1122 N Madison St

Bloomington, IN 47404

$650,000
Price
9
Beds
4,416 Sq. Ft.
$147 / Sq. Ft.
4,416
Sq. Ft.
$147
per Sq. Ft.

Description

Prime Investment Opportunity! Don’t miss this rare chance to own a well-located multi-unit property at the corner of Madison and 16th Street. Zoned RM - Residential Multi Family. The property includes six 1-bedroom/1-bath apartments plus an attached 4-bedroom/1.5-bath house. Income Potential: Fully rented, the property generates approximately $6,200 per month. Tenant-Paid Utilities: Tenants are responsible for their own utilities, minimizing owner expenses. Appliances Included: Each apartment is...Prime Investment Opportunity! Don’t miss this rare chance to own a well-located multi-unit property at the corner of Madison and 16th Street. Zoned RM - Residential Multi Family. The property includes six 1-bedroom/1-bath apartments plus an attached 4-bedroom/1.5-bath house. Income Potential: Fully rented, the property generates approximately $6,200 per month. Tenant-Paid Utilities: Tenants are responsible for their own utilities, minimizing owner expenses. Appliances Included: Each apartment is equipped with a refrigerator and range; the house includes a refrigerator, range, washer, and dryer. Permits & Compliance: Occupancy permit for 35 in place and valid through 2/1/2028. Zoned RM. Showing Availability: Two apartments are currently vacant and available for immediate showings. Additional unit showings may be arranged for serious buyers. This property combines strong cash flow potential with a highly desirable location—perfect for both seasoned investors and those looking to expand their portfolio. The owner is open to bundling this property with other properties in his portfolio.
  1. Listed by Alice Chastain • RE/MAX Acclaimed Properties • Cell: 812-322-6256
  2. Listed by David Chastain • RE/MAX Acclaimed Properties

Property Details for 1122 North Madison Street

Style
Two Story
Subdivision
None
Waterfront
No
Water Features
None
Pet Restrictions
No
LISTING UPDATED: 01/02/2026 10:11 PM

Property Details for 1122 North Madison Street

StatusActive
MLS #202538505
Days on Market101
Taxes$6,520 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Apartment Building
Year Built1945
CountyMonroe County

Location

Listing Courtesy of RE/MAX Acclaimed Properties
Add your commute

Building Information for 1122 North Madison Street

Building/Complex1122 N Madison StFloor-Stories2Residences7Pet Policy-Pet Policy Details-Year Built1945Building Size-

Payment Calculator

$3,755 per month

30 year fixed, 6.28% Interest

Principal and Interest

$3,212

Property Taxes

$543

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1122 North Madison Street

Summary
Location and General Information
  • Area: Monroe County
  • City: Bloomington
  • Zip + 4: 3448
  • Zip Code: 47404
  • City Zoning: RM - Residential Multifamily
  • State: IN
  • Township: Bloomington
  • Cross Street: 16th
  • Geo Latitude: 39
  • Geo Longitude: -87
  • Road Access: City
  • Inside City Limits: Yes
  • Fips Code: 18105
  • Directions To Property: GPS Friendly. At the corner of N Madison and 16th Street.
  • Sea Wall Type: None
  • Location: City/Town/Suburb, Near College Campus, Near Walking Trail
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2025
  • Parcel Number Id: 53-05-33-204-079.000-005
School Information
  • School District: Monroe County Community School Corp.
  • Elementary: Fairview
  • Middle School: Tri-North
  • High School: Bloomington North
Parking
  • Number Of Parking Spaces: 8
  • Parking: Off Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Building
  • Approx Lot Size Acres: 0.2
  • Lot Dimensions: Rectangular
  • Lot Number: 54
  • Below Grade Unfin Sqft: 814.0
  • Total Square Feet: 5230.0
  • Approx Lot Size Sqft: 8712.0
  • Above Grade Finished Sqft: 4416.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 814.0
  • Total Finished Sqft: 4416.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Corner, 0-2.9999
Property and Assessments
  • New Construction: No
  • Year Built: 1945
  • Age: 81
  • Documents Available: LBP Form
  • Expiration Of Permit: 02-01-2028
  • Government Subsidized: No
  • Planned Unit Development: No
Green Features
  • Exemptions: No Exemptions
Utilities
  • Electric Company: Duke Energy Indiana
  • Gas Company: CenterPoint Energy
  • Sewer: Public
  • Water Company: Bloomington City Utility
  • Water Utility: Public
  • Water Type: Creek
Interior and Exterior Features
Exterior Features
  • Amenities: Off Street Parking, Near Walking Trail, Countertops-Laminate
  • Exterior: Brick, Other
  • Fence: None
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Road Surface: Asphalt
Interior Features
  • Number of Electric Meters: 7
  • Number of Gas Meters: 7
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 1
  • Number of Microwaves: 2
  • Number of Ranges/Ovens: 7
  • Number of Refrigerators: 7
  • Number of W/D Hookups: 1
  • Number of Washers: 1
  • Number Water Meters: 7
  • Basement Material: Block
  • Basement: Yes
  • Basement/Foundation: Crawl, Partial Basement
  • Cooling: Window
  • Flooring: Carpet, Vinyl Tile, Wood
  • Heating/Fuel: Gas, Forced Air
  • Stories: 2
  • Number of Above Grade Bedrooms: 9
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 9
  • Total Number of Full Baths: 7
  • Total Number of Half Baths: 1
  • Total Baths: 8
  • Number Total Rooms Below Grade: 1
  • Num Of 1 Bedrooms: 6
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 1
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Number of People Allowed: 35
  • Num of Efficiencies: 0
  • Num of Units Rented: 5
  • Number of Buildings: 1
  • Number of Units: 7
  • RI/MF Occup Permit: Yes
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $74,400
  • Annual Insurance Expense: $4,304
  • Annual Maint. Expense: $1
  • Annual Misc: $660
  • Annual Net Income: $61,115
  • Annual Property Tax: $6,520
  • Annual Trash Expense: $1,800
  • Annual Water/Sewer Exp: $0
  • Gross Monthly Income: $6,200
  • Gross Monthly Rent: $6,200
Unit Information
Unit 1
  • Unit 1 SqFt: 483
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Num of Rooms: 3
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: Yes
  • Unit 1-Deposit Amount: $575.00
  • Unit 1-Electric: Tenant
  • Unit 1-Garage Type: None
  • Unit 1-Garage: No
  • Unit 1-Garage/Num of Cars: 0
  • Unit 1-Gas: Tenant
  • Unit 1-Laundry Room: None
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: One
  • Unit 1-Unit Rent $: $600
Unit 2
  • Unit 2 SqFt: 483
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Num of Rooms: 3
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: No
  • Unit 2-Deposit Amount: $.00
  • Unit 2-Electric: Tenant
  • Unit 2-Garage Type: None
  • Unit 2-Garage: No
  • Unit 2-Garage/Num of Cars: 0
  • Unit 2-Gas: Tenant
  • Unit 2-Laundry Room: None
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: Two
  • Unit 2-Unit Rent $: $750
Unit 3
  • Unit 3 SqFt: 483
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 1
  • Unit 3-Num of Rooms: 3
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: Yes
  • Unit 3-Deposit Amount: $750.00
  • Unit 3-Electric: Tenant
  • Unit 3-Garage Type: None
  • Unit 3-Garage: No
  • Unit 3-Garage/Number of Cars: 0
  • Unit 3-Gas: Tenant
  • Unit 3-Laundry Room: None
  • Unit 3-Lease Exp. Date: 08-01-2025
  • Unit 3-Level: Main
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: Three
  • Unit 3-Unit Rent $: $750
Unit 4
  • Unit 4 SqFt: 483
  • Unit 4-Num of Bedrooms: 1
  • Unit 4-Num of Rooms: 3
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: Yes
  • Unit 4-Deposit Amount: $.00
  • Unit 4-Electric: Tenant
  • Unit 4-Garage Type: None
  • Unit 4-Garage: No
  • Unit 4-Garage/Num of Cars: 0
  • Unit 4-Gas: Tenant
  • Unit 4-Laundry Room: None
  • Unit 4-Lease Exp Date: 02-01-2025
  • Unit 4-Level: Upper
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: Four
  • Unit 4-Unit Rent $: $750
Unit 5
  • Unit 5 SqFt: 483
  • Unit 5-Num of Bedrooms: 1
  • Unit 5-Num of Rooms: 3
  • Unit 5-Basement: No
  • Unit 5-Currently Rented: Yes
  • Unit 5-Deposit Amount: $750.00
  • Unit 5-Electric: Tenant
  • Unit 5-Garage Type: None
  • Unit 5-Garage: No
  • Unit 5-Garage/Num of Cars: 0
  • Unit 5-Gas: Tenant
  • Unit 5-Laundry Room: None
  • Unit 5-Level: Upper
  • Unit 5-Rent Frequency: Monthly
  • Unit 5-Unit Number: Five
  • Unit 5-Unit Rent $: $750
Unit 6
  • Unit 6 SqFt: 1516
  • Unit 6-Num of Bathrooms: 2
  • Unit 6-Num of Bedrooms: 4
  • Unit 6-Num of Rooms: 7
  • Unit 6-Basement: Yes
  • Unit 6-Currently Rented: Yes
  • Unit 6-Electric: Tenant
  • Unit 6-Garage Type: None
  • Unit 6-Garage: No
  • Unit 6-Garage/Num of Cars: 0
  • Unit 6-Gas: Tenant
  • Unit 6-Laundry Room: Utility Room
  • Unit 6-Lease Exp Date: 07-31-2025
  • Unit 6-Level: Main
  • Unit 6-Rent Frequency: Monthly
  • Unit 6-Unit Number: House
  • Unit 6-Unit Rent $: $1,850
  • Unit 6-Deposit Amount: $1,700
Rental
Rental Information
  • Lease Term: 1 Year, Month to Month
  • Owner Pays: Tax
  • Tenant Pays: Cable, Electric, Fuel, Sewer, Water

Property History for 1122 North Madison Street

DateEvent & SourcePriceAppreciation
Sep 23, 2025

Listed (Active)

Indiana Regional MLS #202538505

$650,000—
Sep 16, 1999

Expired

Indiana Regional MLS #445178

—
Mar 16, 1999

Listed (Active)

Indiana Regional MLS #445178

$199,950—
DateEvent & SourcePrice
09/23/2025

Listed (Active)

Indiana Regional MLS #202538505

$650,000
09/16/1999

Expired

Indiana Regional MLS #445178

—
03/16/1999

Listed (Active)

Indiana Regional MLS #445178

$199,950

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1122 North Madison Street

Taxable ValueLand$148,100Additions$169,700Total$317,800
Tax Record2024$6,520 ($543 / month)
Home Facts
Beds3Baths1.5Total Finished SqFt1,516 SqFtAbove Grade Finished SqFt1,516 SqFtStories2Lot Size8,712 SqFtStyleSingle Family ResidenceYear Built1945Year Renovated1965CountyMONROEAPN53-05-33-204-079.000-005

Schools near 1122 North Madison Street

This home is within Monroe County Com Sch Corp.
Rating
School
Type
Grades
Distance
Fairview Elementary School
Public - PK to 6
Tri-North Middle School
Public - 7 to 8
Bloomington High School North
Public - 9 to 12
The Academy of Science and Entrepreneurship
Public - 9 to 12
Rating
School
Distance
Fairview Elementary School
PublicPK to 6

Tri-North Middle School
Public7 to 8

Bloomington High School North
Public9 to 12

The Academy of Science and Entrepreneurship
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

More information about 1122 North Madison Street, Bloomington, IN 47404

1122 North Madison Street is a multi-family home for sale in Bloomington, IN 47404. This property was listed for sale on September 23, 2025 by RE/MAX Acclaimed Properties, it's currently listed at $650,000. This listing's school district is Monroe County Com Sch Corp. Nearby schools include Fairview Elementary School, Tri-North Middle School and Bloomington High School North. 1122 North Madison Street is a 9-bed, 8-bath, 4,416 sqft multi-family home built in 1945.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of RE/MAX Acclaimed Properties

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.