500 N College, Salem, IN 47167
Washington County
Key Facts
Description
Whether you're looking to expand your investment portfolio or live in one unit while generating income from the other, this WELL MAINTAINED DUPLEX is a must see! With both units producing over $1,700 per month in gross rental income, this property offers immediate earning potential. Conveniently situated near shopping, dining, schools, and other local amenities, the location is hard to beat. Each unit features a spacious open-concept layout that seamlessly connects the living room, kitchen, and dining area. The kitchens offer ample workspace with a large breakfast bar, perfect for everyday living and entertaining. You'll also appreciate the 2 generously sized bedrooms sharing 1 large bathroom, oversized utility room, and the added storage provided by the large attached shed accessible from the patio area. Each unit currently rents for $875 per month, tenants are currently under provided leases and are wonderful to work with. Don't miss this rare opportunity to own a versatile, income-producing property in a prime Salem location!
Property Information
Property Type
Residential
Sub-Type
Duplex
Structure Type
Duplex
Year Built
2021
Living Area
1,740 sq ft
Lot Size
0.25 acres
Zoning
Residential,Multi Family
Days on Market
28
MLS® Listing#
202609242
Property Features
Interior
Appliances
Cooling
Heating
Parking
Patio
Lot Features
Construction
Community
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$4,720
Parcel Number
1317224017000022
Directions
Take Hwy 56 west from 4 way of 135 & 56, Take a left on College, Duplex will be on the corner of College Ave and Salem Ave.
Affordability Calculator
$43,980
Estimated monthly payment
$1,170/mo
Principal $175,920 · Est. interest $245,424 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Salem, IN
- $237,931
- Median Listing Price
- 58
- Median Days on Market
- 1,404
- Median Sq Ft
- $156
- Median Price / Sq Ft
- 65
- Active Listings
- This home’s price is 8% below the area median.
- Its price per sq ft is 19% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Salem, IN.
Location
Points of Interest in Salem, IN
Showing the Salem area map.
Nearby Schools
Salem Schools
School · 0.4 mi away
Salem High School
Secondary · 0.5 mi away
Salem Middle School
Secondary · 0.5 mi away
Bradie Shrum Elementary
Elementary · 0.6 mi away
West Washington School Corporation
Elementary · 7.6 mi away
East Washington Middle School
Secondary · 8.4 mi away
Southern Hills Mennonite School
School · 10.5 mi away
William W Borden High School
Secondary · 12.7 mi away
Borden Elementary School
Elementary · 12.7 mi away
Medora Junior Senior High School
Secondary · 15.3 mi away
Morgan Elementary School
Elementary · 16.2 mi away
Greenville Elementary School
Elementary · 17.2 mi away
Scottsburg Senior High School
Secondary · 17.9 mi away
Scottsburg Elementary School
Elementary · 18.2 mi away
Vienna-Finley Elementary School
Elementary · 18.2 mi away
Austin Elementary School
Elementary · 18.3 mi away
Scott County School District 1
School · 18.4 mi away
Henryville Junior & Sr High School
Secondary · 18.4 mi away
Austin High School
Secondary · 18.4 mi away
Brownstown Elementary School
Elementary · 18.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 409 N Water Street, Salem, IN | $155,000 | 3 | 2 | 1,520 |
| 116 Nichols Avenue, Salem, IN | $165,000 | 3 | 1 | 1,056 |
| 801 N College Avenue, Salem, IN | $170,000 | 3 | 1 | 1,079 |
| 120 N Nichols Avenue, Salem, IN | $174,900 | 3 | 1 | 1,092 |
| 102 Nichols Avenue, Salem, IN | $175,000 | 3 | 1 | 1,192 |
| 202 Willow, Salem, IN | $175,900 | 3 | 1 | 1,040 |
Moving Cost Estimate
EXIT Agents in Salem
Listing Courtesy: Knobstone Properties LLC - 812-620-1966
Last Updated: 2026-06-15