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31 N Madison Ave, Hanover, IN, 47243

$225,000

Home List Price

$2,672*

Closing Credit

0 Baths
Multi

Location

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31 N Madison Ave, Hanover$225,000

Buyer Closing Credits

$2,672*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Year Built1932
HeatingBaseboard, Forced Air
CoolingWindow Unit(s)
BasementYes
MLS #22011974
Lot Size0.73 Acres
StatusActive

About 31 N Madison Ave

Buy a home or buy an opportunity? This property is a dream come true for the one who appreciates investment opportunity. 6 apartments are currently rented, and a 7th apartment awaiting your unlimited imagination to design and finish! You can call the shots on how simple or luxurious you'd like to live in this one, or you can finish and have a 7th apartment to rent. This building is functioning in its current condition; however it could use quite a bit of TLC. Upgrades that have been accomplished already include a new roof in 2019, apartment 1 (and a half) totally renovated in 2020, also exterior deck and stairs replaced in 2024 and upgraded to a covered porch. Buy this instead of a moderate single family home, of the same price, and after you finish renovations on the 7th apartment to your liking, you will enjoy a built in residual income for years to come. So, plan appropriately and you can live for free! Pretty smart. This property was at one time The Hanover Hotel, then it was converted into apartments in the 1970's and still serves as apartments. Current renters have leases that must be honored, expiring at different times. 3 of the occupants have lived here for 4 years.

Property Details

Property Features

Property Information:

  • Architectural Style: Multi-Level
  • Year Built: 1932

Listing Office:

  • Office Name: Guardian Realty, LLC
  • Office Email: CallNancyHorton2Move@yahoo.com
  • Listing Agent: Nancy Horton

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Exterior Information:

  • Exterior: Balcony, Outdoor Fire Pit

Lot Features

Lot Information:

  • Lot Size: 0.73 Acres

Utilities

Utilities Information:

  • Heating: Baseboard, Forced Air
  • Cooling: Window Unit(s)

Other

Directions Information:

  • Directions: GPS Friendly

Price Information

Listing Price Info

Price Summary:

  • List Price: $225,000

Tax Information:

  • Annual Amount: $2,306
  • Tax Year: 2020
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MLS Details

MLS Information:

  • MLS Name: MIBOR
  • MLS Number: #22011974

Listing Office:

  • Office Name: Guardian Realty, LLC
  • Office Email: CallNancyHorton2Move@yahoo.com
  • Listing Agent: Nancy Horton

IDX Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Copyright ©2024 MIBOR REALTOR® Association. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information submitted to the Broker Listing Cooperative listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. All data is obtained from various sources and may not have been verified by broker or Broker Listing Cooperative listing service. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Last updated on: 12/21/2024, 8:16:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$2,306$115,300
2018$2,306$115,300
2017$995$114,100

History based on county public records data.

Payment Calculator

$1,190

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$741

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-775397
5
/10
  • Southwestern Elementary School

  • 273 Marine St

  • 0.62 miles

  • Public District Grades PK-5

school-card-donut-775398
7
/10
  • Lydia Middleton Elementary School

  • 714 W Main St

  • 4.55 miles

  • Public District Grades PK-4

school-card-donut-775399
5
/10
  • Anderson Elementary School

  • 2325 Cherry Dr

  • 5.65 miles

  • Public District Grades PK-4

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $35,872. Most Jefferson County, IN residents have annual incomes less than $35k. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas


Rocket HomesIndianaJefferson CountyHanover4724331 N Madison Ave

This home is located at 31 N Madison Ave in Hanover, IN and zip code 47243. This home, which was built in 1932, sits on a 0.73 acre lot. It has been listed on Rocket Homes since November 18, 2024 and is currently priced at $225,000.

The number of listings in Jefferson County, IN increased by 15.8% between October 2024 and November 2024. In November 2024, listings were on the market for 85 days. During the same period, the median list price in this real estate market was $229,900.

From Rocket Homes Real Estate and based on county public records data.

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