946 Saddle Tree Lane Madison, IN 47250
Single Family Detached
MLS #: 2024012709
Courtesy Of eXp Realty, LLC
Property InformationDescription
Discover a fantastic investment opportunity with this 3-unit residential and 2 car garage rental property conveniently located in downtown Madison and minutes from the Madison Hilltop. The property features two one-bedroom apartments on the second floor, a first-floor efficiency unit, and a shared utility room with a coined washer and dryer. Additionally, a spacious 23x26 two-car garage offers extra storage or rental potential. With its prime location and income-generating design, this property is a must-see for investors. Tenants are on a month to month lease at $650/month, includes water, sewage, trash and internet. Internet is $60/month. Tenants pay electric and provides their own window a/c units. Apartments are metered separately. Tenants in units 1 & 2 have been there over 4 years, efficiency unit has new tenant. Garage is used by seller, but could rent for $300- $400/month. Only one of the garage doors has an opener. Washer & Dryer produces about $50/month in income.
Features
- Age: Over 50 Years Old
- Appliances: Dryer, Range, Refrigerator
- Architecture Style: Other
- Heating System: Baseboard, Forced Air
- Lot Size: 0.08 Acres
MAP & DIRECTIONS
School Information
946 Saddle Tree Lane, Madison, IN 47250
Elementary School
Grades 4-8 |
Public School
MADISON CONSOLIDATED JR HIGH SCHOOL
Madison, IN 47250
701 8th St
812.274.8003
Distance: 2.4 mi
School Rating
C+
Student:Teacher Ratio
74:1
Total Students
814
Elementary School
Grades PK-4 |
Public School
LYDIA MIDDLETON ELEMENTARY SCHOOL
Madison, IN 47250
714 W Main St
812.274.8005
Distance: 0.8 mi
School Rating
A-
Student:Teacher Ratio
16:1
Total Students
306
Middle School
Grades 4-8 |
Public School
MADISON CONSOLIDATED JR HIGH SCHOOL
Madison, IN 47250
701 8th St
812.274.8003
Distance: 2.4 mi
School Rating
C+
Student:Teacher Ratio
74:1
Total Students
814
High School
Grades 9-12 |
Public School
MADISON CONSOLIDATED HIGH SCHOOL
Madison, IN 47250
743 Clifty Dr
812.274.8408
Distance: 2.6 mi
School Rating
C+
Student:Teacher Ratio
17:1
Total Students
778
| Other Nearby Schools | Distance | Type | Grades | School Rating |
|---|---|---|---|---|
| Pope John Xxiii Elementary School | 1.3 mi | Private | PK-6 | |
| Anderson Elementary School | 2.1 mi | Public | PK-4 | C |
| E.o. Muncie Jr/sr High School | 2.1 mi | Public | 7-12 | |
| Rykers' Ridge Elementary School | 3.1 mi | Public | PK-4 | B- |
| Milton Elementary School | 3.6 mi | Public | PK-6 | F |
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
Demographic Data
Madison, IN 47250
| Median Age: | 43.8 |
|---|---|
| Married: | 41% |
| Number of Households: | 9,226 |
| Households with Children: | 29% |
Madison, IN 47250
Demographic Data
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Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
-
Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
Copyright © 2025 Southern Indiana REALTORS Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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.
