There are a total of 24 units, all of which are currently leased with scheduled rent increases upon renewal. Each of the three buildings comprises four 2-bedroom/1 bath and four 1-bedroom/1 bath units. Notably, each unit offers a vaulted ceiling in the kitchen, dining, and living area, as well as a laundry closet with hook-ups for a stacked washer & dryer. Tenants have access to a community room with a full kitchen, a half-bathroom, and coin-operated laundry. The property has undergone several improvements, including roof replacements and upgraded utility services. Two of the buildings' roofs are only 1 year old, the 3rd roof is 3-4 years old. The owners have provided a list of other improvements that have been made since they purchased the property. As tenants vacated, that unit was rehabbed as needed. There are 40+ parking spaces with designated handicapped parking. Trash removal is included in the rent. Tenants pay all utilities. The property is only shown by appt. Please provide proof of funds or a loan pre-qualification letter before the appt. request. * Please note, the numbers work best for an owner-managed operation.
Directions: In Spencer, from W SR 46, turn north onto 231, follow to CR 1200 S, turn left and travel 1 mile. At the STOP sign, take a slight left onto IN-42 W. Travel 5.4 miles to Cunot-Cataract Rd, turn left, and look for the property on the right.
Subdivision Name: None
Cross Street: IN 42 W
Community Information
Community Features: Clubhouse
Public facts
Beds: —
Baths: —
Sq. Ft.: 7,394
Stories: 1.0
Lot Size: 4.6 acres
Style: Multi-Family (5+ Unit)
Year Built: 1999
Year Renovated: 1999
County: Owen County
APN: 600328300840000019
Home facts updated by county records on Oct 9, 2026
Other
Listing Information
List AOR: Bloomington BOR
AttributionContact: Offc: 812-323-1231
Around this home
Schools
Cloverdale Middle School
Public 5-8 • Assigned • 6.3mi
6/10
Cloverdale High School
Public 9-12 • Assigned • 6.3mi
9/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 103° expected this year, 18 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Poland, IN • 47868
Average low and high temperatures (°F)
33
18
43
27
61
40
69
49
72
54
82
65
86
70
81
64
80
57
71
49
54
39
42
29
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.9 hours in
June and 3.5 hours in December, placing it below the
U.S. average for solar exposure.