1307 E Market Street
New Albany, IN, 47150 $ 225,000
Bedrooms3 Baths2.0 Sq 1,704 Monthly Estimate*
$ 1,421
for $225,000 with 3 bedrooms and 2 full baths. This 1,704 square foot home was built in 1929 on a lot size of 0.07.
Excellent opportunity to own a FULLY RENTED (pictures are pre-tenant move in), turnkey duplex with immediate cash flow! Bringing 10-12%+ cash on cash returns, this one you don't want to miss! This well-maintained income-producing property features two spacious units with updated luxury vinyl plank flooring, neutral paint colors, abundant natural light, and low-maintenance finishes that continue to attract quality tenants. Investment Highlights: Fully rented duplex • Unit 1: $1,099/month • Unit 2: $875/month • Total Projected Monthly Rental Income: $1,974 • Projected Annual Gross Rental Income: $23,688 • Annual Insurance: $1,810 • Annual Taxes $2388. Tenant pays all utilities. Landlord only pays lawncare ($30/cut) The first-floor unit offers 2 bedrooms, 1 full bath, a spacious living room, an eat-in kitchen with ample cabinet and countertop space, a dedicated laundry area, and access to a private fenced backyard with a patio and storage sheds. Rented for: $1,099/month. The second-floor unit features 1 bedroom, 1 full bath, a bright oversized living area, functional kitchen, and a large walk-in closet, creating an ideal layout for long-term tenants. Rented for: $875/month. Additional features include separate entrances, spacious room sizes, updated flooring throughout both units, off-street rear access, and a fully fenced backyard that adds to tenant appeal. OWNER IS A LICENSED REAL ESTATE AGENT IN INDIANA & KENTUCKY
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FeaturesGeneralSewer Public Sewer
Heating Forced Air
Cooling Central Air
Possession Negotiable
Appliances Oven Range Refrigerator
Zoning Residential
Architectural Style Two Story
Construction Materials Vinyl Siding Frame
Year Built 1929
Stories Count 2
Township New Albany
Levels Two
Property Subtype Duplex
County Floyd
New Construction false
Property Type Residential
Garage Y/N false
Other Structures Shed(s)
Total Rooms 0
Full Baths 2
Status Active
Directions Head toward E 13th St. Turn right onto E 10th St. Turn left onto E Spring St. Turn left onto Indiana's Historic Pathways - South Spur/State St. Turn right onto W Market St
City New Albany
Zoning Description Residential
Lot Size Units Acres
Lot Size Square Feet 3049.2
Listing Terms Cash Conventional
Tax Annual Amount 2388
Property Condition Resale
Lease Considered Y/N false
Structure Type Duplex
Standard Status Active
Occupancy Type Tenant
Property Sub Type Additional Residential
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InteriorBasement Crawl Space
Basement (Y/N) false
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N false
Above Grade Finished Area 1704
Half Baths 0
Laundry Features Laundry Closet Main Level
Total Bedrooms 3
Below Grade Finished Area 0
Total Baths 2
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ExteriorWater Source Connected Public
Lot Size Area 0.07
Foundation Details Crawlspace
Building Area Total 1704
Lot Size Acres 0.07
Other Parking On Street
Lot Size Source Assessor
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* Excluded FeaturesList ByJared HousierListing Agent
Southern Homes RealtyBroker
Affordability Calculator
- Monthly Principal & Interest
- $1,421
- Monthly Property Taxes
- $199
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% 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 $415,371
Percent of Sale Price 85%
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 |
|---|
| 7/15/2026 | $225,000 | | Listed Price |