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About This Home
This 5-bedroom, 2-bathroom multi-family at 221 Jackson St in Sullivan, IN is listed for $135,500 ($61 per sqft). Built in 1915, the home offers 2,239 sqft of living space on a 0.20 acres lot.
Nice duplex offering immediate cash flow with both units currently occupied by established tenants. Unit 1 rents for $740/month and Unit 2 for $725/month, generating $17,580 in annual gross income and a current cap rate of 5.46% at the list price of $135,500.
The property produces a positive NOI of $617/month before debt service — a strong option for investors seeking stable, turnkey income. Current owner covers water, sewer, and lawn care, reflected in the 58% expense ratio, and presents a clear path to improving returns by adjusting utilities or bringing rents to market rate. Value-add cap rate potential of 8.63% offers meaningful upside as leases renew. Schedule your showing today.
Key Features
- Built in 1915
- 0.20 acre lot
Property Details
Monthly Cost Estimate
$725/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
221 Jackson St
Sullivan, IN 47885
Questions & Answers
This 5-bedroom, 2-bathroom multi-family at 221 Jackson St is listed at $135,500 ($61/sqft). The estimated monthly payment is $587 based on 20% down at 6.5% interest.
Key features include: Built in 1915, 0.20 acre lot.
This property is listed by Tracey Symon and can be reached at 8122305448 or tracey@nexthomerec.com.
