712 Se Second St, Evansville, IN 47712

Property Description

Own a Piece of Downtown Evansville History—With Income Already in Place and Even More Potential! This historic brick property blends timeless character, modern updates, and investment opportunity just steps from Evansville’s beautiful riverfront. Located on SE Second Street, one block from SE First Street, the property includes the adjoining vacant lot at 710 SE Second Street, providing valuable outdoor space and future possibilities rarely found downtown. With historic records dating the home to 1865, the property was converted into apartments in 1926, featuring charming sunrooms and sundecks. Today, it offers two income-producing units generating a combined $3,500 in monthly rent. The downstairs unit rents for $1,850 per month, including utilities. The upstairs unit rents for $1,650 per month, with sewer and trash included; the tenant pays the remaining utilities. An electric water heater serves both units, and the owner maintains and pays the downstairs electric account. Inside, appreciate the craftsmanship of a bygone era, including beautiful hardwood floors, tall ceilings, and original mahogany and oak doors and trim. Practical updates include PEX plumbing with labeled shutoffs. The possibilities continue with an unfinished area at the rear of the home offering potential for an additional rental unit, subject to applicable approvals. The impressive two-story garage features insulation, gas heat, 100-amp electrical service, and a floor drain. Upstairs is an unfinished apartment space with hardwood floors and plumbing rough-ins. With finishing work, this space could potentially become another income-producing rental or Airbnb retreat, subject to applicable approvals. Outside, enjoy a fenced yard, private courtyard, and gated off-street parking with convenient alley access. The adjoining vacant lot adds even more flexibility and opportunity. Whether you're looking to expand your investment portfolio, explore additional rental possibilities, or eventually live in one unit while the other helps pay the mortgage, this property offers tremendous versatility. The original deed, abstract, and historic documents convey with the sale, preserving a special piece of Evansville’s past.