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Archived about 2 months ago

$125,000

4 bd 2 ba

150-152 Magnolia St, Martinsville, IN 46151

Residential SFR

Current Rent **

$1,800

Projected Rent **

$1,800

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Posted By:

Amie Lieurance

🌸Martinsville Property! Great Brick Duplex in the heart of Martinsville!

Check out this great brick double in the heart of Martinsville! Both sides are month-to-month tenant occupied paying $500 per month. Market rent is probably closer to $900 per side per month. Each side has it's own attached carport with 2 beds and 1 bath.

Roof - 20+ years
Windows - some vinyl
Attached Carports
150 UNIT
Furnace - new in 2020
AC - new in 2024
Water Heater - new in 2018
152 UNIT
Furnace - new in 2005
AC - new in 2005
Water Heater - new in 2014

DO NOT Disturb occupants. Please reply for showing information.

This side of the street is lined with similar brick duplexes and several have sold over the last few years.

Recent Duplex Sales on same street include:
80-82 Magnolia- SOLD $133k in March 2023 (2/1 and 728 each side, no garage or carport, 97 DOM)
60-62 Magnolia - SOLD $145,500 in April 2023 (2/1 and 783 each side, no garage or carport)
20-22 Magnolia - SOLD $156,500 in August 2021 (2/1 and 702 sf each side, attached carports, shares back yard with 1680-1682 Orange, 14 DOM)
1680-1682 Orange - SOLD $161,500 in August 2021 (2/1 and 702 sf each side, 1-car attached garage each side, shares back yard with 20-22 Magnolia, 14 DOM)
180-182 Magnolia - SOLD $163,500 in May 2023 (2/1 and 801 sf each side, attached carports, 24 DOM)

Location:

150-152 Magnolia St, Martinsville, IN 46151

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.