803 & 805 Reason Ave Unit INCLUDES 111 TRUELOV Loogootee, IN 47553
Estimated payment $1,391/month
Highlights
- Corner Lot
- Covered Deck
- Luxury Vinyl Tile Flooring
- Loogootee Junior/Senior High School Rated 9+
- Laundry in Utility Room
- Forced Air Heating and Cooling System
About This Home
Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living space with solid rental history - 40 X 26 (1040 SF) Expandable Portfolio – The additional vacant lot already has electric, water, and sewer, making it ideal for adding a third rental unit with minimal groundwork. Low-maintenance setup designed for reliable occupancy and attractive returns. Convenient in-town location, close to amenities and employment, boosting rental demand. Currently on 1 year leases that expire 1 Nov 2026. Whether you're expanding your investment portfolio or seeking a property with immediate income and clear potential for growth, this one checks all the boxes.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $915
Year Built
- Built in 1991
Lot Details
- 0.45 Acre Lot
- Corner Lot
- Level Lot
Home Design
- Asphalt Roof
- Metal Roof
- Vinyl Construction Material
Interior Spaces
- 1,880 Sq Ft Home
- 1-Story Property
- Laundry in Utility Room
Flooring
- Carpet
- Luxury Vinyl Tile
- Vinyl
Bedrooms and Bathrooms
- 5 Bedrooms
- 2 Full Bathrooms
Parking
- 4 Parking Spaces
- Gravel Driveway
- Off-Street Parking
Schools
- Loogootee Elementary And Middle School
- Loogootee High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Electric Water Heater
Additional Features
- Covered Deck
- Suburban Location
Listing and Financial Details
- The owner pays for building insurance, lawn maintenance, maintenance, tax
- Assessor Parcel Number 51-08-25-200-185.000-008
Community Details
Overview
- 2 Buildings
- 2 Units
Building Details
- Insurance Expense $891
- Maintenance Expense $1,376
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/13/2025 11/13/25 | For Sale | $249,500 | -- | $133 / Sq Ft |
Source: Indiana Regional MLS
MLS Number: 202546179
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