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    Duplex Income Property Title is generated by Realmo AI

    467 S Monfort Street, Greensburg, IN 47240

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    For Sale
    $144,920

    Bungalow, Duplex - Greensburg, IN

    Type:Duplex
    Lot size:
    0.15 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 467 S Monfort Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Parking features
    On Street
    Exterior features
    Barn Mini
    Standard status
    Active
    APN
    161111130091000016
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1940
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Bungalow
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Michael Sefton

    Listing agent Michael Sefton License #RB14040531

    Listing office RE/MAX Tower N. Broadway St., Greensburg, IN

    Listing date Jun 3, 2026

    MLS# 22106030 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex in Greensburg with 2 separate rental units (north and south) built in 1940.
    • North unit: 1 bed, 1 full bath, kitchen, and living room; includes range and refrigerator.
    • South unit: 2 beds, 1 full bath, kitchen, living room, and dedicated laundry room; includes washer and dryer plus range and refrigerator.
    • Cooling includes window unit(s); exterior offers shared front porch, rear wooden deck, and a mini barn for additional storage.
    • Vinyl siding exterior, shingle roof, electric heating; parking via on‑street.

    Overview

    This duplex includes two separate rental units, each with a kitchen and living room. The north unit features one bedroom and one full bathroom, along with a range and refrigerator. The south unit offers two bedrooms and one full bathroom, plus a dedicated laundry room. In addition to a range and refrigerator, the south unit includes a washer and dryer, and cooling is provided by a window air conditioning unit.

    The property is located in Greensburg, within walking distance of downtown Greensburg and nearby shopping, convenience stores, restaurants, and everyday amenities.

    For buyers seeking a residential income property with two units under one ownership, this configuration offers flexible occupancy options. The shared front porch and rear wooden deck provide outdoor space for both tenants, and the mini barn adds additional storage. Each unit’s in-unit kitchen and included major appliances support straightforward tenant move-in, while the south unit’s dedicated laundry area and washer and dryer add convenience.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensburg
    County
    Decatur
    State
    Indiana
    Longitude
    -85.487415
    Latitude
    39.332264

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    FAQs

    What type of property is this?
    Duplex - Two rental units with separate layouts, shared porch, and outdoor deck plus storage provided by a mini barn.
    Where is this duplex located?
    The property is located at 467 S Monfort Street Greensburg, IN.
    What is the asking price?
    The asking price for this property is $144,920.
    What are key features of this property?
    This property features: Duplex in Greensburg with 2 separate rental units (north and south) built in 1940.; North unit: 1 bed, 1 full bath, kitchen, and living room; includes range and refrigerator.; South unit: 2 beds, 1 full bath, kitchen, living room, and dedicated laundry room; includes washer and dryer plus range and refrigerator.
    (812) 614-1065
    We can help!
    Listing Contact
    Michael Sefton
    Real Estate License ID: RB14040531
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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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