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107 E Garfield Street, Alexandria, IN
**Bank authorized short sale**Attention investors - Large rental opportunity in the heart of Alexandria. This spacious property is centrally located to the center of town and within 20 minutes of Anderson and 30 from Muncie. This charming 4-bedroom, 1-bath home checks all the right boxes. With 1,608 sq ft of living space, a proven rental history at $900/month, and a flexible floor plan built for tenant appeal, this property is ready to go to work for your portfolio. The layout features multiple living areas, a spacious living room perfect for relaxing, and a formal dining room that adds character tenants love. Four generously sized bedrooms give you flexibility for a variety of rental arrangements - single family, roommate-style, or otherwise. The bones are solid, and the upside is real - targeted updates could push both rental income and ARV significantly higher. Whether you're adding to an existing portfolio or making your first move into the rental market, this one is a practical, low-risk entry point with genuine growth potential. Don't sleep on this one!
Property Type
Single Family
Style
Other
Year Built
1955
Lot Size
4,356 sqft
Price / Sqft
$18
Days on Market
3 days
Full Baths
1
Subdivision
106 North
MLS #
MBR22092580
Listing Type
Residential
Market
MIBOR
Pending
Apr 4, 2026
Elementary
Alexandria Monroe Elementary School
Middle
Alexandria-Monroe Jr./Sr. High School
107 E Garfield Street, Alexandria, IN 46001 — Madison County
Josh Latham
RE/MAX Advanced Realty
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How this home compares across city, state, and national benchmarks
Listed at $49,990, this 4-bed house in Alexandria is 46% below the Census median home value of $92,700 for Alexandria. Compared to 5 other 4-bed homes in Alexandria (averaging $187,978), this property is 73% below average. Indiana's median home value is $139,802, putting this listing 64% below the state benchmark. The U.S. national median home value is $334,900.
Where this listing falls among 23 homes for sale
Alexandria has a population of 5,145 with a median household income of $60,616 and a homeownership rate of 63.8%. The median home value is $92,700 and the median rent is $813/mo.
Sources: U.S. Census Bureau ACS 2023, Fizbo listing data