550 Monroe St
Property Description
This is a public online auction to be held on October 27, 2026. An auction is a transparent way to achieve true price discovery through competitive bidding. The price shown is not the list price. Please visit our site to view the current bid, bidding instructions, and complete auction terms. Two homes, proven rental history, and room for future possibilities, all on one approximately half-acre parcel in downtown Madisonville! These charming, century-old homes are clean, well-maintained, and full of character. Currently used as rental properties, with one home presently tenant-occupied, they offer proven rental history and an attractive opportunity for investors seeking income-producing real estate. The main home offers approximately 1,600 square feet, according to public records, and has been used as a 3-bedroom, 1.5-bath home, featuring a large living area and a finished entry area. The secondary home has been used as a 3-bedroom, 2-bath home, with approximately 800 square feet plus a newer addition of approximately 140 square feet, for a combined estimated total of 940 square feet. The two-home setup also offers possibilities for multigenerational living, allowing family members to live close while maintaining their own space. Consider living in one home and renting the other for additional income. A 24-by-30-foot, two-car garage with plumbing and electrical already installed adds storage and parking, with potential for conversion into a third dwelling, subject to zoning, permits, utility capacity, and applicable approvals. Whether you are seeking rental income, flexible living arrangements, or future investment potential, this downtown Madisonville property deserves a closer look! All square footage is approximate. Buyer to verify measurements, bedroom and bathroom counts, property details, existing lease terms, and permitted uses, including the feasibility of any garage conversion. Review all auction terms before bidding. TAL 7424. 10% Buyer's Premium.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $329,000 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 4 |
ID: 3yd-NYSMLS-12063263
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