509 N High St

2,584 Sq. Ft.
$45 / Sq. Ft.
2,584
Sq. Ft.
$45
per Sq. Ft.

Description

Investment. Opportunity. Profitable. This three unit apartment building offers excellent income potential in a convenient, central location close to shopping, dining, and everyday amenities. With one unit currently rented and two units available, this property provides immediate and future rental opportunities. Units 1 and 2, located on the main level, each feature one bedroom, one bathroom, and an eat-in kitchen. Unit 3, situated upstairs, offers two bedrooms, one bathroom, and a kitchen, making...Investment. Opportunity. Profitable. This three unit apartment building offers excellent income potential in a convenient, central location close to shopping, dining, and everyday amenities. With one unit currently rented and two units available, this property provides immediate and future rental opportunities. Units 1 and 2, located on the main level, each feature one bedroom, one bathroom, and an eat-in kitchen. Unit 3, situated upstairs, offers two bedrooms, one bathroom, and a kitchen, making it ideal for larger households or increased rental value. Additional highlights include off-street asphalt parking and a shared laundry area for tenant convenience. Utilities are provided by Duke and Town of Washington Water. Whether you’re expanding your portfolio or stepping into your first multi-unit investment, this property presents a strong opportunity with flexible rental options and a desirable location.
  1. Listed by Natasha Johns • Williams Carpenter Realtors

Property Details for 509 North High Street

Style
One and Half Story
Subdivision
None
Waterfront
No
Pet Restrictions
No
LISTING UPDATED: 02/03/2026 11:11 PM

Property Details for 509 North High Street

StatusActive
MLS #202603429
Days on MarketListed Today
Taxes$4,074 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Apartment Building
Year Built1940
CountyWashington County

Location

Listing Courtesy of Williams Carpenter Realtors
Add your commute

Building Information for 509 North High Street

Building/Complex509 N High StFloor-Stories1Residences3Pet Policy-Pet Policy Details-Year Built1940Building Size-

Payment Calculator

$900 per month

30 year fixed, 6.15% Interest

Principal and Interest

$560

Property Taxes

$340

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 509 North High Street

Summary
Location and General Information
  • Area: Washington County
  • City: Salem
  • Zip Code: 47167
  • State: IN
  • Township: Washington
  • Geo Latitude: 39
  • Geo Longitude: -86
  • Fips Code: 18175
  • Directions To Property: 37 S in Mitchell. Turn L onto Hwy 60, L onto Mulberry, R onto High St. Property on the right.
  • Location: City/Town/Suburb
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: Current
  • Parcel Number Id: 88-24-17-224-022.000-022
School Information
  • School District: Salem Community Schools
  • Elementary: Bradie M Shrum
  • Middle School: Salem
  • High School: Salem
Parking
  • Number Of Parking Spaces: 3
  • Parking: Off Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Building
  • Approx Lot Size Acres: 0.3
  • Lot Dimensions: Irregular
  • Below Grade Unfin Sqft: 323.0
  • Total Square Feet: 2907.0
  • Approx Lot Size Sqft: 13068.0
  • Above Grade Finished Sqft: 2584.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 323.0
  • Total Finished Sqft: 2584.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Irregular
Property and Assessments
  • New Construction: No
  • Year Built: 1940
  • Age: 86
  • Planned Unit Development: No
Utilities
  • Electric Company: Duke Energy Indiana
  • Sewer: City
  • Water Company: Washington Township Water
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Ceiling Fan, Countertops-Laminate, Eat-In Kitchen, Patio Covered, Porch Covered
  • Exterior: Wood
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Metal
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 1
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 3
  • Number of Refrigerators: 3
  • Number of W/D Hookups: 0
  • Number of Washers: 1
  • Basement: Yes
  • Basement/Foundation: Unfinished
  • Cooling: Window
  • Flooring: Carpet, Laminate
  • Heating/Fuel: Electricity, Baseboard
  • Stories: 2
  • Number of Above Grade Bedrooms: 4
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 4
  • Total Number of Full Baths: 3
  • Total Number of Half Baths: 0
  • Total Baths: 3
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 2
  • Num Of 2 Bedrooms: 1
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 1
  • Number of Buildings: 1
  • Number of Units: 3
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $32,640
  • Annual Insurance Expense: $2,400
  • Annual Maint. Expense: $0
  • Annual Misc: $0
  • Annual Net Income: $24,966
  • Annual Property Tax: $4,074
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $1,200
  • Gross Monthly Income: $2,720
  • Gross Monthly Rent: $2,720
Unit Information
Unit 1
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Num of Rooms: 4
  • Unit 1-Currently Rented: No
  • Unit 1-Electric: Tenant
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Weekly
  • Unit 1-Unit Number: 1
  • Unit 1-Unit Rent $: $205
Unit 2
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Num of Rooms: 4
  • Unit 2-Currently Rented: No
  • Unit 2-Electric: Tenant
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: 2
  • Unit 2-Unit Rent $: $1,000
Unit 3
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 2
  • Unit 3-Num of Rooms: 5
  • Unit 3-Currently Rented: Yes
  • Unit 3-Electric: Tenant
  • Unit 3-Level: Upper
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: 3
  • Unit 3-Unit Rent $: $900
Rental
Rental Information
  • Lease Term: Month to Month
  • Owner Pays: Water
  • Tenant Pays: Electric

Property History for 509 North High Street

DateEvent & SourcePriceAppreciation
Feb 3, 2026

Listed (Active)

Indiana Regional MLS #202603429

$115,000
May 22, 2024

Expired

MIBORMLS #21922764

May 22, 2024

Expired

Southern Indiana REALTORS® Association #202307516

$154,900
Feb 4, 2024

Price Change

MIBORMLS #21922764

$154,900
Dec 17, 2023

Price Change

MIBORMLS #21922764

$164,900
Dec 17, 2023

Price Change

Southern Indiana REALTORS® Association #202307516

$164,900
Oct 4, 2023

Price Change

MIBORMLS #21922764

$174,900
Oct 4, 2023

Price Change

Southern Indiana REALTORS® Association #202307516

$174,900
Jul 10, 2023

Price Change

MIBORMLS #21922764

$179,900
Jul 10, 2023

Price Change

Southern Indiana REALTORS® Association #202307516

$179,900
Jun 18, 2023

Price Change

MIBORMLS #21922764

$189,000
Jun 18, 2023

Price Change

Southern Indiana REALTORS® Association #202307516

$189,000
May 22, 2023

Listed (Active)

Southern Indiana REALTORS® Association #202307516

$195,000
May 22, 2023

Listed (Active)

MIBORMLS #21922764

$195,000
Dec 31, 2022

Expired

Southern Indiana REALTORS® Association #202208136

$199,000
Apr 17, 2022

Listed (Active)

Southern Indiana REALTORS® Association #202208136

$199,000
Mar 20, 2019

Expired

Southern Indiana REALTORS® Association #2018011930

$159,900
Sep 20, 2018

Listed (Active)

Southern Indiana REALTORS® Association #2018011930

$159,900
Sep 14, 2018

Expired

Southern Indiana REALTORS® Association #201809649

$159,900
Jun 14, 2018

Listed (Active)

Southern Indiana REALTORS® Association #201809649

$159,900
Sep 11, 2017

Sold

Southern Indiana REALTORS® Association #201605191

$22,000
Aug 1, 2017

Pending

Southern Indiana REALTORS® Association #201605191

Jul 29, 2016

Listed (Active)

Southern Indiana REALTORS® Association #201605191

$59,900
DateEvent & SourcePrice
02/03/2026

Listed (Active)

Indiana Regional MLS #202603429

$115,000
05/22/2024

Expired

MIBORMLS #21922764

05/22/2024

Expired

Southern Indiana REALTORS® Association #202307516

$154,900
02/04/2024

Price Change

MIBORMLS #21922764

$154,900
12/17/2023

Price Change

MIBORMLS #21922764

$164,900
12/17/2023

Price Change

Southern Indiana REALTORS® Association #202307516

$164,900
10/04/2023

Price Change

MIBORMLS #21922764

$174,900
10/04/2023

Price Change

Southern Indiana REALTORS® Association #202307516

$174,900
07/10/2023

Price Change

MIBORMLS #21922764

$179,900
07/10/2023

Price Change

Southern Indiana REALTORS® Association #202307516

$179,900
06/18/2023

Price Change

MIBORMLS #21922764

$189,000
06/18/2023

Price Change

Southern Indiana REALTORS® Association #202307516

$189,000
05/22/2023

Listed (Active)

Southern Indiana REALTORS® Association #202307516

$195,000
05/22/2023

Listed (Active)

MIBORMLS #21922764

$195,000
12/31/2022

Expired

Southern Indiana REALTORS® Association #202208136

$199,000
04/17/2022

Listed (Active)

Southern Indiana REALTORS® Association #202208136

$199,000
03/20/2019

Expired

Southern Indiana REALTORS® Association #2018011930

$159,900
09/20/2018

Listed (Active)

Southern Indiana REALTORS® Association #2018011930

$159,900
09/14/2018

Expired

Southern Indiana REALTORS® Association #201809649

$159,900
06/14/2018

Listed (Active)

Southern Indiana REALTORS® Association #201809649

$159,900
09/11/2017

Sold

Southern Indiana REALTORS® Association #201605191

$22,000
08/01/2017

Pending

Southern Indiana REALTORS® Association #201605191

07/29/2016

Listed (Active)

Southern Indiana REALTORS® Association #201605191

$59,900

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

Public Records for 509 North High Street

Taxable ValueLand$15,000Additions$170,200Total$185,200
Tax Record2024$3,704 ($309 / month)
Home Facts
Baths3Total Finished SqFt1,938 SqFtAbove Grade Finished SqFt1,938 SqFtStories2Lot Size13,068 SqFtStyleTriplexYear Built1940Year Renovated2000CountyWASHINGTONAPN88-24-17-224-022.000-022

Schools near 509 North High Street

This home is within Salem Community Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 12
Rating
School
Distance
Bradie M Shrum Lower Elementary
PublicPK to 5

Salem Middle School
Public6 to 8

Salem High School
Public9 to 12

Living Waters Academy
PrivatePK 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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509 North High Street is a multi-family home for sale in Salem, IN 47167. This listing's school district is Salem Community Schools. Nearby schools include Bradie M Shrum Lower Elementary, Salem Middle School and Salem High School. 509 North High Street is a 4-bed, 3-bath, 2,584 sqft multi-family home built in 1940.

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 Williams Carpenter Realtors

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.