629-631 Madison St

Rochester, IN 46975

$209,900
Price
2
Beds
1,297 Sq. Ft.
$162 / Sq. Ft.
1,297
Sq. Ft.
$162
per Sq. Ft.
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Description

Prime Downtown Duplex- High-Demand Investment Opportunity: Unlock a high-performing addition to your portfolio with this well-maintained 2-unit property, perfectly situated just one block from Main Street. This prime location offers unmatched tenant appeal with an easy walk to local restaurants, shopping, The Times Theater, and the Nickel Plate Trail. This property is positioned for a gross monthly rent projection of $1,700, providing an attractive 6.8% Cap Rate for the savvy investor. Each unit...Prime Downtown Duplex- High-Demand Investment Opportunity: Unlock a high-performing addition to your portfolio with this well-maintained 2-unit property, perfectly situated just one block from Main Street. This prime location offers unmatched tenant appeal with an easy walk to local restaurants, shopping, The Times Theater, and the Nickel Plate Trail. This property is positioned for a gross monthly rent projection of $1,700, providing an attractive 6.8% Cap Rate for the savvy investor. Each unit features 1 bedroom and 1 bathroom with the added convenience of separate electric/gas meters and dedicated parking/storage in the detached 2-car garage. The larger south unit (#631) blends classic charm with modern updates, featuring hardwood floors in the living and dining rooms, a built-in china cabinet, a vintage-style kitchen with updated vinyl flooring, and brand-new bedroom carpeting. The north unit (#629) has been refreshed with new kitchen flooring, a new bathroom vanity, and updated bathroom flooring. The property is equipped for immediate occupancy with kitchen appliances and two window A/C units included. Tenants enjoy shared access to a locked laundry room featuring a washer and dryer. The utility structure is designed for ease of management: tenants are responsible for electric, gas for heat, internet, trash, and lawn maintenance, while the seller covers property taxes, insurance, water, and sewer. Whether you are looking for a turnkey rental or a strategic house-hack, this downtown gem offers both character and a solid return on investment.
  1. Listed by Lisa Goodman • LAKESHORE RLTRS, INCR
  2. Listed by Abigail Renie • LAKESHORE RLTRS, INCR

Property Details for 629-631 Madison Street

Style
One Story
Subdivision
None
Waterfront
No
Pet Restrictions
No
LISTING UPDATED: 03/11/2026 06:47 PM

Property Details for 629-631 Madison Street

StatusActive
MLS #202607907
Days on Market10
Taxes$1,973 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Duplex
Year Built1900
Lot Size0.11 AC / 4,792 SF
CountyFulton County
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Location

Listing Courtesy of LAKESHORE RLTRS, INCR
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Building Information for 629-631 Madison Street

Stories1Residences2Year Built1900Building Size-Lot Size0.11 AC / 4,792 SF

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$1,183 per month

30 year fixed, 6.11% Interest

Principal and Interest

$1,019

Property Taxes

$164

HOA Dues

$0

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Property Information for 629-631 Madison Street

Summary
Location and General Information
  • Area: Fulton County
  • City: Rochester
  • Zip Code: 46975
  • State: IN
  • Township: Rochester
  • Geo Latitude: 41
  • Geo Longitude: -86
  • Fips Code: 18049
  • Directions To Property: Main St to 7th St; go east on 7th St to corner of 7th & Madison on north side of road
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2025
  • Parcel Number Id: 25-07-92-207-009.000-009
School Information
  • School District: Rochester Community School Corp.
  • Elementary: Columbia / Riddle
  • Middle School: Rochester Community
  • High School: Rochester Community
Parking
  • Number Of Parking Spaces: 2
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Duplex
  • Approx Lot Size Acres: 0.11
  • Lot Dimensions: 41 x 120
  • Below Grade Unfin Sqft: 570.0
  • Total Square Feet: 1867.0
  • Approx Lot Size Sqft: 4792.0
  • Above Grade Finished Sqft: 1297.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 570.0
  • Total Finished Sqft: 1297.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Corner
  • Outbuilding Length: 23.0
  • Outbuilding Sqft: 460
  • Outbuilding Width: 20.0
Property and Assessments
  • New Construction: No
  • Year Built: 1900
  • Age: 126
  • Planned Unit Development: No
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Basement, Off Street Parking, Near Walking Trail, Porch Open, Water Heater Gas
  • Exterior: Vinyl
  • Outbuilding: 2nd Detached Garage
  • Platted: Yes
  • Pool: No
Interior Features
  • Number of Electric Meters: 2
  • Number of Gas Meters: 2
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 1
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 2
  • Number of Refrigerators: 2
  • Number of W/D Hookups: 1
  • Number of Washers: 1
  • Number Water Meters: 1
  • Basement: Yes
  • Basement/Foundation: Partial Basement
  • Cooling: Window
  • Flooring: Carpet, Vinyl Tile, Wood
  • Heating/Fuel: Gas, Forced Air
  • Stories: 1
  • Number of Above Grade Bedrooms: 2
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 2
  • Total Number of Full Baths: 2
  • Total Number of Half Baths: 0
  • Total Baths: 2
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 2
  • 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: 0
  • Number of Units: 2
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $20,400
  • Annual Insurance Expense: $1,440
  • Annual Maint. Expense: $1,000
  • Annual Misc: $0
  • Annual Net Income: $14,547
  • Annual Property Tax: $1,973
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $1,440
  • Gross Monthly Income: $1,700
  • Gross Monthly Rent: $1,700
  • ROI: $7
Unit Information
Unit 1
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Basement: Yes
  • Unit 1-Currently Rented: No
  • Unit 1-Electric: Tenant
  • Unit 1-Garage Type: Detached
  • Unit 1-Garage: Yes
  • Unit 1-Garage/Num of Cars: 1
  • Unit 1-Gas: Tenant
  • Unit 1-Laundry Room: Utility Room
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: 629
  • Unit 1-Unit Rent $: $850
Unit 2
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Basement: Yes
  • Unit 2-Currently Rented: No
  • Unit 2-Electric: Tenant
  • Unit 2-Garage Type: Detached
  • Unit 2-Garage: Yes
  • Unit 2-Garage/Num of Cars: 1
  • Unit 2-Gas: Tenant
  • Unit 2-Laundry Room: Utility Room
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: 631
  • Unit 2-Unit Rent $: $850
Rental
Rental Information
  • Lease Term: None
  • Owner Pays: Building Insurance, Sewer, Tax, Water
  • Tenant Pays: Electric, Heating

Property History for 629-631 Madison Street

DateEvent & SourcePriceAppreciation
Mar 11, 2026

Listed (Active)

Indiana Regional MLS #202607907

$209,900—
Nov 30, 2022

Sold

Indiana Regional MLS #202244994

$109,400—
Nov 30, 2022

Pending

Indiana Regional MLS #202244994

—
Nov 1, 2022

In Contract

Indiana Regional MLS #202244994

—
Oct 31, 2022

Listed (Active)

Indiana Regional MLS #202244994

$114,900—
DateEvent & SourcePrice
03/11/2026

Listed (Active)

Indiana Regional MLS #202607907

$209,900
11/30/2022

Sold

Indiana Regional MLS #202244994

$109,400
11/30/2022

Pending

Indiana Regional MLS #202244994

—
11/01/2022

In Contract

Indiana Regional MLS #202244994

—
10/31/2022

Listed (Active)

Indiana Regional MLS #202244994

$114,900

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

Schools near 629-631 Madison Street

This home is within Rochester Community Sch Corp.
Rating
School
Type
Grades
Distance
Columbia Elementary School
Public - PK to 1
George M Riddle Elementary School
Public - 2 to 4
Rochester Community Md School
Public - 5 to 7
Rochester Community High School
Public - 8 to 12
Rating
School
Distance
Columbia Elementary School
PublicPK to 1

George M Riddle Elementary School
Public2 to 4

Rochester Community Md School
Public5 to 7

Rochester Community High School
Public8 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 629-631 Madison Street, Rochester, IN 46975

629-631 Madison Street is a multi-family home for sale in Rochester, IN 46975. This property was listed for sale on March 11, 2026 by LAKESHORE RLTRS, INCR, it's currently listed at $209,900. It has been on the market for a total of 10 days and was last sold on November 30, 2022. This listing's school district is Rochester Community Sch Corp. Nearby schools include Columbia Elementary School, George M Riddle Elementary School and Rochester Community Md School. 629-631 Madison Street is a 2-bed, 2-bath, 1,297 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 LAKESHORE RLTRS, INCR

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.