Eight-Bedroom Duplex Near
For Sale
$725,000
403 S Eagleson Avenue, Bloomington, IN 47401
INVESTMENT, One and Half Story, Bloomington, IN
Property Size3,240 SF
Lot Size0.12 Acres
Price / SF$223.77
Days on Market9
Property Features for 403 S Eagleson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Basement
Parking
2
Subdivision
Southeast Bloomington City
Lot features
Irregular
Elementary school
Rogers/Binford
Middle school
Jackson Creek
High school
Bloomington South
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
GPS Friendly
Standard status
Active
APN
53-08-03-204-043.000-009
Size
3,240 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
015-45440-00 Campus Place Lots 28 & 29 PLATS 28A & (29A)
Legal Description
015-45440-00 Campus Place Lots 28 & 29 PLATS 28A & (29A)
Utilities
Cooling system
Central Air
Building Details
Year built
1921
Floors in Building
1
Number of units
2
Flooring type
Wood
Architectural style
Other
Listing Agency:
FC Tucker/Bloomington REALTORS
(812) 336-7300
Listed By:
Jeff Franklin · License #RB14023367
(812) 360-5333
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 22 at 11:06AM
MLS# 202633278
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 contains 3240 square feet on a 0.12-acre lot and includes distinct upper and lower living arrangements. The upper unit offers five bedrooms and 2 1/2 baths, while the lower unit provides three bedrooms and one bath. Wood flooring, central air, and kitchen space are among the documented improvements. The property was built in 1921.
Located at the corner of S Eagleson Avenue and Atwater Avenue in Bloomington, the property is near Indiana University, shops, restaurants, the bookstore, and campus activities. Its eight-bedroom configuration and proximity to campus provide a clear physical profile for residential income use.
Located at the corner of S Eagleson Avenue and Atwater Avenue in Bloomington, the property is near Indiana University, shops, restaurants, the bookstore, and campus activities. Its eight-bedroom configuration and proximity to campus provide a clear physical profile for residential income use.
Key Highlights
- 3240 square feet on a 0.12‑acre lot
- Upper unit with five bedrooms and 2 1/2 baths
- Lower unit with three bedrooms and one 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
$29,118
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
4.02%
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%
$582,360
$582.4K
Cap Rate 7%
$415,971
$416.0K
Cap Rate 9%
$323,533
$323.5K
Market Conditions
NOI Build-Up for 3,240 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
$43.9K $13.56/SF
− Vacancy
−$2.3K −$0.72/SF
EGI
$41.6K $12.84/SF
− OpEx
−$12.5K −$3.85/SF
NOI
$29.1K $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%
$582,360
Cap Rate 7%
$415,971
Cap Rate 9%
$323,533
Alternative Uses
Best Use
Multifamily LT 5
$416.0K
$364.0K – $485.3K
NOI $29,118 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$377.8K
$330.6K – $440.7K
NOI $26,444 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$633.2K
$554.1K – $738.8K
NOI $44,325 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 47401, IN
41,225
Population
21,162
Households
1.9
Avg Household Size
35
Median Age
62%
College-Educated
95%
High-School Grad
82.6 sq mi
ZIP Area
499
Density / Sq Mi
$65,643
Median Household Income
$34,279
Median Earnings
$1,181
Median Rent
$333,100
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?
Duplex - Corner duplex with central air, wood flooring, and separate upper and lower unit configurations near shops, restaurants, and campus activities.
Where is this duplex located?
The property is located at 403 S Eagleson Avenue Bloomington, IN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3240 square feet on a 0.12‑acre lot; Upper unit with five bedrooms and 2 1/2 baths; Lower unit with three bedrooms and one bath
