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28
  • Property Type
  • Residential, Residential
  • 4
  • Bedrooms
  • 4
  • Bathrooms
  • 1880 Sqft
  • Area Size
  • 0.093 Acres
  • Land Area
  • 1929
  • Year Built
  • Keller Williams Realty Consultants
  • Office Name
2235 Ekin Avenue, New Albany, Indiana 47150
  • $275,000

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.

  • Address: 2235 Ekin Avenue
  • City: New Albany
  • State/county: IN
  • Zip/Postal Code: 47150

Details

Updated on October 20, 2026 at 5:58 pm
  • Property ID HZ2026012589
  • Price $275,000
  • Property Size 1880 Sqft
  • Land Area 0.093 Acres
  • Bedrooms 4
  • Rooms 15
  • Bathrooms 4
  • Garage Size x x
  • Year Built 1929
  • Property Type Residential, Residential
  • Property Status Active
  • MLS# 2026012589
  • Agent Name Heidi Fore


Listing courtesy of Heidi Fore MLS # 2026012589

Listing information is provided by Participants of the Southern Indiana REALTOR Association MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Southern Indiana REALTOR Association MLS.

eXp Realty Indiana | Jason Engle, State Broker | 9465 Counselors Row Ste. 200 Indianapolis, IN 46240 | 888-611-3912 | IN.Broker@exprealty.net

Data last updated at: October 20, 2026 at 5:58 pm

Additional details

  • Listing Terms Cash, Conventional, FHA, VA Loan
  • Roof Shingle
  • Cooling Window Unit(s), WallWindow Unit(s)
  • Heating Forced Air
  • County Floyd
  • Property Type Residential
  • Parking No Garage

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IDX information is provided by the Indiana Regional MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Indiana Regional MLS.
eXp Realty Indiana | Jason Engle, State Broker | 107 N State Road 135, Suite 101-5, Greenwood, IN 46142 | 888-611-3912 | IN.Broker@exprealty.net

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