Properties

314 W Association Street, Ellettsville, Indiana 47429 MLS 202604816

0.44 acre - 314 W Association Street, Ellettsville, Indiana 47429

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Property Description

Lower your living costs while building wealth. Let your property work for you! This is a duplex. One of both of the units could be available for owner occupancy Why rent when your tenant can help pay the mortgage? Both units are currently leased and generating over $1,700 per month, offering immediate income with built-in flexibility for future plans. Whether you’re seeking a house-hack, multi-generational living setup, short-term rental strategy, BRRRR investment, or a straightforward income property, this one checks the boxes. Located approximately 15 minutes from Memorial Stadium, the potential for short-term rental income is especially compelling — imagine football weekend demand. Situated on two parcels totaling just over 0.4 acres, the property offers both stability and upside. The duplex features long-term tenants (since 2019 and 2020) with current rents of $920 for the spacious two-bedroom plus office unit and $850 for the one-bedroom unit, leaving room for future rent adjustments toward market rates. The larger unit’s office could easily convert into a third bedroom, and the basement — complete with egress windows — presents intriguing possibilities for additional living space, storage income, or other creative uses (subject to local regulations). Professionally managed and well maintained, with tenants covering most utilities. Current leases extend through April and June 2026, providing dependable income from day one. Ellettsville continues to see strong rental demand as west-side employers expand. See floorplan in photos for layout and room sizes. With owner occupancy and a homestead exemption in place, property taxes could be significantly reduced — making this duplex an exceptional opportunity for value-conscious buyers.

Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : 202604816
Price : $224,900
Bedrooms : 3
Rooms : 8
Bathrooms : 2
Half Bathrooms : 0
Year Built : 1948
Lot Area (ACRES) : 0.44
Total Finished SqFt : 1,721
Address Map
Country : US
State : IN
City : Ellettsville
Area : Monroe County
Subdivision : None
Zipcode : 47429
Street : Association
Street Number : 314
Floor Number : 0
Longitude : W87° 22' 32.8''
Latitude : N39° 13' 56.9''
Additional Details
Property SubType : Site-built home
Status : Active
Pool Y/N : No
Style : Other
School District : Richland-bean blossom community
Elementary : Edgewood
Middle School : Edgewood
High School : Edgewood
Waterfront Y/N : No
New Construction : No
Investment Property Y/N : Yes
Lot Dimensions : 0x0
# of Fireplaces : 0
Main Level SqFt : 0
Approx. Lot Size SqFt : 19,166
Total Baths : 2
Annual Taxes : $3,650
Association Dues $ : $0
Other Fees $ : $0
Garage Y/N : No
Fireplace Y/N : No
Garage Type : Detached
Laundry Level : Main
Water Utility : City
Sewer : City
REO Y/N : No
Basement Y/N : Yes
LOT DESCRIPTION : Level
EXTERIOR : Limestone
BASEMENT/FOUNDATION : Full basement
HEATING/FUEL : Gas
COOLING : Central air
Age : 78

Listing provided courtesy of: Deb Tomaro Real Estate, Deborah Tomaro.

Residential For Sale
  • Listing ID : 202604816
  • Bedrooms : 3
  • Bathrooms : 2
  • Lot Area (ACRES) : 0.44 acre
  • Visits : 0 in 1 days
$224,900
Agent info
Keith Realty & Auction Group
2411 River Road, Spencer, IN 47460
Contact Agent

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