221 Jackson St, Sullivan, IN 47885

Nice duplex offering immediate cash flow with both units currently occupied by established tenants. Unit 1 rents for $740/month and Unit 2 for $725/month, generating $17,580 in annual gross income and a current cap rate of 5.46% at the list price of $135,500. The property produces a positive NOI of $617/month before debt service — a strong option for investors seeking stable, turnkey income. Current owner covers water, sewer, and lawn care, reflected in the 58% expense ratio, and presents a clear path to improving returns by adjusting utilities or bringing rents to market rate. Value-add cap rate potential of 8.63% offers meaningful upside as leases renew. Schedule your showing today.