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Kentuckiana Life & Homes
521 West Street, Madison, IN 47250
- $419,900
- 4
- BD
- 4
- BA
- 1,360
- SqFt
- List Price
- $419,900
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- 2026013030
- Subtype
- Residential
- Style
- Historic/Antique, Two Story
- Architectural Style
- Historic/Antique, Two Story
- Bedrooms
- 4
- Bathrooms
- 4
- Full Baths
- 4
- Living Area
- 1,360
- Lot Size
- 1,306
- Acres
- 0.03
- MLS Area Major
- Downtown
Property Description
Prime turnkey investment opportunity in the heart of historic downtown Madison! Extensively renovated in 2023, this low-maintenance 4-unit income property comes fully furnished and ready to perform from day one. Capitalizing on the high-demand traveling professional market, the property rents effortlessly to traveling nurses and corporate contractors with an established 90-day minimum lease structure. The building features an ideal layout with two units on the first floor and two on the second floor, all boasting brand-new 2023 shingles, fresh interior and exterior paint, completely remodeled interiors, and efficient PTAC heating and cooling systems. Cash flow is immediate and robust: Unit 1 generates $1,300/mo (utilities included), Unit 3 is occupied by a stable long-term tenant at $1,000/mo, and Units 2 and 4 are ready to lease at $1,300/mo each. An additional $100–$150/mo in passive income is generated by the common hallway coin-operated laundry. With a total potential gross income pushing $5,050+ per month and all furnishings included, this is the ultimate hands-off addition to your real estate portfolio and an amazing 11% cap rate! Schedule your showing today!
Additional Information
- Taxes
- $1,388
- Property Description
- Historic/Antique, Two Story
- Zoning
- Residential, Historic Dist
- Appliances
- Dryer, Microwave, Refrigerator, Water Softener, Washer
- Heating
- Heat Pump, Other
- Air Conditioning
- Wall Unit(s)
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Foundation
- Stone, Cellar
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Listing courtesy of eXp Realty, LLC.