Triplex Near Indiana University
For Sale
Contact for pricing
315 W 17TH ST, Bloomington, IN 47404
Three-unit residential property with laundry hookups, dedicated parking, and proximity to Memorial Stadium and Assembly Hall.
Property Size3,299 SF
Price / SF$166.69
Days on Market120
Property Features for 315 W 17TH ST
General Information
Standard status
Active
Size
3,299 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Amenities
washer/dryer hookups
dedicated parking
Building Details
Year Built
1994
Buildings
1
Stories
2
Units
2
Listing Agency:
FC Tucker/Bloomington, REALTORS
(812) 336-7300
Listed By:
Christopher Cockerham · License #RB14027897
Source:
Crexi
Added: May 4
Changed: Aug 29
Last Checked: Aug 29 at 8:08PM
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.
Built in 1994, this triplex contains 3,299 square feet and includes three residential units. Each unit has hookups ready for a washer and dryer, while dedicated parking adds practical convenience for occupants. Tenants are responsible for electric and gas utilities.
The property is located at 315 W 17th St. in Bloomington, within walking distance of Memorial Stadium and Assembly Hall and near Indiana University athletic facilities. Its proximity to these venues places the building in a setting connected to university athletics and game-day activity.
The property is located at 315 W 17th St. in Bloomington, within walking distance of Memorial Stadium and Assembly Hall and near Indiana University athletic facilities. Its proximity to these venues places the building in a setting connected to university athletics and game-day activity.
Key Highlights
- Three‑unit triplex totaling 3,299 square feet
- Built in 1994
- Washer and dryer hookups in each unit
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
$29,648
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
5.39%
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%
$592,960
$593.0K
Cap Rate 7%
$423,543
$423.5K
Cap Rate 9%
$329,422
$329.4K
Market Conditions
NOI Build-Up for 3,299 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
$44.7K $13.56/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$42.4K $12.84/SF
− OpEx
−$12.7K −$3.85/SF
NOI
$29.6K $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%
$592,960
Cap Rate 7%
$423,543
Cap Rate 9%
$329,422
Alternative Uses
Best Use
Multifamily LT 5
$423.5K
$370.6K – $494.1K
NOI $29,648 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$384.7K
$336.6K – $448.8K
NOI $26,926 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$644.7K
$564.2K – $752.2K
NOI $45,132 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 47404, IN
23,799
Population
12,101
Households
2
Avg Household Size
33
Median Age
43%
College-Educated
95%
High-School Grad
52.6 sq mi
ZIP Area
452
Density / Sq Mi
$54,674
Median Household Income
$36,725
Median Earnings
$1,159
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with laundry hookups, dedicated parking, and proximity to Memorial Stadium and Assembly Hall.
Where is this triplex located?
The property is located at 315 W 17TH ST Bloomington, IN.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 3,299 square feet; Built in 1994; Washer and dryer hookups in each unit
