Listing courtesy of Real Broker, LLC · Listing agent: Jon Kindred
601 S Walnut Street
Mount Summit, IN 47361
Original price $475,000 · Price reduced on September 7, 2026
- Bedrooms
- 7
- Bathrooms
- 7
- Living area
- 3,348 sq ft
- Lot
- 0.54 ac
- Year built
- 1960
- Type
- Sevenplex
- Listed
- July 17, 2026
- MLS #
- 202628922
About this home
CAP RATE of 9.7%. Turnkey 7-UNIT investment opportunity in this fully occupied, one-level apartment building conveniently located in Mount Summit, IN. Built in 1960, it has a total 3,348 square feet of living area resting on a spacious .537 acre lot. Six of the units are 1 bedroom, one-bathroom and approximately 500 SF each. The 7th unit is an efficiency unit with approximately 350 SF of living space. The spacious lot allows for tenant parking on property. Recent updates include a spacious deck for outdoor gatherings, fresh exterior paint, and coin-op laundry machines. Owner pays all utilities and maintenance. Tenant’s rights apply. (*interior photos have been digitally altered to remove some personal items)
Monthly payment estimate
$2,999/mo
- Principal & interest
- $2,491
- Property taxes
- $375
- Homeowners insurance
- $133
- 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
- Levels
- One
- Stories
- 1
- Total area
- 3,348 sq ft
- Finished area above grade
- 3,348 sq ft
- Bedrooms above grade
- 7
- Basement
- Slab
- Flooring
- Carpet, Vinyl
- Heating
- Electric
- Cooling
- Window Unit(s)
- Amenities
- Porch Covered, Storm Doors, Washer Hook-Up
Exterior & parking
- Construction
- Brick, Wood Siding
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Level
- Lot size (acres)
- 0.54 ac
- Lot dimensions
- 179 x 130
- County
- Henry County
- Township
- Prairie
- Platted
- Yes
- Planned unit development
- No
- Directions
- GPS Friendly
Schools
- Elementary school
- Blue River Valley
- Middle school
- Blue River Valley
- High school
- Blue River Valley
- School district
- Blue River Valley Schools
Taxes & terms
- Annual taxes
- $4,494
- Tax year
- 2026
- Possession
- tenants rights
- Parcel number
- 33-07-21-240-241.000-022
Included in the sale
- Included in sale
- Building,Land
Utilities
- Water
- City
- Sewer
- Public Sewer
Income & commercial
- Units
- 7
- Annual gross rent
- $71,700
- Net operating income
- $44,286
- Parking spaces
- 16
- Pets allowed
- No
- Insurance (annual)
- $6,552
- Water & sewer (annual)
- $6,048
- Electric (annual)
- $8,400
- Trash (annual)
- $1,920