1928 E Spring Street
New Albany, IN, 47150 $ 325,000
Bedrooms5 Baths2.0 Sq 3,209 Monthly Estimate*
$ 2,001
for $325,000 with 5 bedrooms and 2 full baths. This 3,209 square foot home was built in 1929 on a lot size of 0.96.
"Historic 1929 beauty meets modern, turnkey luxury!" Rare Turnkey Multi-Family Opportunity Steps from Downtown New Albany! This is the versatile investment property you've been waiting for! Extensively renovated with high-quality updates, this 1929 two-family home features two massive, renovated 1,600 sq ft units (unit #1 2/bed, unit #2 3/bed) and charming historic touches. The property offers incredible flexibility - ideal for short-term rental, long-term leasing, or as a high-end owner-occupied residence. Situated in a premier location, your tenants will be steps from the best restaurants, shops, and farmers market in downtown New Albany. Enjoy strong income potential from day one with refinished original wood floors, double pane windows, tall ceilings, and modern systems throughout. UNIT #2 SOLD FULLY FINISHED! One seller is a licensed realtor in Indiana. Appliances remaining: Unit #1- refrigerator, microwave, dishwasher, range/oven, washer and dryer. Unit #2-refrigerator, microwave, dishwasher, range/oven, washer and dryer. This duplex is occupied with a 24 month renter (lease ending 2/28/2027) in Unit #1 (unfurnished), and a mid-term renter (ending 8/9/2026) in Unit #2 (furnished). All showings will need to give 24 hour notice.
See more
FeaturesGeneralSewer Public Sewer
Heating Forced Air Heat Pump
Cooling Central Air
Possession Close Of Escrow
Roof Shingle
Appliances Dryer Dishwasher Microwave Oven Range Refrigerator Washer
Zoning Residential
Garage Spaces 2
Patio/Porch Features Covered Patio Porch
Architectural Style Two Story
Construction Materials Aluminum Siding Frame
Year Built 1929
Stories Count 2
Township New Albany
Levels Two
Property Subtype Duplex
Community Features Sidewalks
County Floyd
New Construction false
Property Type Residential
Garage Y/N false
Other Structures Shed(s)
Total Rooms 11
Full Baths 2
Status Active
Directions From downtown New Albany take Spring Street towards Clarksville. The home will be on your right just past Thomas Street.
City New Albany
Zoning Description Residential
Lot Size Units Acres
Lot Size Square Feet 41817.6
Carport Y/N true
Listing Terms Cash Conventional FHA VA Loan
Tax Annual Amount 2408
Home Warranty Y/N false
Property Condition Resale
Lease Considered Y/N false
Structure Type Duplex
Standard Status Active
Occupancy Type Tenant
Property Sub Type Additional Residential
See more
InteriorInterior Amenities Bookcases Cedar Closet(s) Ceiling Fan(s) Entrance Foyer Home Office Main Level Primary Open Floorplan Storage Natural Woodwork Walk-In Closet(s) Window Treatments
Basement Full Unfinished Sump Pump
Total Fireplaces 2
Fireplace Features Decorative
Basement (Y/N) true
Air Conditioning Y/N true
Heating Y/N true
Window Features Blinds
Fireplace Y/N true
Above Grade Finished Area 3209.07
Half Baths 0
Laundry Features In Basement Laundry Room
Total Bedrooms 5
Below Grade Finished Area 0
Total Baths 2
See more
ExteriorExterior Amenities Porch Patio
Parking Features Carport
Water Source Connected Public
Lot Size Area 0.96
Foundation Details Brick/Mortar
Building Area Total 3209
Lot Dimensions 35x120
Lot Size Acres 0.96
Road Surface Type Paved
Other Parking On Street
Lot Size Source Assessor
See more
* Excluded FeaturesList ByJennifer SilvaListing Agent
Affordability Calculator
- Monthly Principal & Interest
- $2,001
- Monthly Property Taxes
- $201
- 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.
Learn more about how to save NearbyMulti-family listings in New Albany, IN
Average List Price $477,960
Percent of Sale Price 47%
About New Albany, IN 37,322 Population
-2% Since 2002
$ 42,745 Median Income
38.43 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
0 Elementary School
0 Middle School
Pricing History| Date | Price | Price Change | Description |
|---|
| 5/5/2026 | $325,000 | | Listed Price |