225 W Pennsylvania Street Shelbyville, IN $ 219,900
225 W Pennsylvania Street
$ 219,900
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225 W Pennsylvania Street

Shelbyville, IN, 46176
$ 219,900
Baths0.0

Monthly Estimate*

$ 1,536

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225 W Pennsylvania Street, Shelbyville, IN 46176 - Image 2
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Studio

Multi-Family Home for sale in Shelbyville, IN

for $219,900. This home was built in 1979 on a lot size of 0.13.

Makeup: A 2 BR, 1BR, and Studio at $750, $745, and $500. Invest in a Lucrative Triplex Generating over almost $2000 Monthly Income In today's dynamic real estate market, finding an investment opportunity that promises both stability and significant returns is paramount. Introducing a prime investment opportunity: a meticulously maintained triplex boasting three units and generating almost $2,000 (rents are on the lower side) in monthly rental income. This triplex is not just a property; it's a pathway to financial prosperity and security. Unlocking the Potential: With three distinct units, each contributing to the impressive monthly income, this triplex offers investors a rare opportunity to diversify their income streams and maximize returns. Whether you choose to rent out all three units or occupy one while leasing the others, the potential for profit is undeniable. Location, Location, Location: Situated in a highly sought-after area, this triplex benefits from its prime location, surrounded by amenities, downtown restaurants and shopping, trail heads, and convenient transportation options. The demand for rental properties in such desirable neighborhoods ensures a steady stream of potential tenants, minimizing vacancies and maximizing rental income potential. Crunching the Numbers: Let's talk figures. With around $2000 in monthly rental income and room to improve those numbers, this triplex yields an annual income that surpasses $15,000 before debt service. Such impressive numbers speak volumes about the financial viability of this investment opportunity. Moreover, with the potential for rental rate increases and property appreciation over time, the long-term returns on investment are even more promising. Rates could be nearer $900, 750, and 700.

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Multi-Family Active

Price

$ 219,900

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 2,942

Style

Triplex

Lot Size

0.13

Year Built

1979

Town/City

Shelbyville

County/Region

Shelby

MLS | Web ID

21971459

Features
General
Heating Forced Air Gas
Possession Closing
Roof Asphalt
Zoning None
Year Built 1979
Tenant Pays Electricity Fees Gas Insurance
Township Addison
Levels Two
Property SubType Triplex
Tax Year 2024
Current Use Residential
County Shelby
Net Operating Income 16600
New Construction N
Property Type Residential Income
Subdivision Name S B Morris Penn
Status Active
Directions GPS Friendly
High School Shelbyville Sr High School
City Shelbyville
Buyer Agent Compensation 2
High School District Shelbyville Central Schools
Total Units 3
MLS Area 7308 - Shelby - Addison
Lot Size Square Feet 5750
Carport Spaces 2
Street Name Pennsylvania
Property Attached Y/N Y
Current Financing Conventional FHA
Middle/Junior High School Shelbyville Middle School
Days on Market 3
Structure Type Triplex
Standard Status Active
Tax Lot 1111
Buyer Agent Compensation Type %
Legal Description S B Morris Penn Lt4
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Interior
Basement Unfinished
Basement (Y/N) Y
Street Suffix Street
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Exterior
Foundation Details Block
Lot Size Acres 0.13
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* Excluded Features
List By
Mackenzie Allen, Polston & Ass

Broker

JPOLSTON@MACKENZIEALLENREALESTATE.COM

Email

Affordability Calculator

$1,781
Per Month
86%
14%
0%
Monthly Principal & Interest
$1,536
Monthly Property Taxes
$245
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% 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.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
4045152 Elementary School
4046662 Middle School
Shelbyville Sr High School High School
Pricing History
DatePricePrice ChangeDescription
4/1/2024$219,900 Listed Price

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225 W Pennsylvania Street, Shelbyville, IN, 46176 is a Multi-Family Home for sale at $219,900 with a lot size of 0.13. 225 W Pennsylvania Street is a studio with 0.0 baths and was built in 1979. The property's zip code is 46176 which is in Shelbyville, IN