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314 W Association Street, 
Ellettsville, IN 47429

$224,900


3

Beds


2

Baths


1,721

Sq Ft


Single Family


Virtual Tour

Active

Listed by

Deborah Tomaro, deb.tomaro@homefinder.org

Deb Tomaro Real Estate

Last updated:

February 17, 2026, 03:49 PM

MLS#

202604816

Source:

Indiana Regional MLS

About This Home

314 W Association Street

Lower your living costs while building wealth. Let your property work for you! This is a duplex. One of both of the units could be available for owner occupancy Why rent when your tenant can help pay the mortgage? Both units are currently leased and generating over $1,700 per month, offering immediate income with built-in flexibility for future plans. Whether you're seeking a house-hack, multi-generational living setup, short-term rental strategy, BRRRR investment, or a straightforward income property, this one checks the boxes. Located approximately 15 minutes from Memorial Stadium, the potential for short-term rental income is especially compelling — imagine football weekend demand. Situated on two parcels totaling just over 0.4 acres, the property offers both stability and upside. The duplex features long-term tenants (since 2019 and 2020) with current rents of $920 for the spacious two-bedroom plus office unit and $850 for the one-bedroom unit, leaving room for future rent adjustments toward market rates. The larger unit’s office could easily convert into a third bedroom, and the basement — complete with egress windows — presents intriguing possibilities for additional living space, storage income, or other creative uses (subject to local regulations). Professionally managed and well maintained, with tenants covering most utilities. Current leases extend through April and June 2026, providing dependable income from day one. Ellettsville continues to see strong rental demand as west-side employers expand. See floorplan in photos for layout and room sizes. With owner occupancy and a homestead exemption in place, property taxes could be significantly reduced — making this duplex an exceptional opportunity for value-conscious buyers.

Home Facts

Single Family

2 Baths

3 Bedrooms

Built in 1948

Price Summary

224,900

$130 per Sq. Ft.

MLS #:

202604816

Last Updated:

February 17, 2026, 03:49 PM

Added:

2 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,721 Sq. Ft.


Structure

Structure

Building Area:

3,442 Sq. Ft.

Year Built:

1948


Lot

Lot Size (Sq. Ft):

19,166


Finances & Disclosures

Finances

Price:

$224,900

Price per Sq. Ft:

$130 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.