Skip main navigation
Active
    • Price cut: $4.5K (5/12)
    $235,000

    803 & 805 Reason Ave #111, Loogootee, IN 47553

    5beds
    1,880sqft
    : 
    Loading
    Get pre-qualified
    Multi Family
    Built in 1991
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Two spacious city lots
    Prime Investment Opportunity – 2 City Lots with Multiple Income Streams Unlock exceptional rental potential with this unique property featuring two active rentals plus room to add a third. Situated on two spacious city lots, this investment offers flexibility, strong cash flow, and desirable long-term upside. Return on Investment in just 7 years. Property Highlights: Two current rentals producing income: • 3 Bed 1 Bath, Mobile Home Rental – steady tenant appeal - 12 x 70 (840 SF) • 2 Bed 1 Bath Pole Barn House Rental – versatile living space with solid rental history - 40 X 26 (1040 SF) Expandable Portfolio – The additional vacant lot already has electric, water, and sewer, making it ideal for adding a third rental unit with minimal groundwork. Low-maintenance setup designed for reliable occupancy and attractive returns. Convenient in-town location, close to amenities such as swiming pool , city Park, Pickle Ball courts, and ample employment opportunities, boosting rental demand. Currently on 1 year leases that expire 1 Nov 2026. Whether you're expanding your investment portfolio or seeking a property with immediate income and clear potential for growth, this one checks all the boxes.
    249 days
    |
    104
    |
    4
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Barb Hays Office:812-482-1424,

    F.C. TUCKER EMGE

    Source: IRMLS,MLS#: 202546179MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 2
      • Full bathrooms: 2
      Heating
      • Electric, Natural Gas, Forced Air
      Cooling
      • Central Air
      Appliances
      • Included: Electric Water Heater
      Features
      • Flooring: Carpet, Vinyl Tile, Vinyl
      • Basement: None
      Interior area
      • Total structure area: 1,880
      • Total interior livable area: 1,880 sqft
      • Finished area above ground: 1,880
      • Finished area below ground: 0
      Video & virtual tour

      Property

      Parking
      • Total spaces: 4
      • Parking features: Off Street, Off Street Parking, Gravel
      • Has uncovered spaces: Yes
      Features
      • Stories: 1
      • Patio & porch: Deck Covered
      Lot
      • Size: 0.45 Acres
      • Features: Corner Lot, Level, City/Town/Suburb
      Details
      • Additional structures: None
      • Additional parcels included: 5108-25-200-184.000-008
      • Parcel number: 510825200185.000008

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Other
      • Property subtype: Multi Family
      Materials
      • Aluminum Siding, Vinyl Siding
      • Roof: Asphalt,Metal
      Condition
      • New construction: No
      • Year built: 1991

      Utilities & green energy

      • Electric: Duke Energy Indiana
      • Gas: Other
      • Sewer: City
      • Water: City

      Community & HOA

      Community
      • Subdivision: None
      Location
      • Region: Loogootee

      Financial & listing details

      • Annual tax amount: $915
      • Date on market: 11/15/2025
      • Listing terms: Cash,Conventional
      • Inclusions: Building, Land
      • Lease term: 12 Months
      • Total actual rent: 18600
      • Tenant pays: Cable TV, Electricity, Heating, Sewer, Trash Collection, Water
      • Road surface type: Paved

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        5/12/2026Price change$235,000-1.9%
        Source: IRMLS #202546179 Report a problem
        3/30/2026Price change$239,500-4%
        Source: IRMLS #202546179 Report a problem
        11/15/2025Listed for sale$249,500
        Source: IRMLS #202546179 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
        Get pre-qualified

        Climate risks

        Neighborhood: 47553

        Getting around

        25 / 100
        Car-Dependent
        37 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Loogootee
        • Middle: Loogootee
        • High: Loogootee
        • District: Loogootee Community S.D.

        Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        Browse local experts

        Similar homes

              Nearby cities

              Nearby zip codes

              Other Loogootee Topics

                Search
                Updates
                Favorites
                Plan
                Inbox