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615 - 615 1/2 Madison Avenue Anderson, IN $ 112,900
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$ 112,900 Get more info
615 - 615 1/2 Madison Avenue
$ 112,900
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615 - 615 1/2 Madison Avenue

Anderson, IN, 46016
$ 112,900
Bedrooms3 Baths2.0 Sq 1,952

Monthly Estimate*

$ 695

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Multi-Family Home for sale in Anderson, IN

for $112,900 with 3 bedrooms and 2 full baths. This 1,952 square foot home was built in 1950.

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, 1109-1111 W 11th St, 1303-1305 Sycamore, 615-615 1/2 Madison and 1815 - 1815 1/2 Fletcher.

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Multi-Family Active

Price

$ 112,900

Bedrooms

3

Full Bath

2

Property Type

Multi-Family

Taxes

$ 1,302

Style

Duplex

Year Built

1950

Town/City

Anderson

County/Region

Madison

MLS | Web ID

202613954
Features
General
Heating Gas Forced Air
Cooling None
Sewer City
Status Active Active
Full Baths 2
Half Baths 0
Bathrooms 2
Year Built 1950
New Construction No
Tenant Pays Electric Fuel Trash Collection
Subdivision Other
Style Two Story
Stories Count 2
Township Anderson
Class INVESTMENT
Type Duplex
Age 76
Net Income 10559.06
Rent Income 18612
Features Porch Covered
REO No
Status Detail 0
Area Madison County
High School Anderson
City Anderson
School District Anderson Community
Total Sq Ft 1952
Elementary School Anderson
Middle School Highland
Legal Description W P HARTERS 1ST L 028
Agent First Name Ryan
Agent Last Name Orr
DOM 3
Tax Year 2025
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Interior
Basement Crawl
Flooring Other
Beds 3
Total Number of Units 2
Microwaves 0
Refrigerators 2
Washers 0
Dryer(s) 0
Dishwasher(s) 0
Disposal(s) 0
Above Grade Bedrooms 3
Below Grade Baths 0
Below Grade Bedrooms 0
Total Rooms Below Grade 0
Ranges/Ovens 2
W/D Hookups 0
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Exterior
Exterior Other Vinyl
Pool No
Number of Parking Spaces 2
Lot Size Area 6098
Lot Dimensions 50x125
Lot Description Level
Outbuilding None
Waterfront Y/N No
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* Excluded Features
List By
Ryan Orr

Listing Agent

Re/Max Real Estate Groups

Broker

ryan.orr@orrhomes.com

Email

Affordability Calculator

$804
Per Month
86%
14%
0%
Monthly Principal & Interest
$695
Monthly Property Taxes
$109
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
1237609 Elementary School
5156508 Middle School
Anderson High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/20/2026$112,900 Listed Price

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615 - 615 1/2 Madison Avenue, Anderson, IN, 46016 is a Multi-Family Home for sale at $112,900 with 1,952 sqft. 615 - 615 1/2 Madison Avenue has 3 bedrooms, 2.0 baths, and was built in 1950. The property's zip code is 46016 which is in Anderson, IN

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