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803 & 805 Reason Avenue Loogootee, IN $ 249,500
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$ 249,500 Get more info
803 & 805 Reason Avenue
$ 249,500
Back to search
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803 & 805 Reason Avenue

Loogootee, IN, 47553
$ 249,500
Bedrooms5 Baths2.0 Sq 1,880

Monthly Estimate*

$ 1,536

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Multi-Family Home for sale in Loogootee, IN

for $249,500 with 5 bedrooms and 2 full baths. This 1,880 square foot home was built in 1991.

Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living space with solid rental history - 40 X 26 (1040 SF) Expandable Portfolio – The additional vacant lot already has electric, water, and sewer, making it ideal for adding a third rental unit with minimal groundwork. Low-maintenance setup designed for reliable occupancy and attractive returns. Convenient in-town location, close to amenities and employment, boosting rental demand. Currently on 1 year leases that expire 1 Nov 2026. Whether you're expanding your investment portfolio or seeking a property with immediate income and clear potential for growth, this one checks all the boxes.

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Multi-Family Active

Price

$ 249,500

Bedrooms

5

Full Bath

2

Property Type

Multi-Family

Taxes

$ 915

Style

Year Built

1991

Town/City

Loogootee

County/Region

Martin

MLS | Web ID

202546179
Features
General
Heating Electricity Gas Forced Air
Cooling Central Air
Sewer City
# of Buildings 2
Status Active Active
Full Baths 2
Half Baths 0
Bathrooms 2
Year Built 1991
Parking Off Street
New Construction No
Tenant Pays Cable Electric Heating Sewer Trash Collection Water
Subdivision None
Style Other
Stories Count 1
Township Perry
Class INVESTMENT
Type Other
Age 34
Net Income 15417.73
Rent Income 18600
Unit Number INCLUDES 111 TRUELOVE RD
Features Off Street Parking Deck Covered Water Heater Electric
REO No
Status Detail 0
Area Martin County
Location City/Town/Suburb
High School Loogootee
City Loogootee
School District Loogootee Community S.D.
HOA Fees $ 0
Other Fees Frequency None
Architctural Style Other
Total Sq Ft 1880
Elementary School Loogootee
Middle School Loogootee
Legal Description PT NW NW 25-3-5 .30 AC and PT NW NW 25-3-5 .15AC
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202546179
Agent First Name Barb
Agent Last Name Hays
DOM 82
Tax Year 2025
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Exterior
Road Surface Paved
Road Access City
Exterior Aluminum Vinyl
Driveway Gravel
Pool No
Number of Parking Spaces 4
Lot Size Area 19602
Lot Dimensions 19 600 SF
Lot Description Corner Level
Outbuilding None
Waterfront Y/N No
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Interior
Basement None
Flooring Carpet Vinyl Tile Vinyl
Beds 5
Total Number of Units 2
Microwaves 0
Refrigerators 2
Washers 0
Dryer(s) 0
Dishwasher(s) 0
Disposal(s) 0
Above Grade Bedrooms 5
Below Grade Baths 0
Below Grade Bedrooms 0
Total Rooms Below Grade 0
Ranges/Ovens 2
W/D Hookups 2
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* Excluded Features
List By
Barb Hays

Listing Agent

F.C. Tucker Emge

Broker

barbhays@fcte.com

Email

Affordability Calculator

$1,612
Per Month
95%
5%
0%
Monthly Principal & Interest
$1,536
Monthly Property Taxes
$76
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2152365 Elementary School
1237496 Middle School
Loogootee High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
11/15/2025$249,500 Listed Price

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803 & 805 Reason Avenue, Loogootee, IN, 47553 is a Multi-Family Home for sale at $249,500 with 1,880 sqft. 803 & 805 Reason Avenue has 5 bedrooms, 2.0 baths, and was built in 1991. The property's zip code is 47553 which is in Loogootee, IN

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