Listing courtesy of Rental Property Realty · Listing agent: Ashley Riordan-Elpers
509 SE First Street
Evansville, IN 47713
- Basement
- Bedrooms
- 15
- Bathrooms
- 11
- Living area
- 8,327 sq ft
- Lot
- 0.39 ac
- Year built
- 1919
- Type
- Multi Family
- Listed
- August 3, 2026
- MLS #
- 202631399
About this home
Rare opportunity to purchase three properties on one parcel—509, 509.5 and 511 SE First Street—offered together with a total of 11 doors. Located in Evansville's Historic District, the properties offer convenient access to Downtown Evansville, the riverfront and nearby amenities. Currently at 90% occupancy rate. The portfolio has seen several recent improvements, including a newer roof at 509.5 and a recently replaced roof and soffits at 511. A great opportunity for an investor looking to add multiple doors to their portfolio in an established Evansville location and is currently professionally managed.
Monthly payment estimate
$6,196/mo
- Principal & interest
- $4,899
- Property taxes
- $1,036
- Homeowners insurance
- $261
- Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
- Taxes: the seller's 2026 bill as reported to the MLS. Yours may differ once your own deductions apply.
- Insurance: estimated at 0.35% of the price per year.
- An estimate, not a loan offer. Your rate and payment depend on your credit, loan program and down payment.
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Property details
Interior
- Stories
- 2
- Total area
- 8,327 sq ft
- Finished area above grade
- 8,327 sq ft
- Bedrooms above grade
- 15
- Basement
- Partial
- Flooring
- Laminate, Wood
- Heating
- Natural Gas, Forced Air
- Cooling
- Central Air
- Amenities
- Off Street Parking, Foyer Entry
Exterior & parking
- Construction
- Brick, Wood Siding
- Roof
- Asphalt, Rubber, Shingle
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Level, Historic Designation
- Lot size (acres)
- 0.39 ac
- Lot dimensions
- 112.5 x 150
- Location type
- Historic District
- County
- Vanderburgh County
- Township
- Pigeon
- Platted
- Yes
- Planned unit development
- No
- Directions
- W on Washington Ave, R on Second, L on Mulberry, R on 1st Street
Schools
- Elementary school
- West Terrace
- Middle school
- Perry Heights
- High school
- Francis Joseph Reitz
- School district
- Evansville-Vanderburgh School Corp.
Taxes & terms
- Annual taxes
- $12,433
- Tax year
- 2026
- Listing terms
- Cash, Conventional
- Possession
- Tenants Rights
- Parcel number
- 82-06-30-020-075.009-029
Included in the sale
- Included in sale
- Building,Business,Land,Lease
Utilities
- Water
- City
- Sewer
- Public Sewer
Income & commercial
- Units
- 11
- Buildings
- 3
- Annual gross rent
- $105,036
- Net operating income
- $92,603
- Parking spaces
- 2
- Pets allowed
- No
- Tenant pays
- Cable TV, Cooling, Electricity, Heat