106 North Franklin Street
$350,000
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Description
This investment property, featuring two addresses and three separate, fully remodeled units, offers a fantastic opportunity for both short-term and long-term rental income. Located at 106 and 108, each unit comes fully furnished and shares a large common laundry space, making it ideal for traveling professionals or event-goers. The first address, 106, includes a spacious main floor unit with a large foyer, bedroom, living room, and kitchen. Additionally, it offers an efficiency unit that features...This investment property, featuring two addresses and three separate, fully remodeled units, offers a fantastic opportunity for both short-term and long-term rental income. Located at 106 and 108, each unit comes fully furnished and shares a large common laundry space, making it ideal for traveling professionals or event-goers. The first address, 106, includes a spacious main floor unit with a large foyer, bedroom, living room, and kitchen. Additionally, it offers an efficiency unit that features a main floor foyer and a charming reading nook or extra storage space. The second address, 108, is a second-floor studio space boasting a generous living, bedroom, and kitchen area. The property also includes an oversized one car garage and paved parking. Currently, all three units are exclusively utilized as Furnished Finder or Airbnb rentals, achieving an impressive occupancy rate of over 90% (July 2023 - June 2024), with several bookings projected into next year. Most tenants are traveling professionals who rent on a monthly basis, though the property has also attracted visitors attending major events in Indianapolis, such as the Indy 500. With a successful rental model already in place, this property holds great potential for continued short-term rentals or could be easily transitioned to long-term tenants. Operating Expenses and Net Income listed below are average monthly. Don't miss out on this instant income producing property!
- Listed by Melissa Ewald • Level Up Real Estate Group • MelissaEwaldRealtor@gmail.com
Property Details for 106 North Franklin Street
Subdivision Name
Boyd Acres
TownshipCenter
WaterfrontNo
LISTING UPDATED: 08/19/2024 06:38 PM
Property Details for 106 North Franklin Street
Status | Active |
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MLS # | 21995048 |
Days on Market | 125 |
Taxes | $479 semi-annually |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Triplex |
Year Built | 1940 |
Lot Size | 0.11 AC / 4,791 SF |
County | Hancock County |
Building Information for 106 North Franklin Street
Stories-Residences3Year Built1940Building Size-Lot Size0.11 AC / 4,791 SF
Property Information for 106 North Franklin Street
Property History for 106 North Franklin Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 106 North Franklin Street
Taxable ValueLand$27,600Additions$7,500Total$35,100
Tax Record2019$1,518 ($126 / month)
Home Facts
Baths1Total Finished SqFt2,080 SqFtAbove Grade Finished SqFt2,080 SqFtUnfinished Basement SqFt1,038 SqFtStories2Lot Size4,792 SqFtStyleDuplexYear Built1940Year Renovated1940CountyHANCOCKAPN30-07-31-402-052.000-009
Schools near 106 North Franklin Street
This home is within Greenfield-Central Com Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 3 | |||
Public - | 4 to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Weston Elementary School PublicK to 3 | ||
Greenfield Intermediate School Public4 to 6 | ||
Greenfield Central Junior High School Public7 to 8 | ||
Greenfield-Central High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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