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    Bloomington Duplex: Investment Opportunity Title is generated by Realmo AI

    3429 & 3431 S Kennedy Drive, Bloomington, IN 47401

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    For Sale
    $424,900

    Duplex, Other - Bloomington, IN

    Type:Duplex
    Property size:
    2,592 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $163/SF
    Added:
    May 11, 2026
    Days on Market:
    2
    Last Refresh:
    May 12 at 2:06 am

    Property Features for 3429 & 3431 S Kennedy Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    Residential Multifamily
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
    Parking features
    Garage, Garage - Attached, Other
    Patio and Porch features
    Deck
    EntryLevel
    Main
    Exterior features
    Ceiling Fan, Off Street Parking, Cable Available, Closet(s) Walk-in, Countertops-laminate, Deck Open, Detector-smoke, Garage Door Opener, Water Heater Electric, None
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Washer
    Standard status
    Active
    APN
    53-08-16-301-010.000-009
    Size
    2,592 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Vinyl
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Ron Plecher
    Ron Plecher

    Listing agent Ron Plecher License #RB14033205

    Listing office Realty Professionals 328 S. Walnut St., Ste. 6, Bloomington, IN

    Listing date May 11, 2026

    MLS# 202617642 Listing URL

    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.

    HighLights

    • High net rental income potential with both units currently renting for $1,675 per month each.
    • Excellent location on the south side of Bloomington, convenient to shopping, I‑69, and downtown.
    • Each unit features 3 bedrooms (2 with walk‑in closets) and 2 full bathrooms.
    • Each unit has a one‑car attached garage and a spacious back deck.
    • Tenants pay all utilities, increasing net income for the owner.
    • Recent improvements include a new furnace (2026) in one unit and new Luxury Vinyl Plank flooring.

    Overview

    This well-maintained duplex presents an investment opportunity with a history of rental income. Located on the south side of Bloomington, the property is conveniently located near shopping areas, I-69, and downtown. Both units are currently rented, each for $1,675 per month. Unit 3429 is leased until 7/26/27, while unit 3431 operates on a month-to-month basis. Tenants are responsible for all utilities. Each unit features a main level with a living room, a fully equipped kitchen including a pantry, a laundry closet, a dining room, and a full bathroom. The upper level of each unit includes three bedrooms, two of which have walk-in closets, and a full bathroom with a tub/shower combination. Each unit also has a one-car attached garage and a spacious back deck, complemented by a nice-sized yard. The property spans 2592 square feet on a 0.22-acre lot. Recent improvements to unit 3429 include a new furnace (2026), and Luxury Vinyl Plank flooring has replaced the carpeting. The current management company handles lawn maintenance. The property is zoned for residential multifamily use. Consider living in one unit and leasing the other, or leasing both for a return on investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5282095
    Latitude
    39.1251174

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with strong rental history near shopping and downtown.
    Where is this duplex located?
    The property is located at 3429 & 3431 S Kennedy Drive Bloomington, IN.
    What is the asking price?
    The asking price for this property is $424,900.
    What are key features of this property?
    This property features: High net rental income potential with both units currently renting for $1,675 per month each.; Excellent location on the south side of Bloomington, convenient to shopping, I‑69, and downtown.; Each unit features 3 bedrooms (2 with walk‑in closets) and 2 full bathrooms.
    (812) 323-1231
    We can help!
    Listing Contact
    Ron Plecher
    Ron Plecher
    Real Estate License ID: RB14033205
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    3429 & 3431 S Kennedy Drive, Bloomington, IN 47401-8470
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