# 615 - 615 1/2 Madison Avenue, Anderson, IN 46016

> **TL;DR:** 3bd/2ba multi-family, $112,900 ($58/sqft), 1,952 sqft. Est. $489/mo. Listed 5 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $112,900 |
| Price/sqft | $58 |
| Bedrooms | 3 |
| Bathrooms | 2 full |
| Square Feet | 1,952 |
| Lot Size | 6,098 sqft (0.14 acres) |
| Stories | 2 |
| Property Type | Multi-Family (Duplex) |
| Status | For Sale |
| Days on Market | 5 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $489 |
| **Total** | **$489** |

## Nearby Schools

- **Elementary:** Anderson
- **Middle:** Highland
- **High:** Anderson

## Property Highlights

- 0.14 acre lot
- 2 stories

## Description

### Agent Description
This package features six consistently high-demand rental duplex properties (12 units) situated in the Anderson, IN market. The portfolio offers a secure, well-managed investment with immediate upside potential. Stable Income Stream: The properties demonstrate strong, reliable cash flow, supported by excellent historical rent collection and exceptional occupancy rates (minimal historical vacancy). Turnkey Efficiency: Current owners have meticulously maintained the units, significantly minimizing the need for immediate Capital Expenditure (CapEx). Value-Add Opportunity: Current rents are below prevailing market rates for comparable local properties, providing a clear path for substantial income growth through gradual rent increases to achieve market value. Tenant Stability: Due to diligent maintenance, the properties have high long-term tenant satisfaction, contributing to low turnover. Seller will sell individually or as a group-addresses: 403-405 W 5th St, 1105-1107 W 11th St, 1109-1111 W 11th St, 1303-1305 Sycamore, 615-615 1/2 Madison and 1815 - 1815 1/2 Fletcher.

## Location

- **Address:** 615 - 615 1/2 Madison Avenue, Anderson, IN 46016
- **County:** Madison County
- **Neighborhood:** Other
- **Coordinates:** 40.10926625, -85.69213435
- **Google Maps:** https://www.google.com/maps?q=40.10926625,-85.69213435

## Listing Agent

- **Name:** Ryan Orr
- **Brokerage:** RE/MAX Real Estate Groups
- **Phone:** 7657449500
- **Email:** ryan.orr@orrhomes.com

## Primary Photo

![615 - 615 1/2 Madison Avenue - Primary Photo](http://lh.rdcpix.com/6675ab25ad8a8cfd4827307d70a6980fl-f3693998038r.jpg)

*19 total photos available on [listing page](https://www.propertysimple.com/listing/615-615-1-2-madison-avenue-anderson-in-46016-02613954)*

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**MLS#:** 202613954 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/615-615-1-2-madison-avenue-anderson-in-46016-02613954)

---

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