Duplex with Two Private
851 South Park Square Drive Bloomington, IN 47403
For Sale
$279,900
Duplex offers two 3-bedroom units with private entrances and separate driveways, with one unit currently rented.
Property Size2,600 SF
Price / SF$107.65
Days on Market25
Property Features for 851 South Park Square Drive
General Information
- Standard status
- Active
- Size
- 2,600 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1976
Listing Agency:
RE/MAX Acclaimed Properties
(812) 325-1290
Listed By:
Andy Walker · License #RB14032117
Source:
Compass
Added: Jul 3
Changed: Jul 22
Last Checked: Jul 26 at 1:22PM
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
Investment Insights
Based on property information with market context.
This duplex is configured as two separate residential units, each offering 3 bedrooms and 1.5 bathrooms with generous living areas. The units feature private entrances and separate driveways, providing a practical setup for both investment and owner-occupancy. One unit is currently rented, while the second unit is vacant.
Located on Bloomington’s west side, the property is described as being minutes from Indiana University, downtown Bloomington, shopping, restaurants, parks, and I-69, which can support everyday convenience for tenants or residents.
With two independent units on the same property, the layout is designed to allow separate occupancy while still maintaining an overall duplex ownership structure.
Located on Bloomington’s west side, the property is described as being minutes from Indiana University, downtown Bloomington, shopping, restaurants, parks, and I-69, which can support everyday convenience for tenants or residents.
With two independent units on the same property, the layout is designed to allow separate occupancy while still maintaining an overall duplex ownership structure.
Key Highlights
- Duplex with two 3‑bedroom units, each with approximately 1,300 SF and 1.5 baths
- One unit currently rented for $1,001/month; the second unit is vacant
- Separate driveways and private entrances for each unit
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 | $35.3k | $13.56 |
| − Vacancy | −$1.9k | −$0.72 |
| EGI | $33.4k | $12.84 |
| − OpEx | −$10.0k | −$3.85 |
| NOI | $23.4k | $8.99 |
2,600 SF · lease $13.56/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,221 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offers two 3-bedroom units with private entrances and separate driveways, with one unit currently rented.
Where is this duplex located?
The property is located at 851 South Park Square Drive Bloomington, IN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Duplex with two 3‑bedroom units, each with approximately 1,300 SF and 1.5 baths; One unit currently rented for $1,001/month; the second unit is vacant; Separate driveways and private entrances for each unit
