Anderson, IN 46016 615 - 615 1/2 Madison Avenue

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Presented By: Ryan Orr with RE/MAX Real Estate Groups; Cell: 765-744-9500
  • MLS# 202613954
  • 04/17/2026
  • Get pre-approved
  • Request Tour
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  • Beds • 3
  • Baths • 2
  • SQFT • 1,952

Home Details

This package features three consistently high-demand rental duplex properties (6 units) situated in the Anderson, IN market. The portfolio offers a secure, well-managed investment with immediate upside potential. Stable Income Stream: The properties demonstrate strong, reliable cash flow, supported by excellent historical rent collection and exceptional occupancy rates (minimal historical vacancy). Turnkey Efficiency: Current owners have meticulously maintained the units, significantly minimizing the need for immediate Capital Expenditure (CapEx). Value-Add Opportunity: Current rents are below prevailing market rates for comparable local properties, providing a clear path for substantial income growth through gradual rent increases to achieve market value. Tenant Stability: Due to diligent maintenance, the properties have high long-term tenant satisfaction, contributing to low turnover. Seller will sell individually or as a group-addresses: 403-405 W 5th St, 615-615 1/2 Madison and 1815 - 1815 1/2 Fletcher.
Presented By: Ryan Orr with RE/MAX Real Estate Groups; Cell: 765-744-9500

Interior Features for 615 - 615 1/2 Madison Avenue

Bedrooms

Num. of 1 Bedrooms1
Num. of 2 Bedrooms1
Num. of 3 Bedrooms0
Num. of 4 Bedrooms0
Unit 1-# of Bedrooms2
Unit 2-# of Bedrooms1
Above Grade Bedrooms3
Beds3
Below Grade Bedrooms

Bathrooms

Unit 1-# of Bathrooms1
Unit 2-# of Bathrooms1
Below Grade Baths

Other Interior Features

Total Finished SqFt1952
Basement Y/NNo
Above Grade Finished SqFt1952
Above Grade Unfin. SqFt0
Below Grade Finished SqFt0
Below Grade Unfin. SqFt0
Main Level SqFt1124
Num. of Efficiencies0
BasementCrawl
Dishwasher(s)
Disposal(s)
Dryer(s)
FlooringOther
Microwaves
Ranges/Ovens2
Refrigerators2
Total Number of Units2
W/D Hookups
Washers

Other Rooms

Total Rooms Below Grade

General for 615 - 615 1/2 Madison Avenue

Age76
Agent First NameRyan
Agent Last NameOrr
Annual Electric Expense
Annual Fuel Expense
Annual Insurance Expense750
Annual Trash Expense
AreaMadison County
Assoc. Dues FrequencyNot Applicable
Associated Document Count2
Auction Y/NNo
Bathrooms2
CityAnderson
ClassINVESTMENT
CoolingNone
DOM34
Elementary SchoolAnderson
FIPS Code18095
FeaturesPorch Covered
Full Baths2
Half Baths
HeatingGas, Forced Air
High SchoolAnderson
Legal DescriptionW P HARTERS 1ST L 028
Middle SchoolHighland
Net Income10559.06
New ConstructionNo
OwnerPaysElectric, Fuel, Water
Pet Restrictions Y/NNo
REONo
Rent Income18612
School DistrictAnderson Community
SewerCity
StatusActive
StatusActive
Status Detail0
Stories Count2
StyleTwo Story
SubdivisionOther
Tax Year2025
Tenant PaysElectric, Fuel, Trash Collection
Total Sq Ft1952
TownshipAnderson
TypeDuplex
Year Built1950

Exterior for 615 - 615 1/2 Madison Avenue

Approx. Lot Size Acres0.14
ExteriorVinyl, Other
Lot DescriptionLevel
Lot Dimensions50x125
Lot Size Area6098
Number of Parking Spaces2
OutbuildingNone
PoolNo
Waterfront Y/NNo

Additional Details

Price History

Schools

High School Anderson High School
Elementary School Anderson Elementary School
Middle School Highland Middle School

Ryan Orr

Associate
Price $112,900
MLS#202613954
List Date 04/17/2026
Property Type Multi-Family
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