28 days on rocket

225 W Pennsylvania St, Shelbyville, IN, 46176

$219,900

Home List Price

$2,611*

Closing Credit

0 Baths
Multi
Schools Nearby

Location

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225 W Pennsylvania St, Shelbyville$219,900

Buyer Closing Credits

$2,611*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
Year Built1979
HeatingForced Air, Natural Gas
BasementYes
MLS #21971459
Lot Size0.13 Acres
StatusActive

About 225 W Pennsylvania St

Makeup: A 2 BR, 1BR, and Studio at $750, $745, and $500. Invest in a Lucrative Triplex Generating over almost $2000 Monthly Income In today's dynamic real estate market, finding an investment opportunity that promises both stability and significant returns is paramount. Introducing a prime investment opportunity: a meticulously maintained triplex boasting three units and generating almost $2,000 (rents are on the lower side) in monthly rental income. This triplex is not just a property; it's a pathway to financial prosperity and security. Unlocking the Potential: With three distinct units, each contributing to the impressive monthly income, this triplex offers investors a rare opportunity to diversify their income streams and maximize returns. Whether you choose to rent out all three units or occupy one while leasing the others, the potential for profit is undeniable. Location, Location, Location: Situated in a highly sought-after area, this triplex benefits from its prime location, surrounded by amenities, downtown restaurants and shopping, trail heads, and convenient transportation options. The demand for rental properties in such desirable neighborhoods ensures a steady stream of potential tenants, minimizing vacancies and maximizing rental income potential. Crunching the Numbers: Let's talk figures. With around $2000 in monthly rental income and room to improve those numbers, this triplex yields an annual income that surpasses $15,000 before debt service. Such impressive numbers speak volumes about the financial viability of this investment opportunity. Moreover, with the potential for rental rate increases and property appreciation over time, the long-term returns on investment are even more promising. Rates could be nearer $900, 750, and 700.

Property Details

Property Features

Property Information:

  • Year Built: 1979

Listing Office:

  • Office Name: Mackenzie Allen, Polston & Ass
  • Office Email: JPOLSTON@MACKENZIEALLENREALESTATE.COM
  • Listing Agent: Justin Polston

Interior Features

Interior Information:

  • Basement: Yes

Lot Features

Lot Information:

  • Lot Size: 0.13 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas

School Info

Assigned Schools Information:

  • Shelbyville Sr High School, Public District Grades 9-12
  • Shelbyville Middle School, Public District Grades 6-8
  • Thomas A Hendricks Elementary School, Public District Grades PK-5

Other

Directions Information:

  • Directions: GPS Friendly

Price Information

Listing Price Info

Price Summary:

  • List Price: $219,900

Tax Information:

  • Annual Amount: $1,904
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Shelbyville, IN.

Med. Sold Price

$203.3K

Med. Price/SqFt

$126

Avg. Days On Market

52

# of Sold Homes

24

225 W Pennsylvania St vs Shelbyville

28 DAYS ON ROCKET

-24 Days

$219,900

+$16.5K More

KEY TAKEAWAY

This property is $16.5K more than the Median Sold Price in Shelbyville, IN.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MIBOR
  • MLS Number: #21971459

Listing Office:

  • Office Name: Mackenzie Allen, Polston & Ass
  • Office Email: JPOLSTON@MACKENZIEALLENREALESTATE.COM
  • Listing Agent: Justin Polston

IDX Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Copyright ©2024 MIBOR REALTOR® Association. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information submitted to the Broker Listing Cooperative listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. All data is obtained from various sources and may not have been verified by broker or Broker Listing Cooperative listing service. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 1:16:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$1,904$98,900
2019$1,178$95,100
2018$1,178$58,800
2017$1,188$58,800

History based on county public records data.

Payment Calculator

$1,165

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$726

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-3135038
4
/10
  • Thomas A Hendricks Elementary School

  • 1111 Saint Joseph St

  • 1.22 miles

  • Public District Grades PK-5

Middle School

school-card-donut-3135039
5
/10
  • Shelbyville Middle School

  • 1200 W Mckay Rd

  • 1.55 miles

  • Public District Grades 6-8

High School

school-card-donut-3135040
7
/10
  • Shelbyville Sr High School

  • 2003 S Miller St

  • 1.48 miles

  • Public District Grades 9-12

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $38,718. The majority of Shelbyville, IN residents have income between $35k-100k annually. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas


Rocket HomesIndianaShelby CountyShelbyville46176225 W Pennsylvania St

This home is located at 225 W Pennsylvania St in Shelbyville, IN and zip code 46176. This home, which was built in 1979, sits on a 0.13 acre lot. It has been listed on Rocket Homes since April 01, 2024 and is currently priced at $219,900.

Over 6 listings were sold over their listed price in March 2024 in Shelbyville, IN. In the same period over 11 listings were sold below the listed price and 7 listings were sold for the listed price. Between February 2024 and March 2024, Shelbyville, IN real estate market has seen decrease in the number of listings by 2.5%. In March 2024 median list price was $203,375 and the average listing age was 52 days.

From Rocket Homes Real Estate and based on county public records data.

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