Updated Three-Bedroom Residential Income
For Sale
$205,000
3230 E John Hinkle Pl, Bloomington, IN 47408
Three-bedroom, two-bath residence with an open living and dining layout near shopping, campus, and downtown amenities.
Property Size1,075 SF
Price / SF$190.70
Days on Market92
Property Features for 3230 E John Hinkle Pl
General Information
Standard status
Active
Size
1,075 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Year Built
1993
Listing Agency:
Partners Realty Group
Listed By:
Tiffany Walls · License #RB24000466
(812) 606-6442
Source:
Callcriswell
Added: Jul 21
Changed: Oct 13
Last Checked: Oct 19 at 8:48AM
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 Partners Realty Group
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Investment Insights
Based on property information with market context.
This residential income property offers 1,075 square feet with three bedrooms, two full bathrooms, and an open arrangement connecting the living and dining areas. The kitchen includes cabinetry and counter space, while a new exterior was completed for the entire building in 2024. Built in 1993, the property is identified as a condo in the listing remarks.
The property is located at 3230 E John Hinkle Pl in Bloomington, Indiana. Indiana University’s campus is approximately 5 minutes away, and College Mall is within steps of the residence. Downtown Bloomington, public transportation, parks, and grocery stores are also described as nearby, providing access to shopping, dining, entertainment, and everyday services.
The property is located at 3230 E John Hinkle Pl in Bloomington, Indiana. Indiana University’s campus is approximately 5 minutes away, and College Mall is within steps of the residence. Downtown Bloomington, public transportation, parks, and grocery stores are also described as nearby, providing access to shopping, dining, entertainment, and everyday services.
Key Highlights
- 1,075 square feet with 3 bedrooms and 2 full bathrooms
- New exterior for the entire building completed in 2024
- Open living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,774
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,480
$175.5K
Cap Rate 7%
$125,343
$125.3K
Cap Rate 9%
$97,489
$97.5K
Market Conditions
NOI Build-Up for 1,075 SF
Gross rent
$16.9K $15.72/SF
− Vacancy
−$946 −$0.88/SF
EGI
$16.0K $14.84/SF
− OpEx
−$7.2K −$6.68/SF
NOI
$8.8K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,480
Cap Rate 7%
$125,343
Cap Rate 9%
$97,489
Alternative Uses
Best Use
Apartment 5plus
$125.3K
$109.7K – $146.2K
NOI $8,774 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.1K
$183.8K – $245.1K
NOI $14,707 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 47408, IN
22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom, two-bath residence with an open living and dining layout near shopping, campus, and downtown amenities.
Where is this residential income property located?
The property is located at 3230 E John Hinkle Pl Bloomington, IN.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 1,075 square feet with 3 bedrooms and 2 full bathrooms; New exterior for the entire building completed in 2024; Open living and dining areas
