup with a mix of renovated and non-renovated units based on the details available.
Key Highlights
- Three single‑family homes on one lot (311, 317, and 321)
- Unit 311: 4 bedrooms and 2 full baths; both renovated (per online photos)
- Units 317 and 321: each has 2 bedrooms and 1 full bath; Unit 321 renovated (per online photos)
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 | $36.1k | $13.56 |
| − Vacancy | −$1.9k | −$0.72 |
| EGI | $34.2k | $12.84 |
| − OpEx | −$10.3k | −$3.85 |
| NOI | $23.9k | $8.99 |
2,664 SF · lease $13.56/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$342.0K
$299.3K – $399.0K
NOI $23,941 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$310.6K
$271.8K – $362.4K
NOI $21,743 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$520.6K
$455.6K – $607.4K
NOI $36,445 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
494
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?
Triplex - Three single-family homes on one lot, including two renovated units and one currently tenant-occupied unit.
Where is this triplex located?
The property is located at 311-321 South Muller Parkway Bloomington, IN.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Three single‑family homes on one lot (311, 317, and 321); Unit 311: 4 bedrooms and 2 full baths; both renovated (per online photos); Units 317 and 321: each has 2 bedrooms and 1 full bath; Unit 321 renovated (per online photos)
