20015 Star Valley Way 5 Unit Apartment Building $349,000 ($69,800/Unit) Borden, IN 47106

Pleased to exclusively present the opportunity to acquire a five-unit multifamily property totaling 3,720 rentable square feet on a one-acre lot in Borden, Indiana. The property features a mix of one and two-bedroom floor plans across single-story construction, including two 2-bedroom/1-bath units, a recently remodeled unit, and a spacious largest unit. The building is served by two furnaces and two water heaters (gas and electric), with shared utility service and rents structured by unit size. Three of the five units are currently occupied and producing income, with two units available for renovation and lease-up.
Borden presents a compelling investment environment driven by an affluent rural demographic, limited rental inventory, and proximity to the Louisville metropolitan market. The surrounding 47106 ZIP code carries a median household income exceeding $100,000 — well above both Clark County and Indiana statewide averages — alongside an 84% homeownership rate that keeps quality rental supply genuinely scarce. The area benefits from a stable, diversified employment base anchored by manufacturing, healthcare, education, and construction, with county-wide unemployment holding near 3%.
Residents enjoy a quiet, established small-town setting with strong schools (Borden Elementary and High School both rated B+), level topography, no flood risk (Zone X), and fiber internet availability — all within a roughly 30-minute commute to the greater Louisville MSA. With in-place income, two units offering immediate value-add, below-market rents across the occupied units, and an entry price comparable to a single-family home, 20015 Star Valley Way offers investors an attractive opportunity to acquire a stable, well-located income property with clear upside in a growing Southern Indiana market. Property sold as-is.
Investment Highlights
* 5-Unit Multifamily — Rare small multifamily on a full acre in the Borden, Indiana market
* In-Place Income — Three occupied units generating immediate rental income
* Value-Add Upside — Two vacant units offer renovation and lease-up potential
* Below-Market Rents — Opportunity to raise occupied-unit rents to current market rates
* Strong Unit Mix — Two 2BD/1BA units, a recently remodeled unit, and a spacious largest unit
* Affluent Submarket — 47106 median household income exceeds $100,000 with 84% homeownership
* Affordable Entry Point — Multifamily asset priced at single-family-home cost ($349,000)
* Stable Employment Base — Manufacturing, healthcare, education anchor a ~3% unemployment market
* Low Risk Profile — Zone X (no flood insurance required); fiber internet available
* Louisville MSA Proximity — Roughly 30 minutes to the greater Louisville metropolitan market