Duplex Near
For Sale
$575,000
526 S Woodlawn Ave, Bloomington, IN 47401
Two permitted rental units include a three-bedroom layout and a studio.
Property Size2,384 SF
Price / SF$241.19
Days on Market47
Property Features for 526 S Woodlawn Ave
General Information
Standard status
Active
Size
2,384 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x studio
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
Century 21 Scheetz - Bloomington
(812) 322-1871
Listed By:
Chris Clark · License #RB14050458
Source:
Callcriswell
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 30 at 8:33PM
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 Century 21 Scheetz - Bloomington
Investment Insights
Based on property information with market context.
This duplex at 526 S Woodlawn Ave includes two distinct rental units: one three-bedroom residence and one studio. Occupancy permits allow three residents in the larger unit and one resident in the studio, for four permitted occupants overall. The property was built in 1890 and has a reported rental history without vacancy.
The home is positioned two blocks from campus in Bloomington. A new roof, furnace, and air conditioner were installed in April 2026, providing updated major building systems for the two-unit configuration.
The home is positioned two blocks from campus in Bloomington. A new roof, furnace, and air conditioner were installed in April 2026, providing updated major building systems for the two-unit configuration.
Key Highlights
- Two‑unit duplex at 526 S Woodlawn Ave, Bloomington, IN 47401
- Located 2 blocks from campus
- One 3‑bedroom unit and one studio
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
$21,425
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
3.73%
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%
$428,500
$428.5K
Cap Rate 7%
$306,071
$306.1K
Cap Rate 9%
$238,056
$238.1K
Market Conditions
NOI Build-Up for 2,384 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
$32.3K $13.56/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$30.6K $12.84/SF
− OpEx
−$9.2K −$3.85/SF
NOI
$21.4K $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%
$428,500
Cap Rate 7%
$306,071
Cap Rate 9%
$238,056
Alternative Uses
Best Use
Multifamily LT 5
$306.1K
$267.8K – $357.1K
NOI $21,425 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$278.0K
$243.2K – $324.3K
NOI $19,458 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$465.9K
$407.7K – $543.6K
NOI $32,614 @ 7.0% cap · market cap 5.67%
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
1,190
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 - Two permitted rental units include a three-bedroom layout and a studio.
Where is this duplex located?
The property is located at 526 S Woodlawn Ave Bloomington, IN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex at 526 S Woodlawn Ave, Bloomington, IN 47401; Located 2 blocks from campus; One 3‑bedroom unit and one studio
