Three-Bedroom Residential Income
For Sale
$205,000
A-3230 E John Hinkle Pl, Bloomington, IN 47408
Updated exterior and convenient access to campus, retail, transit, parks, and grocery stores.
Property Size1,075 SF
Price / SF$190.70
Days on Market151
Property Features for A-3230 E John Hinkle Pl
General Information
Standard status
Active
Size
1,075 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,311
Building Details
Year Renovated
2024
Listing Agency:
Partners Realty Group
Listed By:
Tiffany Walls · License #RB24000466
(812) 606-6442
Source:
Exprealty
Added: Apr 8
Changed: Sep 2
Last Checked: Sep 4 at 8:54AM
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 Partners Realty Group
Investment Insights
Based on property information with market context.
This residential income property provides 1,075 square feet with three bedrooms, two full bathrooms, and a practical interior arrangement. The living and dining areas connect in an open configuration, while the kitchen includes cabinetry and counter space. A new exterior was completed across the building in 2024.
The property is located at A-3230 E John Hinkle Pl in Bloomington, with Indiana University’s campus approximately 5 minutes away and College Mall nearby. Downtown Bloomington, public transportation, parks, and grocery stores are also within convenient reach.
The property is located at A-3230 E John Hinkle Pl in Bloomington, with Indiana University’s campus approximately 5 minutes away and College Mall nearby. Downtown Bloomington, public transportation, parks, and grocery stores are also within convenient reach.
Key Highlights
- 1,075 square feet with 3 bedrooms and 2 full bathrooms
- New exterior across the entire building completed in 2024
- Open living and dining arrangement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,774
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$175,480
$175.5K
Cap Rate 7%
$125,343
$125.3K
Cap Rate 9%
$97,489
$97.5K
Market Conditions
NOI Build-Up for 1,075 SF
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.
Gross rent
$16.9K $15.72/SF
− Vacancy
−$946 −$0.88/SF
EGI
$16.0K $14.84/SF
− OpEx
−$7.2K −$6.68/SF
NOI
$8.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$175,480
Cap Rate 7%
$125,343
Cap Rate 9%
$97,489
Alternative Uses
Best Use
Apartment 5plus
$125.3K
$109.7K – $146.2K
NOI $8,774 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.1K
$183.8K – $245.1K
NOI $14,707 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 47408, IN
22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated exterior and convenient access to campus, retail, transit, parks, and grocery stores.
Where is this residential income property located?
The property is located at A-3230 E John Hinkle Pl Bloomington, IN.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 1,075 square feet with 3 bedrooms and 2 full bathrooms; New exterior across the entire building completed in 2024; Open living and dining arrangement
