301-307 Negley Avenue, Evansville, IN 47711

Evansville
Local realty services provided by:Better Homes and Gardens Real Estate Connections
301-307 Negley Avenue,Evansville, IN 47711
$185,000
  • 4 Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: jenna hancock-wargelCell: 812-568-4774
Office: berkshire hathaway homeservices indiana realty
MLS#:202638215
Source:Indiana Regional MLS

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Price summary

  • Price:$185,000

About this home

Ready to put your money to work? This fully occupied, cash-flowing ranch-style brick fourplex on the Northside of Evansville is the investment opportunity you've been looking for — priced at just $179,900! All four units are currently rented, generating $1,990/month ($23,880/year) in gross income, and with tenants covering their own electric and gas (4 separate CenterPoint meters), your only utility obligation is one shared water/trash/sewer bill averaging just $200/month. The numbers shine with a cap rate ranging from 8.02% to 9.35% depending on management structure — well above the typical Midwest average of 6–8% — and at only $44,975 per unit, the value is undeniable. The property practically runs itself — brick exterior, minimal landscaping, a charming covered porch, ample parking on this corner lot, and quality finishes throughout including LVP flooring in units 303 and 305, newer carpeting, updated vanities and toilets in three units, replacement windows, a 2025 furnace, and a...

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Home facts

  • Year built:1967
  • Subdivision & Development:Park Land / Parkland
  • Listing ID #:202638215
  • Added:56 day(s) ago
  • Updated:November 12, 2026 at 08:34 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:4
  • Full bathrooms:4
  • Flooring:Carpet, Laminate, Vinyl
  • Kitchen Description:Eat-In Kitchen
  • Basement Description:Slab

Heating and cooling

  • Cooling:Central Air
  • Heating:Forced Air, Gas
  • Central air:Yes

Structure and exterior

  • Roof:Dimensional Shingles
  • Year built:1967
  • Lot Features:Corner, Level
  • Architectural Style:One Story, Ranch
  • Construction Materials:Brick
  • Exterior Features:Porch Covered
  • Levels:1 Story

Schools

  • High school:North
  • Middle school:North
  • Elementary school:Evans

Utilities

  • Water:City
  • Sewer:City

Finances and disclosures

  • Price:$185,000
  • Tax amount:$2,533

Features and amenities

  • Amenities:Ceiling Fan, Water Heater Gas

Parking

  • Parking description:Gravel Driveway, Parking Lot, Street 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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