Rusty Manor 2 Multifamily Properties Offered at $680,000 in Spencer, IN

This offering includes two identical multifamily buildings, each featuring five 1-bedroom, 1-bathroom ground-floor apartments, ideally located within walking distance of the Spencer downtown square. Positioned on Jefferson and Wayne Streets, these properties offer immediate access to local shops, restaurants, and community amenities, making them highly desirable for tenants seeking small-town charm with convenience.
Each unit rents for $600 per month with no security deposit, creating low barriers to occupancy and strong tenant demand. Tenants pay electric, while the landlord covers septic, water, and trash, simplifying utilities management and stabilizing operational costs.
With ten total units across both buildings, this package provides reliable rental income and is well-suited for investors seeking a stable, cash-flowing asset in a growing southern Indiana community.