Duplex with R4
For Sale
$500,000
317 W 14th Street, Bloomington, IN 47404
MULTI_FAMILY - Bloomington, IN
Property Size2,760 SF
Lot Size0.12 Acres
Price / SF$181.16
Days on Market60
Property Features for 317 W 14th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Parking
2
Lot features
Partially Wooded, 0-2.9999
Elementary school
Fairview
Middle school
Tri-North
High school
Bloomington North
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
Corner of N Madison St and W 14th St
Subdivision
Monroe County
Standard status
Active
APN
53-05-33-204-007.000-005
Size
2,760 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
013-15660-00 KENWOOD PT LOT 59
Legal Description
013-15660-00 KENWOOD PT LOT 59
Utilities
Cooling system
Central Air
Amenities
onsite parking
storage shed
Building Details
Year built
1930
Floors in Building
2
Flooring type
Laminate, Wood
Architectural style
Other
Listing Agency:
Century 21 Scheetz - Bloomington · Century 21 Real Estate
(812) 336-2100
Listed By:
Ryne Shadday · License #RB17001264
(812) 727-7963
Added: Jun 13
Changed: Aug 3
Last Checked: Aug 11 at 8:06PM
MLS# 202625449
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 duplex investment is being offered as a package with two addresses: 920 N Madison St and 317 W 14th St, Bloomington, IN 47404. The property features an R4 zoning designation, where duplex use is permitted. Tri-multi/apartment opportunities are conditionally approved in this zone and would need to appear before the BZA.
The 920 N Madison St structure includes a main-level bedroom, kitchen, and full bathroom. The upstairs loft adds an additional 960 square feet along with an additional bedroom and full bathroom. For 317 W 14th St, the interior layout includes four bedrooms, two bathrooms, and a basement.
Both properties are currently not rented. Improvements include central air cooling, laminate and wood flooring, onsite parking, and a storage shed. The property was built in 1930.
The 920 N Madison St structure includes a main-level bedroom, kitchen, and full bathroom. The upstairs loft adds an additional 960 square feet along with an additional bedroom and full bathroom. For 317 W 14th St, the interior layout includes four bedrooms, two bathrooms, and a basement.
Both properties are currently not rented. Improvements include central air cooling, laminate and wood flooring, onsite parking, and a storage shed. The property was built in 1930.
Key Highlights
- R4 zoning with duplex permitted; tri‑multi/apartment uses are conditionally approved and require BZA review
- Offered together: 920 N Madison St and 317 W 14th St
- 920 N Madison St includes a main‑level bedroom, kitchen, and full bathroom; upstairs loft adds 960 square feet plus bedroom and full bath
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
$24,804
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
4.96%
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%
$496,080
$496.1K
Cap Rate 7%
$354,343
$354.3K
Cap Rate 9%
$275,600
$275.6K
Market Conditions
NOI Build-Up for 2,760 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
$37.4K $13.56/SF
− Vacancy
−$2.0K −$0.72/SF
EGI
$35.4K $12.84/SF
− OpEx
−$10.6K −$3.85/SF
NOI
$24.8K $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%
$496,080
Cap Rate 7%
$354,343
Cap Rate 9%
$275,600
Alternative Uses
Best Use
Multifamily LT 5
$354.3K
$310.1K – $413.4K
NOI $24,804 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$321.8K
$281.6K – $375.5K
NOI $22,527 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$539.4K
$472.0K – $629.3K
NOI $37,758 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
993
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?
Duplex - Duplex in R4 zoning with onsite parking and storage shed; both properties currently not rented.
Where is this duplex located?
The property is located at 317 W 14th Street Bloomington, IN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: R4 zoning with duplex permitted; tri‑multi/apartment uses are conditionally approved and require BZA review; Offered together: 920 N Madison St and 317 W 14th St; 920 N Madison St includes a main‑level bedroom, kitchen, and full bathroom; upstairs loft adds 960 square feet plus bedroom and full bath
