615 - 615 1/2 Madison Avenue, Anderson, IN 46016

Anderson
Local realty services provided by:Better Homes and Gardens Real Estate Connections
615 - 615 1/2 Madison Avenue,Anderson, IN 46016
$112,900
  • 3 Beds
  • 2 Baths
  • 1,952 sq. ft.
  • Multi-family
  • Active
Listed by: ryan orrCell: 765-744-9500
Office: re/max real estate groups
MLS#:202613954
Source:Indiana Regional MLS

Price summary

  • Price:$112,900
  • Price per sq. ft.:$57.84

About this home

This package features six consistently high-demand rental duplex properties (12 units) situated in the Anderson, IN market. The portfolio offers a secure, well-managed investment with immediate upside potential. Stable Income Stream: The properties demonstrate strong, reliable cash flow, supported by excellent historical rent collection and exceptional occupancy rates (minimal historical vacancy). Turnkey Efficiency: Current owners have meticulously maintained the units, significantly minimizing the need for immediate Capital Expenditure (CapEx). Value-Add Opportunity: Current rents are below prevailing market rates for comparable local properties, providing a clear path for substantial income growth through gradual rent increases to achieve market value. Tenant Stability: Due to diligent maintenance, the properties have high long-term tenant satisfaction, contributing to low turnover. Seller will sell individually or as a group-addresses: 403-405 W 5th St, 1105-1107 W 11th St,...

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Home facts

  • Year built:1950
  • Listing ID #:202613954
  • Added:3 day(s) ago
  • Updated:April 24, 2026 at 02:54 PM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:2
  • Full bathrooms:2
  • Basement Description:Crawl
  • Living area:1,952 sq. ft.

Heating and cooling

  • Heating:Forced Air, Gas

Structure and exterior

  • Year built:1950
  • Building area:1,952 sq. ft.
  • Lot area:0.14 Acres
  • Lot Features:Level
  • Architectural Style:Two Story
  • Construction Materials:Vinyl
  • Exterior Features:Porch Covered
  • Levels:2 Stories

Schools

  • High school:Anderson
  • Middle school:Highland
  • Elementary school:Anderson

Utilities

  • Water:City
  • Sewer:City

Finances and disclosures

  • Price:$112,900
  • Price per sq. ft.:$57.84
  • Tax amount:$750

Parking

  • Garage spaces:1
IRMLS information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IRMLS Data is deemed reliable but is not guaranteed accurate by the MLS. IRMLS information provided by the Indiana Regional MLS. Copyright 2026 Indiana Regional MLS LLC.

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