5 UNIT INCOME PROPERTY - Unit #4 needs renovating and is not rentable in its present condition. All 4 tenants are multi-year tenants that have been paying $600./month and have all agreed to pay $700./month beginning August 1, 2025. Owner pays all utilities. Tenants own the air conditioners. New gas water heater in 2024. Expense figures in far right column of info sheet (Annual Exp Paid by Owner) are actual expenses for calendar year 2024. Income figures in the Additional Information column are proforma. 12x8 shed goes with this property. Owner does not know where the east or south property lines are.
Closed
$218,000
559 W Washington St, Frankfort, IN 46041
5beds
2,710sqft
Multi Family
Built in 1890
-- sqft lot
$-- Zestimate®
$--/sqft
$2,139 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,139/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Dave Rodkey Main:765-659-1828,
Dave Rodkey, REALTORS
Bought with:
Alex C Risse, RB14045839
Risse Realty
Source: IRMLS,MLS#: 202525419
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 5
- Full bathrooms: 5
Heating
- Natural Gas, Hot Water
Cooling
- None
Appliances
- Included: Gas Water Heater
Features
- Flooring: Carpet
- Basement: Partial,Brick
Interior area
- Total structure area: 2,710
- Total interior livable area: 2,710 sqft
- Finished area above ground: 2,710
- Finished area below ground: 0
Property
Parking
- Parking features: Basement
- Has attached garage: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Porch Covered
Lot
- Size: 6,534 Square Feet
- Dimensions: 51x152
- Features: Corner Lot, City/Town/Suburb
Details
- Additional structures: Shed(s)
- Parcel number: 121010180001.000021
- Zoning: B2
- Zoning description: CB Central Business
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Roof: Shingle
Condition
- New construction: No
- Year built: 1890
Utilities & green energy
- Electric: Frankfort Munic. Util.
- Gas: CenterPoint Energy
- Sewer: City
- Water: City
Community & HOA
Community
- Subdivision: Other
Location
- Region: Frankfort
Financial & listing details
- Tax assessed value: $136,000
- Annual tax amount: $2,980
- Date on market: 7/1/2025
- Inclusions: Building, Land
- Lease term: Month To Month
- Total actual rent: 33600
- Tenant pays: None
- Road surface type: Asphalt
Price history
| Date | Event | Price |
|---|---|---|
| 8/1/2025 | Sold | $218,000-4.8% |
Source:  IRMLS #202525419 Report a problem | ||
| 7/17/2025 | Pending sale | $229,000 |
Source: IRMLS #202525419 Report a problem | ||
| 7/1/2025 | Listed for sale | $229,000+689.7% |
Source: IRMLS #202525419 Report a problem | ||
| 12/11/2017 | Sold | $29,000$11/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,951 +35.7% | $136,000 +9% |
| 2024 | $2,175 +0.5% | $124,800 +42.8% |
| 2023 | $2,165 +20.8% | $87,400 -0.1% |
| 2022 | $1,792 -1.2% | $87,500 +25.4% |
| 2021 | $1,815 -0.1% | $69,800 -0.1% |
| 2020 | $1,817 +12014.1% | $69,900 |
| 2019 | $15 | $69,900 |
| 2018 | $15 -52.4% | -- |
| 2017 | $32 | -- |
| 2016 | -- | -- |
| 2014 | -- | -- |
Find assessor info on the county website
Neighborhood: 46041
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Nearby schools
GreatSchools rating
- 5/10Green Meadows Intermediate ElementaryGrades: 3-5Distance: 1.1 mi
- 7/10Frankfort Middle SchoolGrades: 6-8Distance: 1.9 mi
- 3/10Frankfort Senior High SchoolGrades: 9-12Distance: 1.7 mi
Schools provided by the listing agent
- Elementary: Blue Ridge / Green Meadows
- Middle: Frankfort
- High: Frankfort
- District: Community Schools of Frankfort
Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Indiana
- Clinton County
- Frankfort
- 46041
- 559 W Washington St
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