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617 W Franklin St 5 Unit Apartment Building $324,900 ($64,980/Unit) 8.92% Cap Rate Shelbyville, IN 46176
EXECUTIVE SUMMARY
5 unit property in good condition, located in highly desired Shelbyville, Indiana.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$50,340
|
$17.70
|
| Other Income |
$1,800
|
$0.63
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$52,140
|
$18.33
|
| Taxes |
$3,264
|
$1.15
|
| Operating Expenses |
$13,356
|
$4.70
|
| Total Expenses |
$16,620
|
$5.84
|
| Net Operating Income |
$35,520
|
$12.49
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $50,340 |
| Annual Per SF | $17.70 |
| Other Income | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.63 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $52,140 |
| Annual Per SF | $18.33 |
| Taxes | |
|---|---|
| Annual | $3,264 |
| Annual Per SF | $1.15 |
| Operating Expenses | |
|---|---|
| Annual | $13,356 |
| Annual Per SF | $4.70 |
| Total Expenses | |
|---|---|
| Annual | $16,620 |
| Annual Per SF | $5.84 |
| Net Operating Income | |
|---|---|
| Annual | $35,520 |
| Annual Per SF | $12.49 |
PROPERTY FACTS
| Price | $324,900 | Building Class | C |
| Price Per Unit | $64,980 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 2,844 SF |
| Cap Rate | 8.92% | No. Stories | 2 |
| No. Units | 5 | Year Built | 1876 |
| Property Type | Multifamily | Parking Ratio | 2.1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $324,900 |
| Price Per Unit | $64,980 |
| Sale Type | Investment |
| Cap Rate | 8.92% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 2,844 SF |
| No. Stories | 2 |
| Year Built | 1876 |
| Parking Ratio | 2.1/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| Studios | 1 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 73-11-06-100-207.000-002 | Total Assessment | $182,200 |
| Land Assessment | $11,600 | Annual Taxes | $3,264 ($1.15/SF) |
| Improvements Assessment | $170,600 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
73-11-06-100-207.000-002
Land Assessment
$11,600
Improvements Assessment
$170,600
Total Assessment
$182,200
Annual Taxes
$3,264 ($1.15/SF)
Tax Year
2024
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617 W Franklin St
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