Thomas Butler
Trueblood Real Estate
(502) 679-4623
70 Total Sales
8 in New Albany
$55K - $234K Price Range
623 E Spring St New Albany, IN 47150
New Albany Area
--
Beds
--
Baths
2,864
Sq Ft
2,614
Sq Ft Lot
About This Home
As of September 2026Exceptional redevelopment opportunity in the heart of thriving downtown New Albany! Situated on a highly visible stoplight corner, this prominently located commercial building offers incredible potential for investors, developers, or owner-users. Previously configured with professional office space on the main level and apartments on the second floor, the property provides the flexibility to restore its previous mixed-use layout or reimagine the building as all residential apartments (subject to any required approvals). Located within the East Spring Street Historic District, this property combines historic character with an irreplaceable location; close proximity to: restaurants, shopping, entertainment, and ongoing downtown investment. The building appears to have solid bones but will require renovation, making it an ideal value-add project with significant upside. Rare opportunities like this in downtown New Albany don't come along often!
Last Agent to Sell the Property
Schaefer Real Estate, LLC Brokerage Phone: 502-552-4842 License #RB14041359 Listed on: 08/03/2026
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,292
Year Built
- Built in 1919
Lot Details
- 2,614 Sq Ft Lot
Home Design
- Duplex
- Frame Construction
Interior Spaces
- 2,864 Sq Ft Home
- 2-Story Property
- Basement
- Basement Cellar
Listing and Financial Details
- Assessor Parcel Number 220500200797000008
Ownership 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
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 3, 2026
Closed on
Sep 16, 2026
Sold by
Whalin Properties Llc
Bought by
Seller's Agent
Matt Schaefer
Schaefer Real Estate, LLC
Buyer's Agent
Gary Lytle
Green Tree Real Estate Services
List Price
$175,000
Sold Price
$118,000
Premium/Discount to List
-$57,000
-32.57%
Views
25
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-99.24%
Original Mortgage
$299,950
Outstanding Balance
$299,950
Interest Rate
6.69%
Mortgage Type
Construction
Estimated Equity
-$187,569
Purchase Details
Closed on
Nov 5, 2021
Sold by
Live Sunset Llc
Bought by
Whalin Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$187,750
Interest Rate
3.01%
Mortgage Type
Construction
Purchase Details
Closed on
Jan 18, 2018
Sold by
Floyd County Sheriff
Bought by
Live Sunset Llc
Home Values in the Area
Average Home Value in this Area
Agents Specializing in New Albany, IN
-
Thomas Butler
-
John Finnegan
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Angie Tonini-Rogers
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Shawne Mardis
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-
Kimberly Price
Kimberly Price
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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 | $170,000 | None Available | |
| Warranty Deed | $170,000 | None Available | |
| Sheriffs Deed | $45,001 | -- |
Source: Public Records
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 | $187,750 | Construction | |
| Closed | $88,458 | New Conventional | |
| Previous Owner | $69,893 | Commercial |
Source: Public Records
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 |
|---|---|---|---|---|
| 09/16/2026 09/16/26 | Sold | $118,000 | -32.6% | $41 / Sq Ft |
| 08/15/2026 08/15/26 | Pending | -- | -- | -- |
| 08/03/2026 08/03/26 | For Sale | $175,000 | -- | $61 / Sq Ft |
Source: Southern Indiana REALTORS® Association
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 | $1,292 | $50,300 | $14,500 | $35,800 |
| 2024 | $1,136 | $43,400 | $14,500 | $28,900 |
| 2023 | $1,183 | $44,100 | $14,500 | $29,600 |
| 2022 | $1,339 | $51,100 | $14,500 | $36,600 |
| 2021 | $1,260 | $47,700 | $14,500 | $33,200 |
| 2020 | $1,239 | $47,700 | $14,500 | $33,200 |
| 2019 | $1,211 | $47,700 | $14,500 | $33,200 |
| 2018 | $1,203 | $47,400 | $14,500 | $32,900 |
| 2017 | $2,073 | $70,300 | $14,500 | $55,800 |
| 2016 | $2,068 | $69,700 | $14,500 | $55,200 |
| 2014 | $2,092 | $69,300 | $14,500 | $54,800 |
| 2013 | -- | $67,300 | $14,500 | $52,800 |
Source: Public Records
Agents Affiliated with this Home
-
Matt Schaefer
MS
Seller's Agent in 2026
Matt Schaefer
Schaefer Real Estate, LLC
(502) 552-4842
46 Total Sales
-
Gary Lytle
Buyer's Agent in 2026
Gary Lytle
Green Tree Real Estate Services
(502) 817-1188
39 Total Sales
Map
Source: Southern Indiana REALTORS® Association
MLS Number: 2026010644
APN: 22-05-00-200-797.000-008
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 consumers’ personal, noncommercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing data is deemed reliable but is not guaranteed accurate by the SIRA MLS.
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