501 N Broadway St

Butler, IN 46721

$260,000
Price
8
Beds
3,712 Sq. Ft.
$70 / Sq. Ft.
3,712
Sq. Ft.
$70
per Sq. Ft.
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Description

This versatile multi-family investment opportunity in the heart of Butler offers strong cash flow potential with a cap rate of 10% or greater! This well-maintained six-unit apartment building features two spacious 2-bedroom units and four 1-bedroom units, making it an attractive option for a variety of tenants. Conveniently located near downtown Butler and within easy commuting distance to many local factories and major employers, the property benefits from consistent rental demand. Designed for...This versatile multi-family investment opportunity in the heart of Butler offers strong cash flow potential with a cap rate of 10% or greater! This well-maintained six-unit apartment building features two spacious 2-bedroom units and four 1-bedroom units, making it an attractive option for a variety of tenants. Conveniently located near downtown Butler and within easy commuting distance to many local factories and major employers, the property benefits from consistent rental demand. Designed for low-maintenance ownership, the exterior features durable vinyl siding and a metal roof. Tenants enjoy off-street parking for up to six residents, a shared laundry facility, and private full bathrooms in every unit. Each apartment also includes a kitchen equipped with a refrigerator, stove, and cabinet storage. A detached garage provides valuable additional storage space for maintenance materials, tools, or other operational needs. Tenants pay all utilities, helping maximize owner profitability, and the current owners utilize professional property management for streamlined operations. Whether you are looking to expand your portfolio or step into multifamily investing, this income-producing property presents an excellent opportunity with solid returns and long-term potential.
  1. Listed by Christina Koher • RE/MAX Results • Cell: 260-668-9235
  2. Listed by Debbie Kinney • RE/MAX Results

Property Details for 501 North Broadway Street

Style
Two Story
Subdivision
None
Waterfront
No
Pet Restrictions
Yes
LISTING UPDATED: 05/19/2026 02:32 PM

Property Details for 501 North Broadway Street

StatusActive
MLS #202618820
Days on Market15
Taxes$2,635 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti Family / Sixplex
Year Built1900
Lot Size0.18 AC / 7,841 SF
CountyDeKalb County
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Location

Listing Courtesy of RE/MAX Results
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Building Information for 501 North Broadway Street

Stories2Residences6Year Built1900Building Size-Lot Size0.18 AC / 7,841 SF

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$1,515 per month

30 year fixed, 6.36% Interest

Principal and Interest

$1,296

Property Taxes

$220

HOA Dues

$0

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Property Information for 501 North Broadway Street

Summary
Location and General Information
  • Area: Dekalb County
  • City: Butler
  • Zip Code: 46721
  • State: IN
  • Township: Wilmington
  • Geo Latitude: 41
  • Geo Longitude: -85
  • Fips Code: 18033
  • Directions To Property: Take State Rd 1 into the town of Butler. Building will be on left side of the road, about 5 blocks before the center of town.
  • Location: City/Town/Suburb
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2025 due 2026
  • Parcel Number Id: 17-07-01-301-014.000-027
School Information
  • School District: Dekalb Co. Eastern
  • Elementary: Butler
  • Middle School: Eastside
  • High School: Eastside
Parking
  • Number Of Parking Spaces: 6
  • Parking: Gravel, Lot, Off Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Sixplex
  • Approx Lot Size Acres: 0.18
  • Lot Dimensions: 60x127
  • Below Grade Unfin Sqft: 624.0
  • Total Square Feet: 4336.0
  • Approx Lot Size Sqft: 7841.0
  • Above Grade Finished Sqft: 3712.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 624.0
  • Total Finished Sqft: 3712.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level, 0-2.9999
Property and Assessments
  • New Construction: No
  • Year Built: 1900
  • Age: 126
  • Documents Available: Income/Expenses, LBP Form, Lease, Sellers Disclosure, Rent Roll
  • Government Subsidized: No
  • Planned Unit Development: No
Green Features
  • Exemptions: No Exemptions
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Basement, Off Street Parking, Countertops-Laminate
  • Common Amenities: Laundry Facilities
  • Exterior: Vinyl
  • Fence: None
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Asphalt, Shingle
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 1
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 6
  • Number of Refrigerators: 6
  • Number of W/D Hookups: 0
  • Number of Washers: 1
  • Basement: Yes
  • Basement/Foundation: Partial Basement
  • Cooling: Window
  • Flooring: Carpet, Laminate, Vinyl
  • Heating/Fuel: Forced Air
  • Stories: 2
  • Number of Above Grade Bedrooms: 8
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 8
  • Total Number of Full Baths: 6
  • Total Number of Half Baths: 0
  • Total Baths: 6
  • Number Total Rooms Below Grade: 1
  • Num Of 1 Bedrooms: 4
  • Num Of 2 Bedrooms: 2
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 4
  • Number of Buildings: 1
  • Number of Units: 6
Income & Expenses Information
  • Annual Electric Expense: $659.67
  • Annual Fuel Expense: $225.34
  • Annual Gross Rent $: $49,800
  • Annual Insurance Expense: $4,745
  • Annual Maint. Expense: $2,019
  • Annual Misc: $5,856
  • Annual Net Income: $28,092
  • Annual Property Tax: $2,635
  • Annual Trash Expense: $1,161
  • Annual Water/Sewer Exp: $4,407
  • Gross Monthly Income: $4,150
  • Gross Monthly Rent: $4,150
Unit Information
Unit 1
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: Yes
  • Unit 1-Deposit Amount: $575.00
  • Unit 1-Garage: No
  • Unit 1-Laundry Room: Utility Room
  • Unit 1-Lease Exp Date: 03-31-2027
  • Unit 1-Level: Upper
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: A
  • Unit 1-Unit Rent $: $650
Unit 2
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Currently Rented: Yes
  • Unit 2-Deposit Amount: $750.00
  • Unit 2-Garage: No
  • Unit 2-Laundry Room: Utility Room
  • Unit 2-Lease Exp Date: 11-30-2026
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: B
  • Unit 2-Unit Rent $: $750
Unit 3
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 1
  • Unit 3-Currently Rented: Yes
  • Unit 3-Garage: No
  • Unit 3-Laundry Room: Utility Room
  • Unit 3-Lease Exp. Date: 05-17-2027
  • Unit 3-Level: Main
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: C
  • Unit 3-Unit Rent $: $650
Unit 4
  • Unit 4-Num of Bedrooms: 2
  • Unit 4-Currently Rented: No
  • Unit 4-Garage: No
  • Unit 4-Laundry Room: Utility Room
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: D
  • Unit 4-Unit Rent $: $750
Unit 5
  • Unit 5-Num of Bedrooms: 1
  • Unit 5-Currently Rented: Yes
  • Unit 5-Deposit Amount: $1,200.00
  • Unit 5-Garage: No
  • Unit 5-Laundry Room: Utility Room
  • Unit 5-Lease Exp Date: 01-31-2027
  • Unit 5-Rent Frequency: Monthly
  • Unit 5-Unit Number: E
  • Unit 5-Unit Rent $: $600
Unit 6
  • Unit 6-Num of Bathrooms: 1
  • Unit 6-Num of Bedrooms: 2
  • Unit 6-Currently Rented: No
  • Unit 6-Garage: No
  • Unit 6-Laundry Room: Utility Room
  • Unit 6-Rent Frequency: Monthly
  • Unit 6-Unit Number: F
  • Unit 6-Unit Rent $: $750
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Snow Removal
  • Tenant Pays: Cable, Cooling, Electric, Heating, Sewer, Trash Collection, Water

Property History for 501 North Broadway Street

DateEvent & SourcePriceAppreciation
May 18, 2026

Listed (Active)

Indiana Regional MLS #202618820

$260,000—
Mar 8, 2024

Sold

Indiana Regional MLS #202336150

$175,000—
Feb 8, 2024

Pending

Indiana Regional MLS #202336150

—
DateEvent & SourcePrice
05/18/2026

Listed (Active)

Indiana Regional MLS #202618820

$260,000
03/08/2024

Sold

Indiana Regional MLS #202336150

$175,000
02/08/2024

Pending

Indiana Regional MLS #202336150

—

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

Public Records for 501 North Broadway Street

Taxable ValueLand$10,200Additions$141,400Total$151,600
Tax Record2025$2,635 ($220 / month)
Home Facts
Baths6Total Finished SqFt3,712 SqFtAbove Grade Finished SqFt3,712 SqFtStories2Lot Size7,623 SqFtStyleMulti-Family Dwelling (2-4)Year Built1980CountyDEKALBAPN17-07-01-301-014.000-027

Schools near 501 North Broadway Street

This home is within Dekalb County Eastern Com Sch District.
Rating
School
Type
Grades
Distance
Butler Elementary School
Public - K to 6
Eastside Junior-Senior High School
Public - 7 to 12
Riverdale Elementary School
Public - K to 6
Northeast Indiana Special Education Co-Op
Public - PK to 12
Rating
School
Distance
Butler Elementary School
PublicK to 6

Eastside Junior-Senior High School
Public7 to 12

Riverdale Elementary School
PublicK to 6

Northeast Indiana Special Education Co-Op
PublicPK 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.

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More information about 501 North Broadway Street, Butler, IN 46721

501 North Broadway Street is a multi-family home for sale in Butler, IN 46721. This property was listed for sale on May 18, 2026 by RE/MAX Results, it's currently listed at $260,000. It has been on the market for a total of 15 days and was last sold on March 8, 2024. This listing's school district is Dekalb County Eastern Com Sch District. Nearby schools include Butler Elementary School, Eastside Junior-Senior High School and Riverdale Elementary School. 501 North Broadway Street is a 8-bed, 6-bath, 3,712 sqft multi-family home built in 1900.

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 RE/MAX Results

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.