1321 N 3rd St

Vincennes, IN 47591

$2,900,000
Price
32
Beds
15,360 Sq. Ft.
$189 / Sq. Ft.
15,360
Sq. Ft.
$189
per Sq. Ft.

Description

Discover a lucrative investment opportunity with this exceptional 32-unit apartment complex located at 1321 N. 3rd St., Vincennes, IN 47591. This property boasts 12 fully renovated one-bedroom, one-bath units, showcasing modern flooring, stylish trims, contemporary fixtures, sleek cabinetry, and high-end appliances. 7 units are 80-90% renovated with appliances on site as well as other materials. The renovations not only enhance aesthetic appeal but also ensure higher rental demand and increased revenue...Discover a lucrative investment opportunity with this exceptional 32-unit apartment complex located at 1321 N. 3rd St., Vincennes, IN 47591. This property boasts 12 fully renovated one-bedroom, one-bath units, showcasing modern flooring, stylish trims, contemporary fixtures, sleek cabinetry, and high-end appliances. 7 units are 80-90% renovated with appliances on site as well as other materials. The renovations not only enhance aesthetic appeal but also ensure higher rental demand and increased revenue potential. The exterior of the building has seen significant upgrades, including improvements to the parking lot and mailbox area, creating a welcoming environment for residents. With half of the units already rehabilitated, investors have the unique opportunity to complete renovations on the remaining 13 units, further increasing property value and maximizing rental income. Located in a desirable area, this apartment complex offers convenience to local amenities, schools, and public transportation, making it an attractive residence for tenants seeking comfort and accessibility. Positioned for growth, this property is ideal for investors looking to capitalize on the increased rental opportunities by enhancing remaining units and updating common areas. Don’t miss out on this chance to acquire a well-maintained asset with room for significant returns.
  1. Listed by Michael Melton • ERA FIRST ADVANTAGE REALTY, INC • Office: 812-858-2400
  2. Listed by Ryan Miller • ERA FIRST ADVANTAGE REALTY, INC

Property Details for 1321 North 3rd Street

Style
Two Story
Subdivision
Mass & Watson
Waterfront
No
Pet Restrictions
Yes
LISTING UPDATED: 12/20/2025 05:30 PM

Property Details for 1321 North 3rd Street

StatusActive
MLS #202549191
Days on Market5
Taxes$19,829 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Apartment Complex
Year Built1973
CountyKnox County

Location

Listing Courtesy of ERA FIRST ADVANTAGE REALTY, INC
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Building Information for 1321 North 3rd Street

Building/Complex1321 N 3rd StFloor-Stories2Residences32Pet Policy-Pet Policy Details-Year Built1973Building Size-

Payment Calculator

$15,982 per month

30 year fixed, 6.28% Interest

Principal and Interest

$14,330

Property Taxes

$1,652

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1321 North 3rd Street

Summary
Location and General Information
  • Area: Knox County
  • City: Vincennes
  • Zip Code: 47591
  • State: IN
  • Township: Vincennes
  • Geo Latitude: 39
  • Geo Longitude: -88
  • Fips Code: 18083
  • Directions To Property: From Hwy 41 take Hart St into Vincennes. Turn Right on 2nd St. Turn Right on Locust. Property is on the corner of Locust and 3rd St.
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2025
  • Parcel Number Id: 47-12-22-205-113.000-022
  • Parcel Id 2: 42-12-22-205-112.000-022
School Information
  • School District: Vincennes Community School Corp.
  • Elementary: Tecumseh-Harrison
  • Middle School: Clark
  • High School: Lincoln
Parking
  • Number Of Parking Spaces: 32
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Complex
  • Approx Lot Size Acres: 0.7
  • Lot Dimensions: 200 x 146
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 15360.0
  • Approx Lot Size Sqft: 30492.0
  • Above Grade Finished Sqft: 15360.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 15360.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level
Property and Assessments
  • New Construction: No
  • Year Built: 1973
  • Age: 52
  • Planned Unit Development: No
Utilities
  • Sewer: Public
  • Water Utility: Public
Interior and Exterior Features
Exterior Features
  • Amenities: Off Street Parking, Cable Available, Eat-In Kitchen, Porch Covered, Water Heater Electric
  • Exterior: Brick, Vinyl
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
Interior Features
  • Number of Electric Meters: 32
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 32
  • Number of Refrigerators: 32
  • Number of W/D Hookups: 0
  • Number of Washers: 0
  • Basement: No
  • Basement/Foundation: Crawl
  • Cooling: Wall AC
  • Flooring: Laminate
  • Heating/Fuel: Other Heating System
  • Stories: 2
  • Number of Above Grade Bedrooms: 32
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 32
  • Total Number of Full Baths: 32
  • Total Number of Half Baths: 0
  • Total Baths: 32
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 1
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 11
  • Number of Units: 32
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $89,160
  • Annual Insurance Expense: $7,600
  • Annual Maint. Expense: $2,500
  • Annual Misc: $1,000
  • Annual Net Income: $52,350
  • Annual Property Tax: $19,829
  • Annual Trash Expense: $2,676
  • Annual Water/Sewer Exp: $3,205
  • Gross Monthly Income: $7,430
  • Gross Monthly Rent: $7,430
Rental
Rental Information
  • Lease Term: 1 Year, Month to Month
  • Owner Pays: Sewer, Trash Collection, Water
  • Tenant Pays: Electric

Property History for 1321 North 3rd Street

DateEvent & SourcePriceAppreciation
Dec 15, 2025

Listed (Active)

Indiana Regional MLS #202549191

$2,900,000—
May 3, 2023

Sold

Indiana Regional MLS #202248407

$1,025,000—
Apr 25, 2023

Pending

Indiana Regional MLS #202248407

—
Dec 1, 2022

Listed (Active)

Indiana Regional MLS #202248407

$1,100,000—
Mar 21, 2014

Sold

Indiana Regional MLS #957995

$280,000—
Feb 18, 2014

Sold (Public Record)

Public Record #1164715205

$295,000—
Feb 18, 2014

Sold (Public Record)

Public Record #1164715203

$295,000—
Feb 18, 2014

Sold (Public Record)

Public Record #1164715204

$295,000—
Jan 28, 2014

Pending

Indiana Regional MLS #957995

—
Aug 27, 2013

Listed (Active)

Indiana Regional MLS #957995

$365,000—
Nov 10, 2006

Sold

Indiana Regional MLS #49069

$500,000—
Jan 2, 2006

Pending

Indiana Regional MLS #49069

—
Jan 2, 2006

Listed (Active)

Indiana Regional MLS #49069

$500,000—
DateEvent & SourcePrice
12/15/2025

Listed (Active)

Indiana Regional MLS #202549191

$2,900,000
05/03/2023

Sold

Indiana Regional MLS #202248407

$1,025,000
04/25/2023

Pending

Indiana Regional MLS #202248407

—
12/01/2022

Listed (Active)

Indiana Regional MLS #202248407

$1,100,000
03/21/2014

Sold

Indiana Regional MLS #957995

$280,000
02/18/2014

Sold (Public Record)

Public Record #1164715205

$295,000
02/18/2014

Sold (Public Record)

Public Record #1164715203

$295,000
02/18/2014

Sold (Public Record)

Public Record #1164715204

$295,000
01/28/2014

Pending

Indiana Regional MLS #957995

—
08/27/2013

Listed (Active)

Indiana Regional MLS #957995

$365,000
11/10/2006

Sold

Indiana Regional MLS #49069

$500,000
01/02/2006

Pending

Indiana Regional MLS #49069

—
01/02/2006

Listed (Active)

Indiana Regional MLS #49069

$500,000

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

Public Records for 1321 North 3rd Street

Taxable ValueLand$40,400Additions$294,500Total$334,900
Tax Record2024$14,485 ($1,207 / month)
Home Facts
Total Finished SqFt5,760 SqFtAbove Grade Finished SqFt5,760 SqFtStories2Lot Size7,579 SqFtStyleMulti-Family Res (5+ Units)Year Built1973CountyKNOXAPN42-12-22-205-112.000-022

Schools near 1321 North 3rd Street

This home is within Vincennes Community Sch Corp.
Rating
School
Type
Grades
Distance
James Whitcomb Riley Elementary School
Public - K to 5
Washington Learning Academy
Public - 6 to 12
Lincoln High School
Public - 9 to 12
Tecumseh-Harrison Elementary School
Public - K to 5
Rating
School
Distance
James Whitcomb Riley Elementary School
PublicK to 5

Washington Learning Academy
Public6 to 12

Lincoln High School
Public9 to 12

Tecumseh-Harrison Elementary School
PublicK to 5

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.

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More information about 1321 North 3rd Street, Vincennes, IN 47591

1321 North 3rd Street is a multi-family home for sale in Vincennes, IN 47591. This property was listed for sale on December 15, 2025 by ERA FIRST ADVANTAGE REALTY, INC, it's currently listed at $2,900,000. It has been on the market for a total of 5 days and was last sold on May 3, 2023. This listing's school district is Vincennes Community Sch Corp. Nearby schools include James Whitcomb Riley Elementary School, Washington Learning Academy and Lincoln High School. 1321 North 3rd Street is a 32-bed, 32-bath, 15,360 sqft multi-family home built in 1973.

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.

Listing Courtesy of ERA FIRST ADVANTAGE REALTY, INC

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.