510 East Franklin Street

Spencer, IN 47460

$295,000
Price
2
Beds
1
Bath
1,020 Sq. Ft.
$289 / Sq. Ft.
1,020
Sq. Ft.
$289
per Sq. Ft.

Description

A great investment opportunity conveniently located in Spencer. This property includes a 2 bedroom, 1- bath house. A rented 1-bedroom trailer and 3 rented trailer lots. 5 potential rental incomes on one piece of property. The house has been completely remodeled. New carpet, new vinyl windows, new baseboard heaters, new vinyl floor, new stool, new vanity, and freshly painted inside and out just to name a few.A great investment opportunity conveniently located in Spencer. This property includes a 2 bedroom, 1- bath house. A rented 1-bedroom trailer and 3 rented trailer lots. 5 potential rental incomes on one piece of property. The house has been completely remodeled. New carpet, new vinyl windows, new baseboard heaters, new vinyl floor, new stool, new vanity, and freshly painted inside and out just to name a few.
  1. Listed by Rob Ranard • Home Team Properties

Property Details for 510 East Franklin Street

Style
Other
Architectural Style
Bungalow
Subdivision
None
Waterfront
No
Water Features
None
Pet Restrictions
No

Location

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LISTING UPDATED: 03/12/2024 07:57 PM

Property Details for 510 East Franklin Street

StatusActive
MLS #202407890
Days on Market47
Taxes$420 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Other
Year Built1950
Lot Size0.84 AC / 36,590 SF
CountyOwen County

Location

Listing Courtesy of Home Team Properties
Add your commute

Virtual Tour

Building Information for 510 East Franklin Street

Stories1Residences5Year Built1950Building Size-Lot Size0.84 AC / 36,590 SF

Payment Calculator

$1,645 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,610

Property Taxes

$35

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 510 East Franklin Street

Summary
Location and General Information
  • Area: Owen County
  • City: Spencer
  • Zip + 4: 1826
  • Zip Code: 47460
  • State: IN
  • Township: Washington
  • Cross Street: Fletcher Ave
  • Geo Latitude: 39
  • Geo Longitude: -87
  • Fips Code: 18119
  • Directions To Property: From Main St and Morgan St proceed East on Morgan St. Turn Right on Fletcher Ave. Cross over the railroad tracks the property is on the left.
  • Sea Wall Type: None
  • Location: City/Town/Suburb
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2023
  • Parcel Number Id: 60-10-21-300-400.335-028
School Information
  • School District: Spencer-Owen Community Schools
  • Elementary: Spencer
  • Middle School: Owen Valley
  • High School: Owen Valley
Parking
  • Number Of Parking Spaces: 10
  • Parking: Off Street, Private
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Other
  • Approx Lot Size Acres: 0.84
  • Lot Dimensions: Irregular
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 1020.0
  • Upper Level Sqft: 0.0
  • Approx Lot Size Sqft: 36590.0
  • Above Grade Finished Sqft: 1020.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 1020.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Irregular
  • Main Level Sqft: 1020.0
Property and Assessments
  • New Construction: No
  • Year Built: 1950
  • Age: 74
  • Documents Available: Aerial Photo, LBP Form, Sellers Disclosure, Utility Bill Information
  • Planned Unit Development: No
Green Features
  • Exemptions: Disabled Vet, Homestead, Mortgage, Supplemental
Utilities
  • Cable Company: Comcast
  • Electric Company: Duke Energy Indiana
  • Gas Company: Community NatGas(Spencer)
  • Sewer: City
  • Water Company: BBP
  • Water Utility: City
  • Water Type: None
  • Water Access: None
Interior and Exterior Features
Exterior Features
  • Amenities: Ceiling Fan, Off Street Parking, Attic Pull Down Stairs, Countertops-Laminate, Porch Enclosed, Water Heater Electric
  • Common Amenities: None
  • Driveway: Gravel
  • Exterior: Aluminum
  • Fence: None
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Asphalt, Shingle
Interior Features
  • Number of Electric Meters: 5
  • Number of Gas Meters: 3
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 0
  • Number of Refrigerators: 0
  • Number of W/D Hookups: 1
  • Number of Washers: 0
  • Number Water Meters: 1
  • Basement Material: Block
  • Basement: No
  • Basement/Foundation: Crawl
  • Cooling: None
  • Flooring: Carpet, Vinyl, Vinyl Tile
  • Heating/Fuel: Baseboard
  • 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: 1
  • Total Number of Half Baths: 0
  • Total Baths: 1
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 0
  • 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: 2
  • Number of Units: 5
Income & Expenses Information
  • Annual Electric Expense: $2,237.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $24,960
  • Annual Insurance Expense: $1,200
  • Annual Maint. Expense: $0
  • Annual Misc: $0
  • Annual Net Income: $15,887
  • Annual Property Tax: $420
  • Annual Trash Expense: $1,020
  • Annual Water/Sewer Exp: $4,196
  • Gross Monthly Income: $2,080
  • Gross Monthly Rent: $2,080
Unit Information
Unit 1
  • Unit 1 SqFt: 1020
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 2
  • Unit 1-Num of Rooms: 5
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: No
  • 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-Level: None
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: House
  • Unit 1-Unit Rent $: $1,000
Unit 2
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Num of Rooms: 3
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: Yes
  • Unit 2-Electric: Tenant
  • Unit 2-Garage Type: None
  • Unit 2-Garage: No
  • Unit 2-Gas: Tenant
  • Unit 2-Laundry Room: Other
  • Unit 2-Level: None
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: Trail
  • Unit 2-Unit Rent $: $345
Unit 3
  • 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: Yes
  • Unit 3-Electric: Tenant
  • Unit 3-Garage Type: None
  • Unit 3-Garage: No
  • Unit 3-Garage/Number of Cars: 0
  • Unit 3-Gas: Tenant
  • Unit 3-Laundry Room: None
  • Unit 3-Level: None
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: Lot 3
  • Unit 3-Unit Rent $: $245
Unit 4
  • Unit 4-Num of Bedrooms: 0
  • Unit 4-Num of Rooms: 0
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: Yes
  • Unit 4-Electric: Tenant
  • Unit 4-Garage Type: None
  • Unit 4-Garage: No
  • Unit 4-Garage/Num of Cars: 0
  • Unit 4-Gas: Tenant
  • Unit 4-Laundry Room: None
  • Unit 4-Level: None
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: Lot 4
  • Unit 4-Unit Rent $: $245
Unit 5
  • Unit 5-Num of Bedrooms: 0
  • Unit 5-Num of Rooms: 0
  • Unit 5-Basement: No
  • Unit 5-Currently Rented: Yes
  • Unit 5-Electric: Tenant
  • Unit 5-Garage Type: None
  • Unit 5-Garage: No
  • Unit 5-Garage/Num of Cars: 0
  • Unit 5-Gas: Tenant
  • Unit 5-Laundry Room: None
  • Unit 5-Level: None
  • Unit 5-Rent Frequency: Monthly
  • Unit 5-Unit Number: Lot 5
  • Unit 5-Unit Rent $: $245
Rental
Rental Information
  • Lease Term: Month to Month
  • Owner Pays: Electric, Sewer, Water
  • Tenant Pays: Electric, Fuel

Property History for 510 East Franklin 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 510 East Franklin Street

Taxable ValueLand$48,900Additions$79,500Total$128,400
Tax Record2023$2,568 ($214 / month)
Home Facts
Beds2Baths1Total Finished SqFt1,020 SqFtAbove Grade Finished SqFt1,020 SqFtStories1Lot Size36,590 SqFtStyleSingle Family ResidenceYear Built1950CountyOWENAPN60-10-21-300-400.335-028

Schools near 510 East Franklin Street

This home is within Spencer-Owen Community Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Spencer Elementary School
PublicPK to 6

Owen Valley Middle School
Public7 to 8

Owen Valley Community High School
Public9 to 12

Mccormick's Creek Elementary School
PublicK to 6

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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510 East Franklin Street is a multi-family home for sale in Spencer, IN 47460. This property was listed for sale on March 11, 2024 by Home Team Properties, it's currently listed at $295,000. This listing's school district is Spencer-Owen Community Schools. Nearby schools include Spencer Elementary School, Owen Valley Middle School and Owen Valley Community High School. 510 East Franklin Street is a 2-bed, 1-bath, 1,020 sqft multi-family home built in 1950.

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 Home Team Properties

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.