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(SOLD) $173,250

225 W Pennsylvania Street Shelbyville, IN  46176

Property Description for 225 W Pennsylvania Street Shelbyville, IN 46176

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.
QuickBuy option for home selling

Address:225 W Pennsylvania Street Shelbyville IN 46176
Status:Sold
Sold On: 8/9/2024
Price:$199,900
Bathrooms:0
Year Built:1979
Lot Size:0.13
County: Shelby
Township: Addison
MLS #:21971459
Property Type:Triplex

Lot Dimensions:5750
Road Access:Not Applic
Zoning:None
Directions:GPS Friendly
Basement:Yes

Loan Price
$1,221
Price And Interest $904/month
Property Tax $245/month
MTG INS $0/month
HOME INS $72/month
Price
$173,250
Down Payment %
0 %
Down Payment
$0
Property Taxes
$245/month
Home Owner Insurance
$864 / year
HOA Dues
$0 / Month
Interest Rate
4.75 %
Mortgage Ins.
$0 / year
YEARS

Semi-Annual Property Tax:$1,471
Tax Year:2024
Mandatory HOA Fee:$

Area: 7308 - Shelby - Addison
Subdivision: S B Morris Penn
Zip Code:46176

Heat:Forced Air, Gas
Tucker Customer Care, REALTOR®/Broker, F. C. Tucker Company
Tucker Customer Care
Additional Phone (317) 954-4768
F.C. Tucker Company

Listing provided courtesy of Justin Polston with Mackenzie Allen, Polston & Ass from MIBOR as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 03/31/2024 12:00 AM. 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.





Shelbyville Market Report

87
Avg. DOM
$135.96
Avg. $ / Sq.Ft.
$ 279,900
Med. List Price

The house prices in Shelbyville are not dropping at the moment. There has been a increase in price of $23,491.16. There are several factors that can cause a price drop. Higher mortgage rates, lower demand, prices of comparable properties can all cause the price of a house to drop.

The housing market and house prices in Shelbyville are going Up. The average house price is $276,570.00 and the average price per square feet is $139.83 per square feet. At the moment, the amount of homes listed is exactly 344 houses, with 67 with active status, 35 with pending status and 242 sold in Shelbyville .

The most popular place to buy a home in Shelbyville is 7308 - Shelby - Addison. 7308 - Shelby - Addison is where we have the most properties listed and there seems to be the most demand to buy a house. Some people love to live in the most popular areas of a city, and others prefer to live in an area that is less busy. Regardless of your preference, we have a vast variety of listings and agents to help you find a house in Shelbyville .

The average amount of property taxes you would have to pay for a home in Shelbyville is $1,407.52. It is important to consider property taxes when purchasing a home. Property taxes are tied to the value of the home. The more expensive the home is, the higher the taxes will be.

Properties in Shelbyville are staying listed for an average of 85 days. A good way to tell if you are in a buyer's or seller's market is to look at the average days on market for homes in the area. A low number of average days on market indicate a seller's market whereas a high number of average days on market indicate a buyer's market.

The last home listed in Shelbyville was 5698 minutes ago.

At the moment we have 11 open houses that you can visit.

The cost of the most expensive home in Shelbyville is $895,000.00. There are several reasons to consider buying an expensive home. They typically have great amenities, will be in great condition, and have plenty of space inside and outside of the home. Expensive real estate usually appreciates very fast, making it a good investment if you can afford it.

The cost of the cheapest home in Shelbyville is $104,900.00 . Buying a cheap house can have many benefits including keeping your payments low, allowing more room in your budget to customize or improve the house, as well as allowing you to pay of your mortgage faster.

The date of the oldest built home in Shelbyville in year 1903 and the newest built house is in year 2025.

The average size of properties in Shelbyville is 2231.28 sq.ft. , the biggest one being 5904 sq.ft. and the smaller being 896 sq.ft. . The size of your family and budget are important factors to consider when purchasing a home.