Listing courtesy of RK Brokerage LLC · Listing agent: Chadd Huffman
627 S Frederick Street
New Harmony, IN 47631Country Terrace
- Basement
- Bedrooms
- 8
- Bathrooms
- 8
- Living area
- 6,109 sq ft
- Lot
- 0.25 ac
- Year built
- 1970
- Type
- Eightplex
- Listed
- August 4, 2026
- MLS #
- 202631594
About this home
Excellent investment opportunity in the heart of New Harmony! This income-producing 8-unit multifamily property offers a strong rental portfolio with value-add potential. The building consists of three 1-bedroom units, three 2-bedroom units, and two 3-bedroom units, providing a desirable mix of floor plans to attract a variety of tenants. Numerous recent updates have been completed, including updated HVAC systems in the majority of the units, helping reduce future maintenance costs and improve tenant comfort. A portion of the basement offers individual storage areas for tenants, while additional space presents the opportunity to add a shared laundry facility, creating the potential for an additional income stream. The property also features ample off-street parking, adding convenience for residents. Whether you're looking to expand your investment portfolio or capitalize on future upside through additional improvements, this well-located New Harmony multifamily property is one you won't want to miss.
Monthly payment estimate
$2,527/mo
- Principal & interest
- $2,053
- Property taxes
- $365
- Homeowners insurance
- $109
- 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
- Three Or More
- Stories
- 3
- Total area
- 6,109 sq ft
- Finished area above grade
- 6,109 sq ft
- Bedrooms above grade
- 8
- Basement
- Partially Finished
- Flooring
- Carpet, Vinyl
- Heating
- Natural Gas
- Cooling
- Central Air
- Amenities
- Off Street Parking, Eat-In Kitchen
Exterior & parking
- Style
- Traditional
- Construction
- Vinyl Siding
- Roof
- Shingle
- Foundation
- Block
- Parking
- Gravel, Off Street, Paved
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Subdivision
- Country Terrace
- Lot features
- Level
- Lot size (acres)
- 0.25 ac
- Lot dimensions
- 50x219
- Location type
- City/Town/Suburb
- Inside city limits
- Yes
- County
- Posey County
- Township
- Harmony
- Platted
- Yes
- Planned unit development
- No
- Directions
- Hwy 66 west to south on Hwy 69 to west on Brewery St to south on East St
Schools
- Elementary school
- Farmersville
- Middle school
- Mount Vernon
- High school
- Mount Vernon
- School district
- MSD of Mount Vernon
Taxes & terms
- Annual taxes
- $4,378
- Tax year
- 2026
- Tax exemptions
- No Exemptions
- Listing terms
- Conventional
- Possession
- Subject to tenants rights
- Parcel number
- 65-26-01-210-018.000-007
Included in the sale
- Included in sale
- Building
- Excluded from sale
- Tenant Belongings
Utilities
- Water
- City
- Sewer
- Public Sewer
- Electric provider
- CenterPoint Energy
- Gas provider
- CenterPoint Energy
Income & commercial
- Units
- 8
- Annual gross rent
- $59,520
- Net operating income
- $44,642
- Parking spaces
- 20
- Pets allowed
- No
- Tenant pays
- Cooling, Electricity, Heat
- Electric meters
- 8
- Gas meters
- 8
- Water meters
- 8
- Trash (annual)
- $2,500
- Maintenance (annual)
- $8,000