408 N Jefferson St Converse, IN 46919
Estimated payment $4,329/month
Highlights
- Baseboard Heating
- Laundry Facilities
- Level Lot
About This Home
14-Unit Apartment Complex | Prime Main Road Location | Value-Add Opportunity Prime investment opportunity in the heart of Converse! This well-maintained 14-unit apartment complex, situated directly on Jefferson Street, offers a stable, income-producing asset with immediate potential for forced appreciation. The property consists of three separate buildings (two triplexes and one 8-plex), providing a flexible and manageable layout. This complex is a true "Value-Add" play. Unit #1 is currently undergoing renovations; the majority of building materials have already been purchased and will convey with the sale, allowing the new owner to finish the project and realize immediate rental income upside. With 10 of the 14 units on the ground level, this property is highly desirable for tenants and maintains consistent demand. Key Property Highlights: • Unit Mix: (4) 2-Bedroom/1-Bath units; (10) 1-Bedroom/1-Bath units. • Property Composition: Three buildings (two triplexes, one 8-plex). 8-plex features a 2-story design with on-site laundry facilities for added monthly revenue. • On-site laundry room featuring commercial-grade machines. The equipment is provided and maintained by a third-party vendor—offering you steady, passive laundry income without the hassle of equipment repairs or maintenance. • Accessibility: Highly accessible design with 10 units featuring ground-level entry. • Prime Accessibility: Located directly on Jefferson St (Main Rd) in Converse. • Immediate Amenities: Situated adjacent to Dollar General for maximum tenant convenience. • Districts: Served by the well-regarded Oak Hill United School Corporation. • Maintenance: Significant capital expenditure already addressed with roofs replaced just 5 years ago. • Upside Potential: Unit #1 near completion—all materials on-site will be transferred to the buyer at closing. Don't miss this opportunity to acquire a turnkey portfolio with built-in equity potential. Current rent roll and operating expense summary are available upon request for qualified buyers. Showings by appointment only.
Listing Agent
CENTURY 21 Bradley Realty, Inc Brokerage Phone: 765-667-1990 Listed on: 06/02/2026
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $5,600
Year Built
- Built in 1970
Lot Details
- 19,602 Sq Ft Lot
- Lot Dimensions are 140x140
- Level Lot
Home Design
- Brick Exterior Construction
- Shingle Roof
- Vinyl Construction Material
Interior Spaces
- 7,880 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 18 Bedrooms
- 14 Full Bathrooms
Partially Finished Basement
- Sump Pump
- Crawl Space
Parking
- 14 Parking Spaces
- Gravel Driveway
Location
- Suburban Location
Schools
- Converse/Sweetser Elementary School
- Oak Hill Middle School
- Oak Hill High School
Utilities
- Window Unit Cooling System
- Radiant Ceiling
- Baseboard Heating
Listing and Financial Details
- The owner pays for building insurance, lawn maintenance, maintenance, snow removal, trash collection, water
- Assessor Parcel Number 52-16-29-401-037.000-011
- Seller Concessions Not Offered
Community Details
Overview
- 3 Buildings
- 14 Units
Amenities
- Laundry Facilities
Building Details
- Electric Expense $1,980
- Insurance Expense $6,010
- Maintenance Expense $13,300
- Trash Expense $1,500
- Water Sewer Expense $16,270
Map
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $5,260 | $246,100 | $43,300 | $202,800 |
| 2024 | $4,148 | $206,300 | $43,300 | $163,000 |
| 2023 | $4,148 | $196,800 | $43,300 | $153,500 |
| 2022 | $3,956 | $196,900 | $43,300 | $153,600 |
| 2021 | $3,850 | $191,700 | $43,300 | $148,400 |
| 2020 | $3,853 | $191,800 | $43,300 | $148,500 |
| 2019 | $3,807 | $190,100 | $43,300 | $146,800 |
| 2018 | $4,312 | $215,600 | $43,300 | $172,300 |
| 2017 | $2,892 | $144,600 | $26,000 | $118,600 |
| 2016 | $2,892 | $144,600 | $26,000 | $118,600 |
| 2014 | $2,956 | $147,800 | $26,000 | $121,800 |
| 2013 | -- | $181,800 | $26,000 | $155,800 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/02/2026 06/02/26 | For Sale | $715,000 | -- | $91 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available | |
| Special Warranty Deed | -- | None Available | |
| Limited Warranty Deed | -- | None Available | |
| Deed | $296,000 | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $710,000 | Future Advance Clause Open End Mortgage | |
| Closed | $300,800 | Future Advance Clause Open End Mortgage | |
| Closed | $355,000 | Commercial | |
| Closed | $477,750 | Future Advance Clause Open End Mortgage |
Source: Indiana Regional MLS
MLS Number: 202621117
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Based on information submitted to the MLS GRID
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Ask me questions while you tour the home.