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    Residential Income Duplex with Two Rentals

    803 & 805 REASON Avenue Loogootee, IN 47553

    Claim this Listing
    For Sale
    $235,000

    MULTI_FAMILY - Loogootee, IN

    Property size:
    1,880 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $125/SF
    Added:
    Nov 13, 2025
    Days on Market:
    241
    Last Refresh:
    Jul 12 at 2:06 pm

    Property Features for 803 & 805 REASON Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4
    Parking
    4
    Parking features
    Off Street
    Standard status
    Active
    APN
    51-08-25-200-185.000-008
    Size
    1,880 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PT NW NW 25-3-5 .30 AC and PT NW NW 25-3-5 .15AC
    Tax Annual Amount
    891

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1991
    Number of units
    2
    Flooring type
    Carpet, Vinyl, Tile
    Roof type
    Metal, Asphalt

    Listing agent Barb Hays License #RB20000195

    Listing office F.C. TUCKER EMGE 901 NEWTON STREET, Evansville, IN

    Listing date Nov 13, 2025

    MLS# 202546179

    Copyright © 2026 Southwest Indiana Association of Realtors. 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 residential income property includes two active rentals on two city lots: a 3-bedroom, 1-bath mobile home measuring 12 x 70 (840 SF) and a 2-bedroom, 1-bath pole barn house measuring 40 x 26 (1,040 SF). The vacant lot on the second city parcel is set up for expansion, with electric, water, and sewer already present, offering a straightforward path to adding a third rental unit.

    The property is located at 803 & 805 REASON Avenue in Loogootee, Indiana (Martin County). The current rentals are on 1-year leases that expire on November 1, 2026. The surrounding area includes nearby community amenities such as a city park, a swimming pool, and pickleball courts.

    For investors or owner-operators looking for immediate rental income, the asset provides two existing, income-producing units while retaining flexibility through the additional lot utilities. The current lease terms through November 1, 2026 also help define near-term occupancy timing while the third-unit concept can be evaluated for future development.

    Key Highlights

    • Two active rentals on two city lots: 3 bed 1 bath mobile home rental and a 2 bed 1 bath pole barn house rental
    • 3 bed 1 bath mobile home rental includes 12 x 70 (840 SF) and is currently on a 1‑year lease expiring 1 Nov 2026
    • 2 bed 1 bath pole barn house rental includes 40 x 26 (1040 SF) and is currently on a 1‑year lease expiring 1 Nov 2026

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Parking Lot & Garage Bakery Furniture & Home Goods (Bike/Boat/Book/etc) Store Storage Facility (Bike/Boat/Book/etc) Store Catering Service Barber Shop Real Estate Agency Cafe & Coffee Shop

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

    FAQs

    What type of property is this?
    Duplex - Two currently leased rental homes on separate city lots, with a third unit addition supported by utilities at the vacant lot.
    Where is this duplex located?
    The property is located at 803 & 805 REASON Avenue Loogootee, IN.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Two active rentals on two city lots: 3 bed 1 bath mobile home rental and a 2 bed 1 bath pole barn house rental; 3 bed 1 bath mobile home rental includes 12 x 70 (840 SF) and is currently on a 1‑year lease expiring 1 Nov 2026; 2 bed 1 bath pole barn house rental includes 40 x 26 (1040 SF) and is currently on a 1‑year lease expiring 1 Nov 2026
    Contact an agent
    (812) 899-0287
    We can help!
    Contact an agent
    Barb Hays
    Barb Hays
    Real Estate License ID: RB20000195
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