803 Reason Ave, Unit INCLUDES 111

Loogootee, IN 47553

$249,500
Price
5
Beds
1,880 Sq. Ft.
$133 / Sq. Ft.
1,880
Sq. Ft.
$133
per Sq. Ft.

Description

Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living...Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living space with solid rental history - 40 X 26 (1040 SF) Expandable Portfolio – The additional vacant lot already has electric, water, and sewer, making it ideal for adding a third rental unit with minimal groundwork. Low-maintenance setup designed for reliable occupancy and attractive returns. Convenient in-town location, close to amenities and employment, boosting rental demand. Currently on 1 year leases that expire 1 Nov 2026. Whether you're expanding your investment portfolio or seeking a property with immediate income and clear potential for growth, this one checks all the boxes.

Property Details for 803 Reason Avenue, Unit INCLUDES 111

Style
Other
Architectural Style
Other
Subdivision
None
Waterfront
No
Pet Restrictions
No
LISTING UPDATED: 11/17/2025 08:57 PM

Property Details for 803 Reason Avenue, Unit INCLUDES 111

StatusActive
MLS #202546179
Days on Market37
Taxes$915 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Other
Year Built1991
Lot Size0.45 AC / 19,602 SF
CountyMartin County

Location

Listing Courtesy of F.C. TUCKER EMGE
Add your commute

Building Information for 803 Reason Avenue, Unit INCLUDES 111

Stories1Residences2Year Built1991Building Size-Lot Size0.45 AC / 19,602 SF

Payment Calculator

$1,309 per month

30 year fixed, 6.28% Interest

Principal and Interest

$1,233

Property Taxes

$76

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 803 Reason Avenue, Unit INCLUDES 111

Summary
Location and General Information
  • Area: Martin County
  • City: Loogootee
  • Zip Code: 47553
  • State: IN
  • Township: Perry
  • Geo Latitude: 39
  • Geo Longitude: -87
  • Road Access: City
  • Fips Code: 18101
  • Directions To Property: From Hwy 50 (west of Car Wash) in Loogootee go North on John C Strange Ave, Turn Left at stop sign onto Park Ave, Turn Right onto Lincoln Ave, Turn Left onto Reason Ave and Property will be on your left.
  • Location: City/Town/Suburb
Taxes and HOA
  • Association Dues $: $.00
  • Other Fees $: $.00
  • Assoc Dues Frequency: Not Applicable
  • Other Fees Frequency: None
  • Assoc Restrictions: No
  • Year Taxes Payable: 2025
  • Other Fee Description: none
  • Parcel Number Id: 51-08-25-200-185.000-008
  • Parcel Id 2: 51-08-25-200-184.000-008
School Information
  • School District: Loogootee Community S.D.
  • Elementary: Loogootee
  • Middle School: Loogootee
  • High School: Loogootee
Parking
  • Number Of Parking Spaces: 4
  • Parking: Off Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Other
  • Approx Lot Size Acres: 0.45
  • Lot Dimensions: 19,600 SF
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 1880.0
  • Approx Lot Size Sqft: 19602.0
  • Above Grade Finished Sqft: 1880.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 1880.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Corner, Level
Property and Assessments
  • New Construction: No
  • Year Built: 1991
  • Age: 34
  • Government Subsidized: No
  • Planned Unit Development: No
Utilities
  • Electric Company: Duke Energy Indiana
  • Gas Company: Other
  • Sewer: City
  • Water Company: Other
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Off Street Parking, Deck Covered, Water Heater Electric
  • Driveway: Gravel
  • Exterior: Aluminum, Vinyl
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Road Surface: Paved
  • Roof Material: Asphalt, Metal
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 2
  • Number of Refrigerators: 2
  • Number of W/D Hookups: 2
  • Number of Washers: 0
  • Basement: No
  • Basement/Foundation: None
  • Cooling: Central Air
  • Flooring: Carpet, Vinyl, Vinyl Tile
  • Heating/Fuel: Electricity, Gas, Forced Air
  • Stories: 1
  • Number of Above Grade Bedrooms: 5
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 5
  • 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: 0
  • Num Of 2 Bedrooms: 1
  • Num Of 3 Bedrooms: 1
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 2
  • Number of Buildings: 2
  • Number of Units: 2
  • RI/MF Occup Permit: No
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $18,600
  • Annual Insurance Expense: $891
  • Annual Maint. Expense: $1,376
  • Annual Misc: $0
  • Annual Net Income: $15,418
  • Annual Property Tax: $915
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $0
  • Gross Monthly Income: $1,550
  • Gross Monthly Rent: $1,550
Unit Information
Unit 1
  • Unit 1 SqFt: 840 SF
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 3
  • Unit 1-Num of Rooms: 5
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: Yes
  • Unit 1-Deposit Amount: $500.00
  • Unit 1-Electric: Tenant
  • Unit 1-Garage Type: None
  • Unit 1-Garage: No
  • Unit 1-Garage/Num of Cars: 0
  • Unit 1-Gas: Tenant
  • Unit 1-Laundry Room: Utility Room
  • Unit 1-Lease Exp Date: 11-01-2026
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: 805
  • Unit 1-Unit Rent $: $700
Unit 2
  • Unit 2 SqFt: 1040
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 2
  • Unit 2-Num of Rooms: 3
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: Yes
  • Unit 2-Deposit Amount: $850.00
  • Unit 2-Electric: Tenant
  • Unit 2-Garage Type: None
  • Unit 2-Garage: No
  • Unit 2-Garage/Num of Cars: 0
  • Unit 2-Gas: None
  • Unit 2-Laundry Room: Utility Room
  • Unit 2-Lease Exp Date: 11-01-2026
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: 111
  • Unit 2-Unit Rent $: $850
Unit 3
  • Unit 3 SqFt: lot 6533
  • Unit 3-Num of Bathrooms: 0
  • Unit 3-Num of Bedrooms: 0
  • Unit 3-Num of Rooms: 0
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: No
  • Unit 3-Deposit Amount: $.00
  • Unit 3-Garage Type: None
  • Unit 3-Garage: No
  • Unit 3-Garage/Number of Cars: 0
  • Unit 3-Laundry Room: None
  • Unit 3-Level: None
  • Unit 3-Rent Frequency: Other
  • Unit 3-Unit Number: 805
  • Unit 3-Unit Rent $: $0
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Tax
  • Tenant Pays: Cable, Electric, Heating, Sewer, Trash Collection, Water

Property History for 803 Reason Avenue, Unit INCLUDES 111

DateEvent & SourcePriceAppreciation
Nov 13, 2025

Listed (Active)

Indiana Regional MLS #202546179

$249,500—
DateEvent & SourcePrice
11/13/2025

Listed (Active)

Indiana Regional MLS #202546179

$249,500

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

Schools near 803 Reason Avenue, Unit INCLUDES 111

This home is within Loogootee Community Sch Corp.
Rating
School
Type
Grades
Distance
Loogootee Elementary School
Public - K to 4
Loogootee Middle School
Public - 5 to 8
Loogootee Jr/Sr High School
Public - 9 to 12
Flat Creek School
Private - 1 to 8
Rating
School
Distance
Loogootee Elementary School
PublicK to 4

Loogootee Middle School
Public5 to 8

Loogootee Jr/Sr High School
Public9 to 12

Flat Creek School
Private1 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.

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More information about 803 Reason Avenue, Unit INCLUDES 111, Loogootee, IN 47553

803 Reason Avenue, Unit INCLUDES 111 is a multi-family home for sale in Loogootee, IN 47553. This property was listed for sale on November 13, 2025 by F.C. TUCKER EMGE, it's currently listed at $249,500. This listing's school district is Loogootee Community Sch Corp. Nearby schools include Loogootee Elementary School, Loogootee Middle School and Loogootee Jr/Sr High School. 803 Reason Avenue, Unit INCLUDES 111 is a 5-bed, 2-bath, 1,880 sqft multi-family home built in 1991.

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 F.C. TUCKER EMGE

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.