$17,000
SOLD MAY 28, 2025

242 S 8th St Unit 242 1/2 and 244 Sout Richmond, IN 47374

-- Bed
-- Bath
3,398 Sq Ft
5,227 Sq Ft Lot

Recently Sold

$5 Per Sq Ft

43% Below List Price

56 Days on Market

About This Home

As of May 2025

This commercially zoned property in the heart of Richmond offers incredible potential for investors and business owners alike. The downstairs storefront provides a great space for retail, office, or service-based businesses, while the upstairs features efficiency apartments—perfect for rental income. The building does need some work and updating, making it a great opportunity for those looking to renovate and add value. With its high-visibility location and versatile layout, this property has endless possibilities. Being sold as-is, this is your chance to bring your vision to life and transform this space into a thriving business and residential hub. Don’t miss out on this affordable investment opportunity in a prime location! For more details or to schedule a viewing, contact The Diamond Class Care Team today! 765-233-6360

Last Agent to Sell the Property

Alfredo Diamond

Better Homes and Gardens First Realty Group Listed on: 02/13/2025

Better Homes and Gardens First Realty Group

Last Buyer's Agent

Alfredo Diamond

Better Homes and Gardens First Realty Group Listed on: 02/13/2025

Better Homes and Gardens First Realty Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,408

Year Built

  • Built in 1910

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 40x130

Home Design

  • Duplex
  • Slab Foundation
  • Shingle Roof
  • Asphalt Roof

Interior Spaces

  • 3,398 Sq Ft Home
  • 2.5-Story Property
  • Basement
  • Crawl Space

Schools

  • Richmond High School

Additional Features

  • Efficiency Studio Dwelling Unit
  • Separate Meters

Community Details

  • 3 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,408

Year Built

Built in 1910

Lot Details

0

Listing Details

  • OFFICELIST_ADDRESS: 242 S 8th Street
  • Second Address Number: 242
  • Estimated Year Built: 1910
  • F I N A N C I N G O F F E R E D: Cash
  • Geo Address Line: 242 S 8th St
  • Geo Longitude: -84.891826
  • Geo Primary City: Richmond
  • Geo Quality: 0.95
  • Geo Subdivision: IN
  • Geo Zoom Level: 16
  • OFFICELIST_STATE: IN
  • Building Stories: 2.5
  • Taxes Half: 283.49
  • Split Utilities: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1910

Interior Features

  • Has Basement: Yes
  • Price Per S Q F T: 5
  • Basement Type: Duplex

Exterior Features

  • Foundation: Slab, Crawl, Basement
  • Roof Age: 2022
  • Roof Type: Asphalt, Shingle

Utilities

  • Electric Company: Richmond Power and Light
  • Sewer: City
  • Hot Water: City

Condo/Co-op/Association

  • Number of Units: 3

Fee Information

  • Tax Class: MULTI-FAMILY

Schools

  • High School: Richmond
  • High School: Richmond

Lot Info

  • Geo Update Timestamp: 2025-02-18
  • Estimated Number Acres: 0.12
  • Land Contract: No
  • Lot Size: 40x130
  • Zoning: Res

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 13, 2025
Closed on
Apr 28, 2025
Sold by
Sanders Evelyn M
Bought by
Reynolds Douglas H
Seller's Agent
Alfredo Diamond
Better Homes and Gardens First Realty Group
Buyer's Agent
Alfredo Diamond
Better Homes and Gardens First Realty Group
List Price
$30,000
Sold Price
$17,000
Premium/Discount to List
-$13,000
-43.33%
Views
54

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
142213370016.69%

Purchase Details

Closed on
Apr 3, 2024
Sold by
Jenkins Terry L and Jenkins Deborah J
Bought by
Sanders Evelyn M
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $17,000 None Listed On Document
Warranty Deed $17,500 None Listed On Document
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/28/2025 05/28/25 Sold $17,000 -22.7% $5 / Sq Ft
04/10/2025 04/10/25 Pending -- -- --
04/08/2025 04/08/25 Price Changed $22,000 -26.7% $6 / Sq Ft
02/13/2025 02/13/25 For Sale $30,000 -- $9 / Sq Ft
Source: Richmond Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $2,408 $18,900 $11,300 $7,600
2023 $1,362 $45,400 $11,300 $34,100
2022 $1,374 $45,800 $11,300 $34,500
2021 $1,287 $42,900 $11,300 $31,600
2020 $1,287 $42,900 $11,300 $31,600
2019 $1,287 $42,900 $11,300 $31,600
2018 $1,287 $42,900 $11,300 $31,600
2017 $1,275 $42,500 $11,300 $31,200
2016 $1,275 $42,500 $11,300 $31,200
2014 $1,248 $41,600 $11,300 $30,300
2013 $1,248 $40,500 $11,300 $29,200
Source: Public Records

Agents Affiliated with this Home

  • Alfredo Diamond

    Seller's Agent in 2025

    Alfredo Diamond

    Better Homes and Gardens First Realty Group

    (765) 233-6360

    286 Total Sales

    Alfredo Diamond
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Map

Source: Richmond Association of REALTORS®

MLS Number: 10050394

APN: 89-18-05-240-309.000-030

Indiana Wayne County Richmond 47374

242 S 8th St Unit 242 1/2 and 244 Sout, Richmond, IN

This home is located at 242 S 8th St Unit 242 1/2 and 244 Sout, Richmond, IN 47374 and is currently priced at $17,000, approximately $5 per square foot. This property was built in 1910. 242 S 8th St Unit 242 1/2 and 244 Sout is a home located in Wayne County with nearby schools including Crestdale Elementary School, Dennis Intermediate School, and Richmond High School.

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