Four-Unit Quadplex with
For Sale
$349,000
Pending
904 Parkview Dr, Boonville, IN 47601
Well-maintained residential income property with one available unit, three occupied units, and dedicated off-street parking.
Property Size3,712 SF
Days on Market227
Property Features for 904 Parkview Dr
General Information
Standard status
Pending
Size
3,712 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,474
Amenities
range
refrigerator
washer
dryer
off-street parking
Listing Agency:
ERA FIRST ADVANTAGE REALTY, INC
Listed By:
Sherry Hancock
(812) 858-2400
Source:
Exprealty
Added: Mar 3
Changed: Oct 7
Last Checked: Oct 15 at 3:56AM
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 ERA FIRST ADVANTAGE REALTY, INC
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Investment Insights
Based on property information with market context.
This quadplex contains four residential units, each offering two bedrooms, one bathroom, a kitchen equipped with a range and refrigerator, a washer and dryer, and a spacious living room. The building and units are described as being in good condition, with ongoing owner maintenance.
One unit is currently vacant, while the remaining three units are rented. The property sits on a corner lot and includes off-street parking. Located at 904 Parkview Dr in Boonville, Indiana, the 3,712-square-foot property provides a four-unit configuration with a mix of occupied and available space.
One unit is currently vacant, while the remaining three units are rented. The property sits on a corner lot and includes off-street parking. Located at 904 Parkview Dr in Boonville, Indiana, the 3,712-square-foot property provides a four-unit configuration with a mix of occupied and available space.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- Each unit includes a range, refrigerator, washer, dryer, kitchen, and spacious living room
- 3,712 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,964
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,280
$379.3K
Cap Rate 7%
$270,914
$270.9K
Cap Rate 9%
$210,711
$210.7K
Market Conditions
NOI Build-Up for 3,712 SF
Gross rent
$36.5K $9.84/SF
− Vacancy
−$2.0K −$0.55/SF
EGI
$34.5K $9.29/SF
− OpEx
−$15.5K −$4.18/SF
NOI
$19.0K $5.11/SF
Area
Warrick County, IN
Vacancy
5.60%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,280
Cap Rate 7%
$270,914
Cap Rate 9%
$210,711
Alternative Uses
Best Use
Apartment 5plus
$270.9K
$237.1K – $316.1K
NOI $18,964 @ 7.0% cap · market cap 5.43%
Second Best
Multifamily LT 5
$254.6K
$222.8K – $297.1K
NOI $17,825 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$734.5K
$642.7K – $856.9K
NOI $51,412 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 47601, IN
14,088
Population
5,803
Households
2.4
Avg Household Size
43
Median Age
24%
College-Educated
94%
High-School Grad
127.3 sq mi
ZIP Area
111
Density / Sq Mi
$77,411
Median Household Income
$46,517
Median Earnings
$843
Median Rent
$184,900
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?
Quadplex - Well-maintained residential income property with one available unit, three occupied units, and dedicated off-street parking.
Where is this quadplex located?
The property is located at 904 Parkview Dr Boonville, IN.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; Each unit includes a range, refrigerator, washer, dryer, kitchen, and spacious living room; 3,712 square feet of property size
