Duplex with Private
For Sale
$249,900
851 &853 S Park Square Dr, Bloomington, IN 47403
Separate driveways and entrances provide distinct access for each residence.
Property Size2,600 SF
Price / SF$96.12
Days on Market88
Property Features for 851 &853 S Park Square Dr
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private entrances
separate driveways
Building Details
Year Built
1976
Buildings
1
Listing Agency:
RE/MAX Acclaimed Properties
Listed By:
Andy Walker · License #RB14032117
(812) 325-1290
Source:
Callcriswell
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 7 at 5:21PM
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 RE/MAX Acclaimed Properties
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Investment Insights
Based on property information with market context.
This Bloomington duplex contains approximately 2,600 square feet across two residences, with each unit offering approximately 1,300 square feet. Both layouts include three bedrooms, 1.5 bathrooms, generous living areas, private entrances, and separate driveways. Built in 1976, the property provides a clearly divided two-unit configuration.
One residence is currently rented, while the other is vacant. The property is situated on Bloomington’s west side, minutes from Indiana University, downtown Bloomington, shopping, restaurants, parks, and I-69. Its combination of separate access, two residential units, and an available side supports both investment and owner-occupant use as described in the property information.
One residence is currently rented, while the other is vacant. The property is situated on Bloomington’s west side, minutes from Indiana University, downtown Bloomington, shopping, restaurants, parks, and I-69. Its combination of separate access, two residential units, and an available side supports both investment and owner-occupant use as described in the property information.
Key Highlights
- Two‑unit duplex with approximately 2,600 square feet
- Each unit includes approximately 1,300 square feet, 3 bedrooms, and 1.5 bathrooms
- Private entrances and separate driveways for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,221
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,420
$424.4K
Cap Rate 7%
$303,157
$303.2K
Cap Rate 9%
$235,789
$235.8K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$40.9K $15.72/SF
− Vacancy
−$2.3K −$0.88/SF
EGI
$38.6K $14.84/SF
− OpEx
−$17.4K −$6.68/SF
NOI
$21.2K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,420
Cap Rate 7%
$303,157
Cap Rate 9%
$235,789
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,221 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate driveways and entrances provide distinct access for each residence.
Where is this duplex located?
The property is located at 851 &853 S Park Square Dr Bloomington, 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: Two‑unit duplex with approximately 2,600 square feet; Each unit includes approximately 1,300 square feet, 3 bedrooms, and 1.5 bathrooms; Private entrances and separate driveways for both units
