818 SE Riverside Drive, Evansville, IN 47713
Fourplex - Evansville, IN
- Added:
- Jun 14, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 15 at 12:06 am
Property Features for 818 SE Riverside Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- EntryLevel
- Main,Upper
- Exterior features
- Near Walking Trail, Six Panel Doors, None
- Appliances
- Dryer, Microwave, Range
- Standard status
- Active
- APN
- 82-06-31-020-082.006-029
- Size
- 2,063 SF
- Lot size
- 0.12 Acres
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Vinyl
- Architectural style
- Other
Listing agent Shea Fleck License #RB23000462 (812) 639-3950
Listing office KELLER WILLIAMS CAPITAL REALTY 4424 Vogel Rd Suite 300, IN (812) 422-4096
Listing date Jun 14, 2026
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.
HighLights
- Well‑maintained fourplex in the Historic District, steps from Haynie’s Corner
- Each unit has a private entrance and tall windows for abundant natural light
- Gas and electric are separately metered for each unit; owner covers water, sewer, and trash
- Each unit features central air and forced‑air natural gas heating
- Separate newer water heaters for each unit
- Extensive updates completed within the past two years: fresh paint, updated vinyl flooring, and newer appliances
Overview
The property is located in the heart of the Historic District in Evansville, just steps from Haynie’s Corner, placing it close to the area’s established neighborhood activity.
For buyers seeking an income-oriented residential property, the separate metering can simplify unit-level utility management, while included appliances and private entries support day-to-day resident experience. With central HVAC across all units and the noted recent updates, the building is set up for continued hands-on readiness with less near-term work expected from the interior cosmetic and appliance standpoint.
Local 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 | $28.5k | $13.80 |
| − Vacancy | −$1.6k | −$0.76 |
| EGI | $26.9k | $13.04 |
| − OpEx | −$8.1k | −$3.91 |
| NOI | $18.8k | $9.13 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Longitude
- -87.5692
- Latitude
- 37.962054
