2235 Ekin Avenue,New Albany, IN 47150
New Albany, IN 47150
Description
Yes, you can still find a rental property that beats the 1% rule! Fully leased, 4-unit apartment building in Uptown New Albany with numbers that work: $3140 per month in rent income, which is $37,680 a year. A cash-on-cash return like this is hard to find right now. All four units have been updated in some way within the last two years. A floorplan is provided showing the three 1-bedroom units and one studio (combined bedroom and living room). Each unit has its own furnace and separate gas and electric meters. Tenants pay gas and electric. Unit 2 has a washer and dryer. There is off-street parking for 4 cars (rare for an uptown 4-plex), plus a grassy yard for playing and dog walking. With a full-price offer, seller will contribute up to $5,000 towards an interest rate buydown or other buyer closing costs that the lender allows, plus a 1-year home warranty for peace of mind, and will do some repairs that the home inspector noted. Or you can get a discounted price by buying it as-is. A building floor plan, rent roll, tax record, income and expense summary, and a 2026 Certainty Home Inspection report are available, so you can be sure that viewing it in person would be a good use of time. Run the numbers on this one using your favorite investment calculator app - you'll be glad you did. Ask your tax advisor how buying this before the end of the year can potentially save money on taxes. Or, you may be able to buy this with a 5% down payment if you use it as your primary residence.
Details
| MLS # | 2026012589 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1929 |
| Days On Site | 28 |
| Listing Provided By | Keller Williams Realty Consultants | Heidi Fore |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 1,880 |
| Basement | Y |
| Zoning | Residential |
| Acreage | 0.09 |
Exterior
| Lot Features | Corner Lot |
|---|
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | No Garage |
Taxes
| Tax Annual Amount | 4175 |
|---|
Area Information
| State | IN |
|---|---|
| County | Floyd |
| City | New Albany |
| Zip Code | 47150 |
| Listing VS Median (in 47150) | |
Price: $275,000 low | high Med: $244,950 sqft: 1,880 low | high Med: 1,533 $ / sqft: $146 low | high Med: $162 On site: 28 low | high Med: 116 | |
Market Activity 47150
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IN |
|---|---|
| County | Floyd |
| City | New Albany |
| Zip Code | 47150 |
| Listing VS Median (in 47150) | |
Price: $275,000 low | high Med: $244,950 sqft: 1,880 low | high Med: 1,533 $ / sqft: $146 low | high Med: $162 On site: 28 low | high Med: 116 | |
 |  |  |
© 2026 Coldwell Banker McMahan. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker McMahan fully supports the principles of the Fair Housing Act and Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchises are not provided by, affiliated with or related to Coldwell Banker Real Estate LLC nor any of its affiliated companies.
