1628 W 8th Street, Anderson, IN 46016

Property Description

$7,500 Grant + Brick Triplex - House Hack or Cash Flow Opportunity like this doesn't come around often. This solid brick triplex listed at $198,000 previously generated $2,650/month in rent, delivering approximately a 1.34% rent-to-price ratio. For owner-occupants, the property is eligible for a $7,500 grant with no income restrictions, potentially covering most or all of your down payment and then some for qualified buyers-making this an exceptional house hacking opportunity. The building includes three units, with two currently vacant, allowing the next owner to move in and select their preferred unit or place new tenants at market rent. Units are currently being turned and will be marketed for rent during market time, creating immediate upside potential. All three units were renovated in 2025, including many new windows, giving the property a fresh feel while minimizing near-term capital expenses. Tenants pay all utilities and handle lawn care, keeping operating costs low for the owner. A two-car garage offers additional rental income potential, further increasing the property's cash flow. Brick construction, recent renovations, flexible occupancy, and grant money available-this is a rare opportunity for both investors and house hackers.

Listing Status:

Pending

Data Last Updated:

April 3, 2026 at 4:17AM

Listing Office:

Inspired Realty : 317-732-7002

Listing Agent:

Alyssa Burton : 317-732-7002

MLS ID:

22089294

Location

• Originating MLS: mibor
• School District: Anderson Community School Corp
• County: Madison

Lot

• Zoning: Bernards 0.0000Acres Str: 00000 Section: Plat: 00 In: Out:481111403004000003
• Current Use: Apt<20

Financial

• Source: mibor