225 West Pennsylvania Street

Shelbyville, IN 46176

$219,900
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Makeup: A 2 BR, 1BR, and Studio at $750, $745, and $500. Invest in a Lucrative Triplex Generating over almost $2000 Monthly Income In today's dynamic real estate market, finding an investment opportunity that promises both stability and significant returns is paramount. Introducing a prime investment opportunity: a meticulously maintained triplex boasting three units and generating almost $2,000 (rents are on the lower side) in monthly rental income. This triplex is not just a property; it's a pathway...Makeup: A 2 BR, 1BR, and Studio at $750, $745, and $500. Invest in a Lucrative Triplex Generating over almost $2000 Monthly Income In today's dynamic real estate market, finding an investment opportunity that promises both stability and significant returns is paramount. Introducing a prime investment opportunity: a meticulously maintained triplex boasting three units and generating almost $2,000 (rents are on the lower side) in monthly rental income. This triplex is not just a property; it's a pathway to financial prosperity and security. Unlocking the Potential: With three distinct units, each contributing to the impressive monthly income, this triplex offers investors a rare opportunity to diversify their income streams and maximize returns. Whether you choose to rent out all three units or occupy one while leasing the others, the potential for profit is undeniable. Location, Location, Location: Situated in a highly sought-after area, this triplex benefits from its prime location, surrounded by amenities, downtown restaurants and shopping, trail heads, and convenient transportation options. The demand for rental properties in such desirable neighborhoods ensures a steady stream of potential tenants, minimizing vacancies and maximizing rental income potential. Crunching the Numbers: Let's talk figures. With around $2000 in monthly rental income and room to improve those numbers, this triplex yields an annual income that surpasses $15,000 before debt service. Such impressive numbers speak volumes about the financial viability of this investment opportunity. Moreover, with the potential for rental rate increases and property appreciation over time, the long-term returns on investment are even more promising. Rates could be nearer $900, 750, and 700.
  1. Listed by Justin Polston • Mackenzie Allen, Polston & Ass • JPOLSTON@MACKENZIEALLENREALESTATE.COM

Property Details for 225 West Pennsylvania Street

Subdivision Name
S B Morris Penn
Township
Addison
Zoning
None

Location

Listing Courtesy of Mackenzie Allen, Polston & Ass
Add your commute
LISTING UPDATED: 04/03/2024 06:14 PM

Property Details for 225 West Pennsylvania Street

StatusActive
MLS #21971459
Days on Market35
Taxes$1,471 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1979
Lot Size0.13 AC / 5,662 SF
CountyShelby County

Location

Listing Courtesy of Mackenzie Allen, Polston & Ass
Add your commute

Building Information for 225 West Pennsylvania Street

Stories-Residences3Year Built1979Building Size-Lot Size0.13 AC / 5,662 SF

Payment Calculator

$1,445 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,200

Property Taxes

$245

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 225 West Pennsylvania Street

Summary
Location and General Information
  • City: Shelbyville
  • County Or Parish: Shelby
  • Directions: GPS Friendly
  • Postal Code: 46176
  • Postal Code Plus4: 1131
  • Road Access: Not Applic
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 730731400143000002
  • Semi Annual Property Tax Amt: 1471
  • Tax Year: 2024
  • TaxLot: 1111
School Information
  • High School: Shelbyville Sr High School
  • Middle Or Junior School: Shelbyville Middle School
  • School District: Shelbyville Central Schools
Owner
  • Owner Pays: Lawncare, Sewer, Water
Parking
  • Carport Spaces: 2.0
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Residential
  • Gross Area SQFT: 2224
  • Lot Size Square Feet: 5750.0
  • Lot Size Acres: 0.13
  • New Construction: False
  • Structure Type: Triplex
  • Year Built Numeric: 1979
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: Yes
  • Legal Subdivision: S B Morris Penn Lt4
  • Photos Count: 12
  • Property Attached: Yes
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Green Features
  • Green Certification: No
Utilities
  • Solid Waste: No
Interior and Exterior Features
Exterior Features
  • Foundation Details: Block
  • Roof: Asphalt
Interior Features
  • Basement Description: Unfinished
  • Basement YN: Yes
  • Heating: Forced Air, Gas
  • Levels: Two
Multi Family
Multi-Family Information
  • Total Units: 3
  • Garage Parking: 2 Car Space
Income & Expenses
  • Expenses: 7540
  • Net Operating Income: $16,600.00
  • Gross Income: $23,940.00
Unit 1
  • Unit Kitchen: 12x14
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 2 Bedroom
Unit 2
  • Unit Kitchen: 11x13
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 1 Bedroom
Unit 3
  • Unit Kitchen: 9x10
  • Unit Levels: 3
  • Unit Rent Frequency: Monthly
  • Unit Type Type: Studio
Rental
Rental Information
  • Tenant Pays: Electricity, Fees, Gas, Insurance

Property History for 225 West Pennsylvania Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 225 West Pennsylvania Street

Taxable ValueLand$11,800Additions$129,500Total$141,300
Tax Record2023$2,943 ($245 / month)
Home Facts
Beds5Baths3Total Finished SqFt2,224 SqFtAbove Grade Finished SqFt2,224 SqFtStories2Lot Size5,750 SqFtStyleSingle Family ResidenceYear Built1979CountySHELBYAPN73-07-31-400-143.000-002

Schools near 225 West Pennsylvania Street

This home is within Shelbyville Central Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 5
Rating
School
Distance
Coulston Elementary School
PublicK to 5

Shelbyville Middle School
Public6 to 8

Shelbyville Sr High School
Public9 to 12

St Joseph School
PrivatePK to 5

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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225 West Pennsylvania Street is a multi-family home for sale in Shelbyville, IN 46176. This property was listed for sale on April 1, 2024 by Mackenzie Allen, Polston & Ass, it's currently listed at $219,900. It has been on the market for a total of 35 days and was last sold on October 1, 2021. This listing's school district is Shelbyville Central Schools. Nearby schools include Coulston Elementary School, Shelbyville Middle School and Shelbyville Sr High School. 225 West Pennsylvania Street is a 0-bed, 0-bath, multi-family home built in 1979.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mackenzie Allen, Polston & Ass

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.