$449,000
PENDING $126K PRICE DROP

258 Main Ave Unit 1-8 Frankfort, IN 46041

Estimated payment $2,640/month

Total Views 31,736
6 Beds
8 Baths
8,234 Sq Ft
$55 Price per Sq Ft

Highlights

  • Detached Second Garage
  • Covered Patio or Porch
  • Forced Air Heating System
  • 0.77 Acre Lot
  • 1 Car Detached Garage
  • Laundry Facilities

About This Home

This fully rented 8-plex is an incredible investment opportunity, offering steady income from day one. Each unit is occupied, providing immediate cash flow, while the property itself has a range of desirable features. A detached garage, already rented, along with a large carport for additional covered parking. Tenants enjoy the convenience of an in-building laundry facility located in the basement, making day-to-day living even easier. The charming covered front porch creates a welcoming entrance, adding to the character of this well-maintained building. With solid rental history and multiple income-generating spaces, this property is a must-see for any investor looking to expand their portfolio.

Listing Agent

Jazah Jones

BerkshireHathaway HS IN Realty Brokerage Phone: 765-670-9065 Listed on: 03/24/2025

BerkshireHathaway HS IN Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,307

Year Built

  • Built in 1890

Lot Details

  • 0.77 Acre Lot
  • Lot Dimensions are 130x255
  • Irregular Lot

Home Design

  • Shingle Roof
  • Vinyl Construction Material

Interior Spaces

  • 3-Story Property

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 8 Full Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction
  • Laundry in Basement

Parking

  • 1 Car Detached Garage
  • Carport
  • Detached Second Garage
  • Gravel Driveway
  • Unpaved Parking
  • Parking Lot
  • Off-Street Parking

Schools

  • Blue Ridge / Green Meadows Elementary School
  • Frankfort Middle School
  • Frankfort High School

Utilities

  • Forced Air Heating System
  • Gas Water Heater

Additional Features

  • Covered Patio or Porch
  • Suburban Location

Listing and Financial Details

  • The owner pays for building insurance, electric, fuel, trash collection, water
  • Assessor Parcel Number 121010455018000021

Community Details

Pet Policy

  • Pets Allowed with Restrictions

Building Details

  • 8 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $1,860
  • Insurance Expense $4,400

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,307

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Eightplex
  • Year Built: 1890
  • Style: Three Story
  • Bedrooms: 6
  • Total Bathrooms: 8
  • Total Full Bathrooms: 8
  • Legal Description: 016-20126-00 PT SW SE 10-21-1W .80A 2803
  • Parcel Number ID: 121010455018000021
  • Platted: Yes
  • Amenities: Basement, Off Street Parking, Porch Covered, Water Heater Gas
  • Cross Street: Armstrong
  • Inside City Limits: Yes
  • Location: City/Town/Suburb
  • Road Access: City
  • Road Surface: Gravel
  • Section Number: 10
  • Zoning Description: 4-6 Family R 01
  • Special Features: None

Interior Features

  • Total Sq Ft: 10262
  • Total Finished Sq Ft: 8234
  • Above Grade Finished Sq Ft: 8234
  • Below Grade Sq Ft: 2028
  • Basement: Yes
  • Basement Foundation: Full Basement, Unfinished
  • Basement Material: Block
  • Flooring: Carpet, Vinyl
  • Main Level Sq Ft: 2028
  • Total Below Grade Sq Ft: 2028
  • Number Of Ranges Ovens: 8

Exterior Features

  • Exterior: Vinyl
  • Roof Material: Shingle
  • Stories: 3
  • Outbuilding: 2nd Detached Garage
  • Outbuilding Sq Ft: 360

Garage/Parking

  • Driveway: Gravel
  • Number Of Parking Spaces: 2
  • Parking: Garage, Gravel, Lot, Off Street, Private, Unpaved

Utilities

  • Heating Fuel: Forced Air
  • Sewer: City
  • Water Utilities: City
  • Electric Company: Frankfort Munic. Util.
  • Gas Company: CenterPoint Energy
  • Annual Electric: 1860
  • Annual Insurance Expense: 4400
  • Number Electric Meters: 8
  • Number Gas Meters: 1
  • Number Water Meters: 1

Condo/Co-op/Association

  • Common Amenities: Laundry Facilities
  • Pet Restrictions: Yes

Schools

  • Elementary School: Blue Ridge / Green Meadows

Lot Info

  • Lot Description: Irregular
  • Lot Dimensions: 130x255
  • Estimated Lot Sq Ft: 33541
  • Estimated Lot Size Acres: 0.77

Rental Info

  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Electric, Fuel, Trash Collection, Water
  • Tenant Pays: Electric, Fuel

Tax Info

  • Annual Property Tax: 3307

Multi Family

  • Number Of Refrigerators: 8
  • Number Of Units: 8
  • Num Of1 Bedrooms: 4
  • Num Of2 Bedrooms: 1
  • Num Of Efficiencies: 3

MLS Schools

  • High School: Frankfort
  • Middle School: Frankfort
  • School District: Community Schools of Frankfort

Map

Range of Values:

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Value Increase
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Percent Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/05/2025 08/05/25 Pending -- -- --
07/25/2025 07/25/25 Price Changed $449,000 -5.5% $55 / Sq Ft
05/28/2025 05/28/25 Price Changed $474,900 -4.9% $58 / Sq Ft
05/12/2025 05/12/25 Price Changed $499,500 -9.2% $61 / Sq Ft
05/06/2025 05/06/25 Price Changed $549,900 -4.4% $67 / Sq Ft
03/24/2025 03/24/25 For Sale $575,000 -- $70 / Sq Ft
Source: Indiana Regional MLS

Source: Indiana Regional MLS

MLS Number: 202509549

Indiana Regional MLS
Indiana Clinton County Frankfort 46041

258 Main Ave Unit 1-8, Frankfort, IN

Pending

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.

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Jazah Jones
Listing Agent
Jazah Jones
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BerkshireHathaway HS IN Realty
(765) 246-8093