1321 N 3rd St Vincennes, IN 47591
Estimated payment $16,906/month
Highlights
- 0.7 Acre Lot
- Eat-In Kitchen
- Level Lot
- Covered Patio or Porch
About This Home
Discover a lucrative investment opportunity with this exceptional 32-unit apartment complex located at 1321 N. 3rd St., Vincennes, IN 47591. This property boasts 12 fully renovated one-bedroom, one-bath units, showcasing modern flooring, stylish trims, contemporary fixtures, sleek cabinetry, and high-end appliances. 7 units are 80-90% renovated with appliances on site as well as other materials. The renovations not only enhance aesthetic appeal but also ensure higher rental demand and increased revenue potential. The exterior of the building has seen significant upgrades, including improvements to the parking lot and mailbox area, creating a welcoming environment for residents. With half of the units already rehabilitated, investors have the unique opportunity to complete renovations on the remaining 13 units, further increasing property value and maximizing rental income. Located in a desirable area, this apartment complex offers convenience to local amenities, schools, and public transportation, making it an attractive residence for tenants seeking comfort and accessibility. Positioned for growth, this property is ideal for investors looking to capitalize on the increased rental opportunities by enhancing remaining units and updating common areas. Don’t miss out on this chance to acquire a well-maintained asset with room for significant returns.
Listing Agent
ERA FIRST ADVANTAGE REALTY, INC Brokerage Phone: 812-858-2400 Listed on: 12/15/2025
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $19,829
Year Built
- Built in 1973
Lot Details
- 0.7 Acre Lot
- Lot Dimensions are 200 x 146
- Level Lot
Home Design
- Brick Exterior Construction
- Vinyl Construction Material
Interior Spaces
- 15,360 Sq Ft Home
- 2-Story Property
- Laminate Flooring
- Crawl Space
- Eat-In Kitchen
Bedrooms and Bathrooms
- 32 Bedrooms
- 32 Full Bathrooms
Parking
- 32 Parking Spaces
- Off-Street Parking
Outdoor Features
- Covered Patio or Porch
Schools
- Tecumseh-Harrison Elementary School
- Clark Middle School
- Lincoln High School
Utilities
- Cooling System Mounted In Outer Wall Opening
- Electric Water Heater
- Cable TV Available
Listing and Financial Details
- The owner pays for sewer, trash collection, water
- Assessor Parcel Number 47-12-22-205-113.000-022
Community Details
Overview
- 32 Units
- Mass & Watson Subdivision
Pet Policy
- Pets Allowed with Restrictions
Building Details
- 32 Separate Electric Meters
- Insurance Expense $7,600
- Maintenance Expense $2,500
- Trash Expense $2,676
- Water Sewer Expense $3,205
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,969 | $40,400 | $40,400 | $0 |
| 2023 | $241 | $3,500 | $3,500 | $0 |
| 2022 | $107 | $3,500 | $3,500 | $0 |
| 2021 | $107 | $3,500 | $3,500 | $0 |
| 2020 | $107 | $3,500 | $3,500 | $0 |
| 2019 | $104 | $3,400 | $3,400 | $0 |
| 2018 | $104 | $3,400 | $3,400 | $0 |
| 2017 | $104 | $3,400 | $3,400 | $0 |
| 2016 | $104 | $3,400 | $3,400 | $0 |
| 2014 | $103 | $3,400 | $3,400 | $0 |
| 2013 | $28 | $900 | $900 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/15/2025 12/15/25 | For Sale | $2,900,000 | +182.9% | $189 / Sq Ft | |
| 05/03/2023 05/03/23 | Sold | $1,025,000 | -6.8% | $67 / Sq Ft | View Prior Sale |
| 04/25/2023 04/25/23 | Pending | -- | -- | -- | |
| 04/10/2023 04/10/23 | For Sale | $1,100,000 | 0.0% | $72 / Sq Ft | |
| 03/22/2023 03/22/23 | Pending | -- | -- | -- | |
| 03/07/2023 03/07/23 | For Sale | $1,100,000 | 0.0% | $72 / Sq Ft | |
| 02/19/2023 02/19/23 | Pending | -- | -- | -- | |
| 01/16/2023 01/16/23 | For Sale | $1,100,000 | 0.0% | $72 / Sq Ft | |
| 12/14/2022 12/14/22 | Pending | -- | -- | -- | |
| 12/01/2022 12/01/22 | For Sale | $1,100,000 | +292.9% | $72 / Sq Ft | |
| 03/21/2014 03/21/14 | Sold | $280,000 | -29.8% | $2,800 / Sq Ft | View Prior Sale |
| 01/28/2014 01/28/14 | Pending | -- | -- | -- | |
| 08/27/2013 08/27/13 | For Sale | $399,000 | -- | $3,990 / Sq Ft |
Source: Indiana Regional MLS
MLS Number: 202549191
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