Duplex with Studio
New
For Sale
$550,000
526 S Woodlawn Avenue Unit 1 & 2, Bloomington, IN 47401
Two-unit rental property combines a three-bedroom residence with a separate studio and documented occupancy permits.
Property Size2,384 SF
Price / SF$230.70
Days on Market4
Property Features for 526 S Woodlawn Avenue Unit 1 & 2
General Information
Standard status
Active
Size
2,384 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 3BR, 1 x studio
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
Century 21 Scheetz - Bloomington
Listed By:
Chris Clark · License #RB14050458
(812) 322-1871
Source:
Jmrealtyonline
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:42PM
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
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Investment Insights
Based on property information with market context.
This 2,384-square-foot duplex contains two distinct residences: a three-bedroom unit and a studio. Occupancy permits allow three people in the larger unit and one in the studio, for four permitted occupants across the property. The building dates to 1890, and a roof, furnace, and air conditioner were installed in April 2026.
The property is located two blocks from campus. Its rental history is reported as having no vacancies.
The property is located two blocks from campus. Its rental history is reported as having no vacancies.
Key Highlights
- Two units: a three‑bedroom residence and a studio
- 2,384 square feet; built in 1890
- Occupancy permits allow three residents in the larger unit and one in the studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,425
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit rental property combines a three-bedroom residence with a separate studio and documented occupancy permits.
Where is this duplex located?
The property is located at 526 S Woodlawn Avenue Unit 1 & 2 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: Two units: a three‑bedroom residence and a studio; 2,384 square feet; built in 1890; Occupancy permits allow three residents in the larger unit and one in the studio
