For Sale
$390,000

1609 Rheinhardt Ave Evansville, IN 47714

Six-unit income property, high ROI.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a portfolio of six single-family rental properties located in Evansville, Indiana, within Vanderburgh County. The properties are situated at 1609 Rheinhardt Ave, 1625 Rheinhardt Ave, 1335 E Franklin St, 909 N 5th Ave, 1316 N 5th Ave, and 921 W Missouri St, encompassing a diverse range of addresses within the 47710, 47711, and 47714 zip codes. This portfolio offers a compelling investment proposition with a total asking price of $390,000, translating to $65,000 per unit. The current annual net operating income (NOI) stands at $48,060, resulting in an attractive cap rate of 12.32%. Individual unit rents range from $600 to $715 per month, generating a combined monthly rental income of $4,005. Tenants are responsible for their own utilities. Showings are scheduled following the acceptance of a Letter of Intent (LOI), contingent upon a property walkthrough. This portfolio represents a strong cash-flowing investment with significant potential for future appreciation. The properties are sold as a package.

Highlights

  • Six-unit single-family rental portfolio in Evansville, IN.
  • Located in Vanderburgh County, across multiple zip codes (47710, 47711, 47714).
  • Asking price: $390,000 ($65,000 per unit).
  • Current annual NOI: $48,060, 12.32% cap rate.
  • Monthly rental income: $4,005 (individual rents: $600-$715).
  • Sold as a package; showings by appointment following LOI and property walkthrough.

Property Details for 1609 Rheinhardt Ave

Property type
Residential income homes
Units
6

Location Insight

City
Evansville
County
Vanderburgh
State
Indiana
Latitude
37.9410675
Longitude
-87.5356476

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FAQs

What type of property is this?
Residential income home - Six-unit income property, high ROI.
Where is the residential income home located?
The property is located at 1609 Rheinhardt Ave Evansville, IN.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Six-unit single-family rental portfolio in Evansville, IN.; Located in Vanderburgh County, across multiple zip codes (47710, 47711, 47714).; Asking price: $390,000 ($65,000 per unit).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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(812) 449-0050

Contacts

Charlie Butler
Charlie Butler
Visit Broker Website

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Rheinhardt Ave
Evansville, IN 47714

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Rheinhardt Ave
Evansville, IN 47714

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We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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1609 Rheinhardt Ave
  • Charlie Butler
    Charlie Butler
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