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    Syracuse Duplex Investment Opportunity Title is generated by Realmo AI

    605 N Huntington Street, Syracuse, IN 46567

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    For Sale
    $165,000

    Duplex - Syracuse, IN

    Type:Duplex
    Property size:
    1,278 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $129/SF
    Added:
    Mar 26, 2026
    Days on Market:
    54
    Last Refresh:
    May 18 at 12:06 am

    Property Features for 605 N Huntington Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Laundry
    EntryLevel
    Upper,Main
    Exterior features
    Basement, Washer Hook-up, None
    Basement Y/N
    1
    Appliances
    Dryer, Range
    Standard status
    Active
    APN
    43-04-06-200-336.000-026
    Size
    1,278 SF
    Lot size
    0.09 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Floors in Building
    2
    Number of units
    2
    Flooring type
    Laminate
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    James Bausch
    James Bausch

    Listing agent James Bausch License #RB15000093

    Listing office RE/MAX Results 358 Enterprise Drive, Warsaw, IN

    Listing date Mar 26, 2026

    MLS# 202610135 Listing URL

    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.

    HighLights

    • Prime location within walking distance to local shops and Syracuse Park & Beach.
    • Strong renter history with long‑term tenants in place.
    • Separately metered gas, electric, and water (tenant‑paid utilities).
    • Two newer HVAC systems and water heaters.
    • Recently updated flooring, tub/surround, and exterior door in the main level unit.
    • Roof is only a few years old.

    Overview

    This duplex presents an investment opportunity in Syracuse, Indiana, situated within walking distance of local shops and the Syracuse Park & Beach. The property features two units with a history of long-term tenants. The main level unit includes 1 bedroom and 1 bathroom, currently configured as a 2-bedroom setup. Recent updates to this unit include new flooring, a new tub and surround, and a new exterior door. This unit also features in-unit laundry and a covered front porch. The second unit, located upstairs, offers 2 bedrooms and 1 bathroom, and is equipped with in-unit laundry. The property is equipped with separately metered gas, electric, and water, with tenant-paid utilities. Both HVAC systems and water heaters are newer. The roof is a few years old. The owner covers the sewer and trash bill. The property size is 1278 square feet and the lot size is 0.09 acres. The property is located in Kosciusko County.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $120.2K
    NOI $10,822 @ 9.00% cap · cautious / downside scenario
    Moderate
    $154.6K
    NOI $10,822 @ 7.00% cap · market / base-case scenario
    Aggressive
    $216.4K
    NOI $10,822 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $16.1k $12.60
    − Vacancy −$643 −$0.50
    EGI $15.5k $12.10
    − OpEx −$4.6k −$3.63
    NOI $10.8k $8.47
    1,278 SF · lease $12.60/SF/yr · vacancy 3.99% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $154.6K
    $135.3K – $180.4K (±1% cap)
    NOI $10,822 @ 7.0% cap · market cap 6.56%
    Second Best
    Apartment 5plus
    $138.5K
    $121.2K – $161.6K (±1% cap)
    NOI $9,697 @ 7.0% cap · market cap 5.88%
    Theoretical Best
    Office A
    $222.6K
    $194.8K – $259.8K (±1% cap)
    NOI $15,585 @ 7.0% cap · market cap 9.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BrewCity Roasting Company Take-out & Catering Bed State Tracker Department Store Sundown Solutions (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.752072
    Latitude
    41.426699

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    FAQs

    What type of property is this?
    Duplex - Duplex near shops and park with long-term tenants.
    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 $165,000.
    What are key features of this property?
    This property features: Prime location within walking distance to local shops and Syracuse Park & Beach.; Strong renter history with long‑term tenants in place.; Separately metered gas, electric, and water (tenant‑paid utilities).
    (574) 742-4531
    We can help!
    Listing Contact
    James Bausch
    James Bausch
    Real Estate License ID: RB15000093
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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