Address
502 S 12th Street, New Castle, IN
Price
$ 164,900
Property Attributes
  • MLS#202632411
  • TypeMulti-Family
  • Listing Status Pending
  • CountyHENRY
  • CityNew Castle
  • AreaHenry
  • Zip47362
  • StyleTraditional
  • Year Built1900
  • Taxes$ 1536
  • Price$ 164,900
  • Bedrooms6
  • Full Bathrooms2
  • Half Bathrooms2
  • Sqr Footage2688
Data Source:
Indiana Regional MLS (IRMLS)
Property Description

This duplex sits just minutes from downtown and offers two spacious units, each with 3 bedrooms, 1 baths, a formal dining room, fireplace, tall ceilings, large rooms, fenced backyard space, and its own laundry hookup downstairs. One unit has a long-term tenant already in place, providing income from day one. The second unit is expected to be vacant by the end of the month, giving the next owner the flexibility to renovate, re-lease, or occupy it depending on the plan. A couple of the bigger-ticket items have already been handled, including a new roof this year and a new sewer line from the house to the road. For an investor looking for a property with an existing tenant, a vacant unit to reposition, and plenty of square footage to work with, this one gives you options.

Elementary School Middle School High School
Parker Elementary School New Castle Middle School New Castle High School
Price History
8/10/2026 Listed $169,900
9/9/2026 3$164,900

General Features

Heating Gas,Forced Air
Cooling None
Sewer City
Status Pending
Full Baths 2
Half Baths 2
Bathrooms 4
Year Built 1900
Parking Street
New Construction No
Tenant Pays Electric,Fuel
Subdivision None
Style Two Story
Stories Count 2
Township Henry
Class INVESTMENT
Type Duplex
Age 126
Net Income 13547.76
Lot Number 2
Rent Income 20400
FIPS Code 18065
OwnerPays Sewer,Trash Collection
Features Basement,Ceiling Fan,Fenced Yard,Cable Available,Countertops-Laminate,Porch Covered,Washer Hook-Up
Associated Document Count 2
REO No
Annual Insurance Expense 1107
Status Pending
Auction Y/N No
Common Amenities None
Area Henry County
Location City/Town/Suburb
High School New Castle
City New Castle
School District New Castle Community School Corp
Assoc. Dues Frequency Not Applicable
Pet Restrictions Y/N No
Architectural Style Traditional
Total Sq Ft 4032
Elementary School Parker
Middle School New Castle
Legal Description W MURPHEYS ADD PT LOT 2 BLK 3
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202632411
Agent First Name Krista
Agent Last Name Gibson
DOM 38
Tax Year 2026
PROPOSED FINANCING Cash,Conventional

Interior Features

Basement Full Basement,Unfinished
Flooring Laminate,Wood
Beds 6
Total Number of Units 2
Unit 1 SqFt 1344
Unit 2 SqFt 1344
Refrigerators 2
Total Finished SqFt 2688
Basement Y/N Yes
Above Grade Bedrooms 6
Ranges/Ovens 2
W/D Hookups 2
Above Grade Finished SqFt 2688
Below Grade Unfin. SqFt 1344
Main Level SqFt 1344
Num. of 3 Bedrooms 2
Unit 1-# of Bathrooms 2
Unit 1-# of Bedrooms 3
Unit 2-# of Bathrooms 2
Unit 2-# of Bedrooms 3
Basement Material Block

Exterior Features

Exterior Aluminum
Driveway None
Pool No
Number of Parking Spaces 4
Lot Size Area 5140
Lot Dimensions 66X78
Lot Description 0-2.9999
Fence Chain Link
Outbuilding None
Water Features None
Approx. Lot Size Acres 0.12
ROOF MATERIAL Shingle
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool


IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided by the Indiana Regional MLS. Information last updated on September 22, 2026 12:53 AM UTC

Property vs Multi-Family Average in 47362

Price
AVG $230K
$160K
Taxes
AVG $1,847
$1,536
Year Built
AVG 1937
1900
Visits
AVG 24
7
Data Provided by Inside Real Estate®