1609 Rheinhardt Ave Evansville, IN 47714
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 1609 Rheinhardt Ave
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of six single-family rental properties located in Evansville, Indiana, within Vanderburgh County. The properties are situated at 1609 Rheinhardt Ave, 1625 Rheinhardt Ave, 1335 E Franklin St, 909 N 5th Ave, 1316 N 5th Ave, and 921 W Missouri St, encompassing a diverse range of addresses within the 47710, 47711, and 47714 zip codes. This portfolio offers a compelling investment proposition with a total asking price of $390,000, translating to $65,000 per unit. The current annual net operating income (NOI) stands at $48,060, resulting in an attractive cap rate of 12.32%. Individual unit rents range from $600 to $715 per month, generating a combined monthly rental income of $4,005. Tenants are responsible for their own utilities. Showings are scheduled following the acceptance of a Letter of Intent (LOI), contingent upon a property walkthrough. This portfolio represents a strong cash-flowing investment with significant potential for future appreciation. The properties are sold as a package.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Longitude
- -87.5356476
- Latitude
- 37.9410675
