Duplex with In-Unit
For Sale
$149,000
605 N Huntington Street, Syracuse, IN 46567
INVESTMENT, Two Story, Syracuse, IN
Property Size1,278 SF
Lot Size0.09 Acres
Price / SF$116.59
Days on Market151
Property Features for 605 N Huntington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Parking
3
Lot features
Corner, 0-2.9999
Elementary school
Syracuse
Middle school
Wawasee
High school
Wawasee
Elementary school district
Wawasee
Middle school district
Wawasee
High school district
Wawasee
Directions
N Huntington St is IN 13. From IN 15 heading north, turn right onto E 1300 N, turn left onto N Main St, Turn right onto N Huntington St/IN 13. Property is on the right.
Subdivision
Kosciusko County
Standard status
Active
APN
43-04-06-200-336.000-026
Size
1,278 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
8-24-98 S 1/2 LOT 41 SYRACUSE
Tax Annual Amount
1360
Legal Description
8-24-98 S 1/2 LOT 41 SYRACUSE
Amenities
in-unit laundry
covered front porch
Building Details
Year built
1918
Floors in Building
2
Number of units
2
Flooring type
Laminate
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Results · RE/MAX International
(574) 269-6911
Listed By:
James Bausch · License #RB15000093
(574) 742-4531
Added: Mar 26
Changed: Aug 19
Last Checked: Aug 23 at 8:06PM
MLS# 202610135
Copyright © 2026 Kosciusko Board of Realtors MLS. 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.
Duplex built in 1918 featuring laminate flooring and an asphalt roof. The main level unit has one bedroom and one bathroom, with tenants having used it as a two-bedroom in the past. Recent updates include all new flooring, a brand new tub and surround, and a new exterior door, plus a covered front porch. In-unit laundry is available for the main level unit.
The upstairs unit includes two bedrooms and one bathroom and also offers in-unit laundry. Utilities are separately metered for gas, electric, and water with tenant-paid utilities. Two newer HVAC systems and newer water heaters are included, and the roof is described as only a few years old. The owner covers the sewer and trash bill.
Set on a 0.09-acre lot with 1,278 square feet of property size, this duplex is positioned for straightforward operations with tenant-paid utilities and maintained key mechanicals.
The upstairs unit includes two bedrooms and one bathroom and also offers in-unit laundry. Utilities are separately metered for gas, electric, and water with tenant-paid utilities. Two newer HVAC systems and newer water heaters are included, and the roof is described as only a few years old. The owner covers the sewer and trash bill.
Set on a 0.09-acre lot with 1,278 square feet of property size, this duplex is positioned for straightforward operations with tenant-paid utilities and maintained key mechanicals.
Key Highlights
- 0.09‑acre lot and 1,278 SF duplex property
- Built in 1918 with asphalt roof
- In‑unit laundry available for both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,822
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,440
$216.4K
Cap Rate 7%
$154,600
$154.6K
Cap Rate 9%
$120,244
$120.2K
Market Conditions
NOI Build-Up for 1,278 SF
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.
Gross rent
$16.1K $12.60/SF
− Vacancy
−$643 −$0.50/SF
EGI
$15.5K $12.10/SF
− OpEx
−$4.6K −$3.63/SF
NOI
$10.8K $8.47/SF
Area
Kosciusko County, IN
Vacancy
3.99%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,440
Cap Rate 7%
$154,600
Cap Rate 9%
$120,244
Alternative Uses
Best Use
Multifamily LT 5
$154.6K
$135.3K – $180.4K
NOI $10,822 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$138.5K
$121.2K – $161.6K
NOI $9,697 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$222.6K
$194.8K – $259.8K
NOI $15,585 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Explore this area
Business Placement
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering in-unit laundry for both units and separately metered gas, electric, and water.
Where is this duplex located?
The property is located at 605 N Huntington Street Syracuse, IN.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 0.09‑acre lot and 1,278 SF duplex property; Built in 1918 with asphalt roof; In‑unit laundry available for both units
