Well-Maintained Duplex With Two
517 E 7th Street New Albany, IN 47150
For Sale
$179,000
Duplex offers two income-producing units with month-to-month occupancy and interior updates including new furnace and roof.
Property Size1,593 SF
Price / SF$112.37
Days on Market1583
Property Features for 517 E 7th Street
General Information
- Standard status
- Active
- Size
- 1,593 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1929
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Zachary Robbins · License #RB21002146
(888) 611-3912
Source:
Xome
Added: Mar 25, 2022
Changed: Jul 22
Last Checked: Jul 23 at 4:02AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex includes a 2-bedroom, 1.5-bath main level unit and a separate studio 1-bedroom, 1-bath upstairs unit accessed from the rear of the house. Original hardwood floors are featured throughout both units. Recent upgrades include a new furnace, a roof on the studio, flooring in the main level bedroom, new decking, and fresh paint throughout the main floor.
Both units are currently occupied on month-to-month leases. Unit A is earning $1,250 per month and Unit B is earning $425 per month. Inspections are welcome, and the property is being sold as-is.
The layout provides two distinct living areas under one roof, with the upstairs unit reachable via rear access. The home has received multiple interior and exterior improvements intended to support day-to-day condition and continued rental use.
Both units are currently occupied on month-to-month leases. Unit A is earning $1,250 per month and Unit B is earning $425 per month. Inspections are welcome, and the property is being sold as-is.
The layout provides two distinct living areas under one roof, with the upstairs unit reachable via rear access. The home has received multiple interior and exterior improvements intended to support day-to-day condition and continued rental use.
Key Highlights
- Duplex at 517 East 7th St with 3 occupied units total: 2bd/1.5b main level and 1bd/1b upstairs studio
- Both units are on month‑to‑month leases: Unit A at $1,250/month and Unit B at $425/month
- Interior features include ceiling fan(s) and original hardwood floors throughout both units
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 | $19.3k | $12.12 |
| − Vacancy | −$1.4k | −$0.88 |
| EGI | $17.9k | $11.24 |
| − OpEx | −$5.4k | −$3.37 |
| NOI | $12.5k | $7.86 |
1,593 SF · lease $12.12/SF/yr · vacancy 7.30% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$179.0K
$156.6K – $208.8K
NOI $12,528 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$161.2K
$141.0K – $188.0K
NOI $11,281 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.34M
NOI $80,600 @ 7.0% cap · market cap 45.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offers two income-producing units with month-to-month occupancy and interior updates including new furnace and roof.
Where is this duplex located?
The property is located at 517 E 7th Street New Albany, IN.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Duplex at 517 East 7th St with 3 occupied units total: 2bd/1.5b main level and 1bd/1b upstairs studio; Both units are on month‑to‑month leases: Unit A at $1,250/month and Unit B at $425/month; Interior features include ceiling fan(s) and original hardwood floors throughout both units
