Craftsman Duplex with Updated
For Sale
$550,000
526 S Woodlawn Avenue, Bloomington, IN 47401
INVESTMENT, One and Half Story, Bloomington, IN
Property Size2,384 SF
Lot Size0.14 Acres
Price / SF$230.70
Days on Market175
Property Features for 526 S Woodlawn Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2
Parking
2
Subdivision
Elm Heights
Lot features
City/ Town/ Suburb
Elementary school
Rogers/Binford
Middle school
Tri-North
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
Take Atwater to Woodawn Ave. Turn south on Woodlawn. Property will be on your right.
Standard status
Active
APN
53-08-04-100-023.000-009
Size
2,384 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
015-12860-00 Seminary Pt Lot 91, 015-12870-00 COLLEGE PLACE PT (S 5') LOT 29 PLAT 29C & LOT 30; PLAT 30C
Tax Annual Amount
1347
Legal Description
015-12860-00 Seminary Pt Lot 91, 015-12870-00 COLLEGE PLACE PT (S 5') LOT 29 PLAT 29C & LOT 30; PLAT 30C
Utilities
Cooling system
Central Air
Building Details
Year built
1890
Floors in Building
1
Number of units
2
Flooring type
Carpet, Wood
Roof type
Asphalt
Architectural style
Craftsman
Listing Agency:
Century 21 Scheetz - Bloomington · Century 21 Real Estate
(812) 336-2100
Listed By:
Chris Clark · License #RB14050458
(812) 322-1871
Added: Mar 6
Changed: Aug 26
Last Checked: Aug 28 at 6:06AM
MLS# 202607196
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 Craftsman-style duplex contains 2,384 square feet within a one-and-a-half-story configuration. The property includes one three-bedroom unit and one studio, with four total occupancy permits. Interior features include carpet and wood flooring, central air, three bathrooms, and a basement. The asphalt roof, furnace, and air conditioner were replaced in April 2026.
Located at 526 S Woodlawn Avenue in Bloomington, the property is two blocks from campus. The 0.14-acre parcel has a documented rental history reporting zero vacancy, and the permitted unit arrangement provides a combined four-bedroom configuration across the two units.
Located at 526 S Woodlawn Avenue in Bloomington, the property is two blocks from campus. The 0.14-acre parcel has a documented rental history reporting zero vacancy, and the permitted unit arrangement provides a combined four-bedroom configuration across the two units.
Key Highlights
- 2,384‑square‑foot Craftsman duplex on a 0.14‑acre parcel
- One three‑bedroom unit plus one studio
- Four total occupancy permits
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
3.90%
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 3.90%
Second Best
Apartment 5plus
$278.0K
$243.2K – $324.3K
NOI $19,458 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$465.9K
$407.7K – $543.6K
NOI $32,614 @ 7.0% cap · market cap 5.93%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near campus with permitted occupancy for four residents and a three-bedroom-plus-studio layout.
Where is this duplex located?
The property is located at 526 S Woodlawn Avenue Bloomington, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,384‑square‑foot Craftsman duplex on a 0.14‑acre parcel; One three‑bedroom unit plus one studio; Four total occupancy permits
