# 221 Jackson St, Sullivan, IN 47885

> **TL;DR:** 5bd/2ba multi-family, $135,500 ($61/sqft), built 1915, 2,239 sqft. Est. $587/mo. Listed 11 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $135,500 |
| Price/sqft | $61 |
| Bedrooms | 5 |
| Bathrooms | 2 full |
| Square Feet | 2,239 |
| Year Built | 1915 |
| Lot Size | 8,712 sqft (0.20 acres) |
| Property Type | Multi-Family (Duplex) |
| Status | For Sale |
| Days on Market | 11 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $587 |
| **Total** | **$587** |

## Property Highlights

- Built in 1915
- 0.20 acre lot

## Description

### Agent Description
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.

## Location

- **Address:** 221 Jackson St, Sullivan, IN 47885
- **Coordinates:** 39.4799343, -87.4802068
- **Google Maps:** https://www.google.com/maps?q=39.4799343,-87.4802068

## Listing Agent

- **Name:** Tracey Symon
- **Brokerage:** NextHome Real Estate Connections
- **Phone:** 8122305448
- **Email:** tracey@nexthomerec.com

## Primary Photo

![221 Jackson St - Primary Photo](http://lh.rdcpix.com/aad47151f04472a8284b1ccb9e931eb1l-f2362645793r.jpg)

*12 total photos available on [listing page](https://www.propertysimple.com/listing/221-jackson-st-sullivan-in-47885-e291801)*

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**MLS#:** 109435 | **Updated:** 2026-06-17
**Source:** listhub

*Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/221-jackson-st-sullivan-in-47885-e291801)

---

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