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Austin Lame

austin@bhhsin.com +1(812) 706-9625

Listed by Jenna Hancock-Wargel • Berkshire Hathaway HomeServices Indiana Realty • Cell: 812-568-4774

$ 179,900

Est. payment | -/mo

4 Beds

4 Baths

1,925 SqFt

Save Virtual Tour

$ 179,900

Est. payment | -/mo

Save Virtual Tour

4 Beds

4 Baths

1,925 SqFt

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Pending

Purchase Type For Sale

Square Footage 1,925 sqft

Subdivision Park Land / Parkland

MLS Listing ID IRM202638215

Style Ranch

Bedrooms 4

Full Baths 4

HOA Y/N No

Year Built 1967

Annual Tax Amount $2,124

Tax Year 2026

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 131 x 40

Property Sub-Type Fourplex

Property Description

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 roof replaced in 2012. Whether you're a seasoned investor or a first-timer ready to stop sitting on the sidelines, this turnkey fourplex is your entry point — cash or conventional buyers only, so come ready to move!

Location

State IN

County Vanderburgh County

Rooms

Basement Slab

Interior

Heating Gas, Forced Air

Inclusions Building

Fireplace N

Exterior

Parking Features Gravel, Parking Lot, On Street

Fence None

Amenities Available None

Waterfront Description None

View Y/N true

Total Parking Spaces 4

Building

Lot Description Corner Lot, Level

Story One

Sewer Public Sewer

Water City

Level or Stories One

New Construction No

Schools

Elementary Schools Evans

Middle Schools North

High Schools North

School District Evansville-Vanderburgh School Corp.

Others

Pets Allowed No

Tax ID 82-06-17-031-057.001-029

Acceptable Financing IRM202638215

Listing Terms IRM202638215

Special Listing Condition None

Pets Allowed Yes

Virtual Tour https://estatefocusphoto.aryeo.com/property-websites/01a0a606-4183-7361-8d0f-00632f96e694/edit

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(812) 706-9625

austin@bhhsin.com

7220 Eagle Crest Boulevard, Evansville, IN 47715, United States

301-307 Negley AVE Evansville, IN 47711