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Description

Value-Add 4-Unit Residential Investment | Cash Flow + Upside | Walkable Downtown Location This 4-unit residential investment property offers investors a rare combination of current income, immediate upside, and long-term appreciation potential in a strategic, walkable location near downtown. At full occupancy, the property generates $2,540 in monthly revenue, with one unit currently vacant, providing a clear opportunity for a buyer to increase income from day one. With targeted capital improvements,...Value-Add 4-Unit Residential Investment | Cash Flow + Upside | Walkable Downtown Location This 4-unit residential investment property offers investors a rare combination of current income, immediate upside, and long-term appreciation potential in a strategic, walkable location near downtown. At full occupancy, the property generates $2,540 in monthly revenue, with one unit currently vacant, providing a clear opportunity for a buyer to increase income from day one. With targeted capital improvements, market rents support projected income of $3,000+ per month, making this an attractive cash-flowing asset and value-add play. The property is already supported by a high-quality, professional property management company, allowing for a passive ownership experience-ideal for both seasoned investors and those looking to scale without adding operational burden. Situated within walking distance to downtown, the property benefits from a location that continues to strengthen as the area sees ongoing public and private investment, supporting future rent growth and appreciation over time. Investment Highlights: 4-unit residential property $2,540/month at full occupancy One vacant unit provides immediate upside Market rent potential of $3,000+ per month Value-add opportunity through capital improvements Professional property management in place Walkable to downtown with long-term appreciation potential This is an excellent opportunity to acquire a stabilizing asset with built-in upside in a growing downtown corridor-perfect for investors seeking reliable cash flow today and equity growth tomorrow. For financials, additional details, or to schedule a showing, reach out today.
  1. Listed by Andrew Flora • 1 Percent Lists Indiana Real Estate

Property Details for 218 4th Street

Subdivision Name
No Subdivision
Township
Center
LISTING UPDATED: 02/04/2026 09:09 PM

Property Details for 218 4th Street

StatusActive
MLS #22082490
Days on Market2
Taxes$732 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1868
Lot Size0.16 AC / 6,969 SF
CountyJennings County

Location

Listing Courtesy of 1 Percent Lists Indiana Real Estate
Add your commute

Building Information for 218 4th Street

Stories-Residences4Year Built1868Building Size-Lot Size0.16 AC / 6,969 SF

Payment Calculator

$853 per month

30 year fixed, 6.15% Interest

Principal and Interest

$731

Property Taxes

$122

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 218 4th Street

Summary
Location and General Information
  • City: North Vernon
  • County Or Parish: Jennings
  • Directions: GPS Friendly
  • Postal Code: 47265
  • Postal Code Plus4: 1244
  • Road Access: Not Applic
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 400934240067000004
  • Semi Annual Property Tax Amt: 732
  • Tax Year: 2024
  • TaxLot: 40-09-34-240-067.000-004
School Information
  • High School: Jennings County High School
  • Middle Or Junior School: Jennings County Middle School
  • School District: Jennings County School Corporation
Owner
  • Owner Pays: All Utilities
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Residential
  • Lot Size Square Feet: 7100.0
  • Lot Size Acres: 0.16
  • New Construction: False
  • Year Built Numeric: 1868
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: Yes
  • DPRYN: No
  • Legal Subdivision: N V 512 Pp
  • Photos Count: 3
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Utilities
  • Solid Waste: No
Interior and Exterior Features
Interior Features
  • Levels: Two
Multi Family
Multi-Family Information
  • Total Units: 4
Income & Expenses
  • Expenses: 900
  • Gross Income: $2,700.00
Unit 1
  • Unit Kitchen: 100
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: Efficiency

Property History for 218 4th Street

DateEvent & SourcePriceAppreciation
Feb 3, 2026

Listed (Active)

MIBORMLS #22082490

$150,000—
Apr 13, 2016

Expired

MIBORMLS #21393901

—
Jan 11, 2016

Listed (Active)

MIBORMLS #21393901

$49,900—
May 7, 2015

Sold

MIBORMLS #21334455

$23,000—
Jan 30, 2015

Pending

MIBORMLS #21334455

—
Feb 2, 2013

Listed (Active)

MIBORMLS #21334455

$27,000—
Oct 31, 2011

Expired

MIBORMLS #21056834

—
Aug 1, 2010

Listed (Active)

MIBORMLS #21056834

$32,000—
DateEvent & SourcePrice
02/03/2026

Listed (Active)

MIBORMLS #22082490

$150,000
04/13/2016

Expired

MIBORMLS #21393901

—
01/11/2016

Listed (Active)

MIBORMLS #21393901

$49,900
05/07/2015

Sold

MIBORMLS #21334455

$23,000
01/30/2015

Pending

MIBORMLS #21334455

—
02/02/2013

Listed (Active)

MIBORMLS #21334455

$27,000
10/31/2011

Expired

MIBORMLS #21056834

—
08/01/2010

Listed (Active)

MIBORMLS #21056834

$32,000

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

Public Records for 218 4th Street

Taxable ValueLand$8,600Additions$64,600Total$73,200
Tax Record2024$1,464 ($122 / month)
Home Facts
Baths3Total Finished SqFt1,530 SqFtAbove Grade Finished SqFt1,530 SqFtStories2Lot Size7,100 SqFtStyleDuplexYear Built1868Year Renovated1950CountyJENNINGSAPN40-09-34-240-067.000-004

Schools near 218 4th Street

This home is within Jennings County Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
North Vernon Elementary School
PublicPK to 6

Jennings County Middle School
Public7 to 8

Jennings County High School
Public9 to 12

St Mary Elementary School
PrivatePK to 8

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

218 4th Street is a multi-family home for sale in North Vernon, IN 47265. This property was listed for sale on February 3, 2026 by 1 Percent Lists Indiana Real Estate, it's currently listed at $150,000. It has been on the market for a total of 2 days and was last sold on May 7, 2015. This listing's school district is Jennings County Schools. Nearby schools include North Vernon Elementary School, Jennings County Middle School and Jennings County High School. 218 4th Street is a 0-bed, 0-bath, multi-family home built in 1868.

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 1 Percent Lists Indiana Real Estate

Based on information submitted to the MLS GRID as of 02/04/2026 09:09 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.