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    328 N State St Kendallville, IN 46755

    For Sale
    $370,000

    Fiveplex - Kendallville, IN

    Property size:
    4,078 SF
    Lot size:
    0.25 Acres
    Days on Market:
    26
    Last Refresh:
    Dec 5 at 2:06 am

    Property Features for 328 N State St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    12
    Bathrooms
    5
    APN
    57-07-33-420-085.000-020
    Exterior features
    Basement, Ceiling Fan, Off Street Parking, None
    Basement Y/N
    1
    Appliances
    Range
    Size
    4,078 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Baseboard, Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    5
    Flooring type
    Vinyl
    Architectural style
    Other

    Open Door Rentals and Real Estate LLC (260) 333-7368 [email protected]

    Listing agent Nicole Schnurr (260) 333-7368 License #RB23001727

    Listing date Nov 10, 2025

    MLS# 202540110 Listing URL

    Copyright © 2025 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Kendallville Fiveplex: Investment Opportunity

    This purpose-built five-unit property in Kendallville, Indiana, offers over 4,000 square feet and presents a strong cash flow opportunity with potential for rent increases. The property is fully rented, generating $4,200 per month. Each unit is separately metered with split utilities and individual water heaters; two units also have their own gas meters. Recent updates include a newer metal roof, vinyl siding, and updated water heaters. The property provides ample off-street parking for tenants and is conveniently located near schools, shopping, and downtown Kendallville. Situated on a 0.25-acre lot, this multi-family income property is located at 328 N State Street, Kendallville, IN 46755, in Noble County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kendallville
    County
    Noble
    State
    Indiana
    Longitude
    -85.264635
    Latitude
    41.446823

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    FAQs

    What type of property is this?
    Apartment building - Cash-flowing five-unit property with strong rental income potential.
    Where is this apartment building located?
    The property is located at 328 N State St Kendallville, IN.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: - Strong cash flow potential with $4,200/month income from existing tenants.; - Purpose-built 5-unit property offering over 4,000 sq. ft.; - Separately metered units with split utilities and individual water heaters (two units with gas meters).
    (260) 333-7368
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    328 N State St Kendallville, IN 46755
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    Kendallville, IN 46755
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    328 N State St Kendallville, IN 46755
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