314 W Association Street, Ellettsville, IN

About 314 W Association Street

Investment opportunity with flexibility and upside potential! This duplex, situated on two parcels totaling just over 0.4 acres, offers solid rental history and room to grow. Both units have long-term tenants (since 2019 and 2020) with current rents of $920 for the two-bedroom plus office and $850 for the one-bedroom—leaving space to bring rents to market rates in the future. The larger unit includes an office that could be enclosed to create a third bedroom plus access to half the basement. The other half of the basement (or even 2/3 of the basement) featuring egress windows—presents an opportunity for a third unit (check local regulations) or rentable storage space. Property has been professionally managed and well maintained, with tenants responsible for most utilities. Two-bedroom lease runs through June 2026; one-bedroom lease through April 2026. Two parcels included in sale. Ellettsville is in high demand for rentals as businesses continue to expand west and several large employers grow.

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