Multifamily Residence with Bonus
435 S Main Street Middlebury, IN 46540
For Sale
$460,000
MULTI_FAMILY - Middlebury, IN
Property Size4,112 SF
Lot Size0.57 Acres
Price / SF$111.87
Days on Market69
Property Features for 435 S Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 5
- Rooms
- Bedroom 4, Basement, Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 3
- Parking
- 6
- Standard status
- Active
- APN
- 20-08-10-380-016.000-035
- Size
- 4,112 SF
- Lot size
- 0.57 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- IN SE COR SW EX .06A SEC 10 .57A
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Laminate, Wood
- Architectural style
- Other
Listing Agency:
Coldwell Banker Real Estate Group
(574) 522-2822
Listed By:
Jami Stamm
(574) 596-4868
Added: May 19
Changed: Jul 23
Last Checked: Jul 26 at 7:06AM
MLS# 202629722
Copyright © 2026 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily residence features 4 bedrooms and includes a bonus apartment. The property is described as having charming outdoor areas for guests or residents to unwind.
Located on S Main Street in Middlebury, Indiana, the home is noted as sitting on the Pumpkinvine Nature Trail. The remarks also reference proximity to Shipshewana’s flea market and auctions, as well as the Essenhaus Inn & Restaurant.
The listing includes a lot size of 0.57 acres and a total property size of 4,112 square feet.
Located on S Main Street in Middlebury, Indiana, the home is noted as sitting on the Pumpkinvine Nature Trail. The remarks also reference proximity to Shipshewana’s flea market and auctions, as well as the Essenhaus Inn & Restaurant.
The listing includes a lot size of 0.57 acres and a total property size of 4,112 square feet.
Key Highlights
- 4‑bedroom home with multiple bathrooms (6 bathrooms listed)
- Central air cooling
- Flooring includes carpet, laminate, and wood
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.8k | $12.84 |
| − Vacancy | −$4.0k | −$0.96 |
| EGI | $48.8k | $11.88 |
| − OpEx | −$14.7k | −$3.56 |
| NOI | $34.2k | $8.31 |
4,112 SF · lease $12.84/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$488.4K
$427.3K – $569.8K
NOI $34,187 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$435.6K
$381.2K – $508.2K
NOI $30,494 @ 7.0% cap · market cap 6.63%
Theoretical Best
Specialty Retail
$761.3K
$666.2K – $888.2K
NOI $53,292 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - 4-bedroom multifamily home with an additional apartment and outdoor areas on a Main Street setting.
Where is this duplex located?
The property is located at 435 S Main Street Middlebury, IN.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 4‑bedroom home with multiple bathrooms (6 bathrooms listed); Central air cooling; Flooring includes carpet, laminate, and wood
