4501 + 4503 E Stephens Drive, Bloomington, IN 47408
Ranch, Duplex - Bloomington, IN
- Added:
- Apr 29, 2026
- Days on Market:
- 60
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 4501 + 4503 E Stephens Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Laundry
- Parking features
- Garage, Garage - Attached, Off Street
- EntryLevel
- Main
- Exterior features
- Cable Available, Cable Ready, Countertops-laminate, Water Heater Gas, None
- Appliances
- Garbage Disposer, Range
- Standard status
- Active
- APN
- 53-05-36-202-005.000-005
- Size
- 1,352 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Expense value
- 1392
- Expense
- Other
Utilities
- Heating system
- Wall Furnace
Building Details
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Vinyl
- Roof type
- Asphalt
- Architectural style
- Ranch
Listing agent Melissa Murphy License #RB14039392 (812) 327-6162
Listing office Century 21 Scheetz - Bloomington 1155 S College Mall Rd, Carmel, IN (812) 336-2100
Listing date Apr 29, 2026
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
- HAND rental occupancy permit for six occupants, valid through July 10, 2029.
- Duplex in a sought‑after Eastside location near IU Health hospital, Indiana University, shopping, and restaurants.
- Multiple income/living options: rent both, live in one and rent the other, or Airbnb.
- Each unit is a spacious one‑bedroom floorplan of nearly 700 square feet.
- New roof and gutters installed in 2025 and new garage door.
- Unit 4501 has an attached one‑car garage.
Overview
The property is located on Bloomington’s Eastside, described as being near IU Health, Indiana University, IU sporting events, shopping, and restaurants. Unit 4503 is on a month-to-month lease beginning June 1, 2026 and would consider renewing.
For tenants and owners, the configuration supports a variety of operating choices, including living in one side while renting the other or renting both units to long-term tenants, consistent with the existing occupancy permit. Management is currently handled by Action Property Management, with mowing and trimming provided by the management team. Tenants pay all utilities and handle their own snow removal. Please allow a minimum of 24 hours’ notice for showings, as tenants reside on both sides.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.3k | $13.56 |
| − Vacancy | −$975 | −$0.72 |
| EGI | $17.4k | $12.84 |
| − OpEx | −$5.2k | −$3.85 |
| NOI | $12.2k | $8.99 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.477035
- Latitude
- 39.175668
