Updated Fourplex With Private
818 SE Riverside Drive, Evansville, IN 47713
For Sale
$249,900
INVESTMENT, Two Story, Evansville, IN
Property Size2,063 SF
Lot Size0.12 Acres
Price / SF$121.13
Days on Market153
Property Features for 818 SE Riverside Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Amenities
private entrances
included appliances
central heating and air conditioning
Building Details
Year built
Floors in Building
Number of units
Flooring type
Architectural style
Buildings
Listing Agency:
KELLER WILLIAMS CAPITAL REALTY · Keller Williams Realty
(812) 422-4096
Listed By:
Shea Fleck · License IN RB23000462
(812) 639-3950
Added: Jun 14
Changed: Oct 26
Last Checked: Nov 13 at 11:06PM
MLS# 202623350
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.
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Investment Insights
Based on property information with market context.
This fourplex contains 2,063 square feet across four residential units, each with its own entrance, tall windows, and included appliances. Central heating and air conditioning serve every unit, while separate newer water heaters support individual operations. Vinyl flooring and updated interior finishes contribute to the current configuration, with fresh paint, newer appliances, and additional improvements completed within the past two years.
Gas and electric service are separately metered by unit. Ownership is responsible for water, sewer, and trash service. The property occupies 0.12 acres and was built in 1919. It is situated in Evansville’s Historic District, with Haynie’s Corner identified nearby.
Gas and electric service are separately metered by unit. Ownership is responsible for water, sewer, and trash service. The property occupies 0.12 acres and was built in 1919. It is situated in Evansville’s Historic District, with Haynie’s Corner identified nearby.
Key Highlights
- Four‑unit residential property totaling 2,063 square feet
- Each unit has a private entrance, tall windows, and included appliances
- Central heating and air conditioning serve all four units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,831
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,620
$376.6K
Cap Rate 7%
$269,014
$269.0K
Cap Rate 9%
$209,233
$209.2K
Market Conditions
NOI Build-Up for 2,063 SF
Gross rent
$28.5K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$26.9K $13.04/SF
− OpEx
−$8.1K −$3.91/SF
NOI
$18.8K $9.13/SF
Area
Evansville, IN
Vacancy
5.51%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,620
Cap Rate 7%
$269,014
Cap Rate 9%
$209,233
Alternative Uses
Best Use
Multifamily LT 5
$269.0K
$235.4K – $313.9K
NOI $18,831 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$247.4K
$216.4K – $288.6K
NOI $17,315 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$512.2K
$448.1K – $597.5K
NOI $35,851 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
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Business Placement
Demographics for 47713, IN
9,916
Population
5,507
Households
1.8
Avg Household Size
35
Median Age
21%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
1,983
Density / Sq Mi
$37,448
Median Household Income
$29,366
Median Earnings
$931
Median Rent
$85,200
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Evansville, IN
Properties on Market for Quadplexes in Evansville
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include appliances, central heating and air conditioning, and separate gas and electric meters.
Where is this quadplex located?
The property is located at 818 SE Riverside Drive Evansville, IN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Four‑unit residential property totaling 2,063 square feet; Each unit has a private entrance, tall windows, and included appliances; Central heating and air conditioning serve all four units
