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.
Active
$895,000
509 SE 1st St, Evansville, IN 47713
15beds
8,327sqft
Multi Family
Built in 1919
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 33 days
- 840
- 38
Zillow last checked:
Listing updated:
Listed by:
Ashley Riordan-Elpers 812-598-0238,
Rental Property Realty
Source: IRMLS,MLS#: 202631399
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 15
- Bathrooms: 11
- Full bathrooms: 11
Heating
- Natural Gas, Forced Air
Cooling
- Central Air
Features
- Entrance Foyer
- Flooring: Laminate, Wood
- Basement: Partial
Interior area
- Total structure area: 8,327
- Total interior livable area: 8,327 sqft
- Finished area above ground: 8,327
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Off Street Parking
Features
- Stories: 2
Lot
- Size: 0.39 Acres
- Dimensions: 112.5 x 150
- Features: Level, Historic Designation, Historic District
Details
- Additional structures: None
- Parcel number: 820630020075.009029
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick, Wood Siding
- Roof: Asphalt,Rubber,Shingle
Condition
- New construction: No
- Year built: 1919
Utilities & green energy
- Sewer: City
- Water: City
Community & HOA
Community
- Subdivision: None
Location
- Region: Evansville
Financial & listing details
- Tax assessed value: $580,000
- Annual tax amount: $12,432
- Date on market: 8/3/2026
- Listing terms: Cash,Conventional
- Inclusions: Building, Business, Land, Lease
- Lease term: Other
- Total actual rent: 105036
- Tenant pays: Cable TV, Cooling, Electricity, Heating
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/3/2026 | Listed for sale | $895,000 |
Source:  IRMLS #202631399 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,455 +72.7% | $580,000 +0.5% |
| 2024 | $7,213 -1% | $577,200 +73.8% |
| 2023 | $7,287 +6.7% | $332,100 -0.5% |
| 2022 | $6,832 +2.3% | $333,700 +8.6% |
| 2021 | $6,676 +0.6% | $307,400 |
| 2020 | $6,637 -0.2% | $307,400 |
| 2019 | $6,652 -0.2% | $307,400 +0.2% |
| 2018 | $6,665 +4.3% | $306,900 +0.4% |
| 2017 | $6,388 | $305,700 +4.5% |
| 2016 | $6,388 +2.7% | $292,500 +2.8% |
| 2014 | $6,223 +0.1% | $284,500 -0.9% |
| 2013 | $6,217 +7.1% | $287,100 +2.5% |
| 2010 | $5,806 +1.6% | $280,100 |
| 2009 | $5,713 | $280,100 +7.7% |
| 2008 | -- | $260,000 +10.5% |
| 2007 | -- | $235,400 |
| 2006 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Wheeler
Nearby schools
Schools provided by the listing agent
- Elementary: West Terrace
- Middle: Perry Heights
- High: Francis Joseph Reitz
- District: Evansville-Vanderburgh School Corp.
Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
