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803 & 805 Reason Avenue #INCLUDES 111 TRUELOVE RD, 
Loogootee, IN 47553

$249,500

5

Beds

2

Baths

1,880

Sq Ft

Multi-Family

Virtual Tour

Active

Listed by

Barb Hays, Office: 812-482-1424

F.C. Tucker Emge

Last updated:

January 13, 2026, 04:15 PM

MLS#

202546179

Source:

Indiana Regional MLS

About This Home

803 & 805 Reason Avenue #INCLUDES 111 TRUELOVE RD

Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living space with solid rental history - 40 X 26 (1040 SF) Expandable Portfolio – The additional vacant lot already has electric, water, and sewer, making it ideal for adding a third rental unit with minimal groundwork. Low-maintenance setup designed for reliable occupancy and attractive returns. Convenient in-town location, close to amenities and employment, boosting rental demand. Currently on 1 year leases that expire 1 Nov 2026. Whether you're expanding your investment portfolio or seeking a property with immediate income and clear potential for growth, this one checks all the boxes.

Home Facts

Multi-Family

2 Baths

5 Bedrooms

Built in 1991

Price Summary

249,500

$132 per Sq. Ft.

MLS #:

202546179

Last Updated:

January 13, 2026, 04:15 PM

Added:

2 month(s) ago

Rooms & Interior

Bedrooms

Total Bedrooms:

5

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,880 Sq. Ft.

Structure

Structure

Building Area:

1,880 Sq. Ft.

Year Built:

1991

Lot

Lot Size (Sq. Ft):

19,602

Finances & Disclosures

Finances

Price:

$249,500

Price per Sq. Ft:

$132 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.