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

$112,900

3

Beds

2

Baths

1,952

Sq Ft

Multi-Family

Active

Listed by

Ryan Orr, Cell: 765-744-9500

RE/MAX Real Estate Groups

Last updated:

April 29, 2026, 02:49 PM

MLS#

202613954

Source:

Indiana Regional MLS

About This Home

615 - 615 1/2 Madison Avenue

This package features six consistently high-demand rental duplex properties (12 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, 1105-1107 W 11th St, 1109-1111 W 11th St, 1303-1305 Sycamore, 615-615 1/2 Madison and 1815 - 1815 1/2 Fletcher.

Home Facts

Multi-Family

2 Baths

3 Bedrooms

Built in 1950

Price Summary

112,900

$57 per Sq. Ft.

MLS #:

202613954

Last Updated:

April 29, 2026, 02:49 PM

Added:

13 day(s) ago

Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,952 Sq. Ft.

Structure

Structure

Architectural Style:

Two Story

Building Area:

1,952 Sq. Ft.

Year Built:

1950

Lot

Lot Size (Sq. Ft):

6,098

Finances & Disclosures

Finances

Price:

$112,900

Price per Sq. Ft:

$57 per Sq. Ft.

Source:Indiana Regional MLS
IRMLS information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IRMLS Data is deemed reliable but is not guaranteed accurate by the MLS. IRMLS information provided by the Indiana Regional MLS. Copyright 2026 Indiana Regional MLS LLC.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.