$17,000
SOLD APR 30, 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 April 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

Better Homes and Gardens First Realty Group

Last Buyer's Agent

Alfredo Diamond

Better Homes and Gardens First Realty Group

Better Homes and Gardens First Realty Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,362

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

$1,362

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

Map

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/30/2025 04/30/25 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

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 $1,362 $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

Deed History

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

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

Homes for Sale in 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.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.