Renovated Duplex with
For Sale
$239,900
1012 Chippewa Ln, Kokomo, IN 46902
Two separate units feature updated kitchens, refreshed interiors, and dedicated living areas.
Property Size2,136 SF
Price / SF$112.31
Days on Market55
Property Features for 1012 Chippewa Ln
General Information
Standard status
Active
Size
2,136 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1966
Buildings
1
Listing Agency:
The Hardie Group
Listed By:
Gina Key · License #RB14036043
(765) 457-7214
Source:
Callcriswell
Added: Aug 23
Changed: Oct 10
Last Checked: Oct 7 at 4:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Hardie Group
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Investment Insights
Based on property information with market context.
Located at 1012 Chippewa Ln in Kokomo, this 2,136 SF duplex contains two distinct residential units. The main-level residence offers 3 bedrooms, 1 full bath, a living room, and an updated kitchen. Upstairs, the second unit includes 2 bedrooms, 1 full bath, a family/living room, and its own updated kitchen.
Recent improvements include two new HVAC systems, a metal roof, asphalt driveway, new flooring, modern fixtures, fresh paint, white cabinetry, and new countertops. The property also includes a large 2-car garage with additional workshop space. Built in 1966, the duplex provides two separate living areas within a substantially renovated residential income property.
Recent improvements include two new HVAC systems, a metal roof, asphalt driveway, new flooring, modern fixtures, fresh paint, white cabinetry, and new countertops. The property also includes a large 2-car garage with additional workshop space. Built in 1966, the duplex provides two separate living areas within a substantially renovated residential income property.
Key Highlights
- 2,136 SF duplex at 1012 Chippewa Ln, Kokomo, IN 46902
- Main‑level unit includes 3 bedrooms and 1 full bath
- Upper‑level unit includes 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,196
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,920
$383.9K
Cap Rate 7%
$274,229
$274.2K
Cap Rate 9%
$213,289
$213.3K
Market Conditions
NOI Build-Up for 2,136 SF
Gross rent
$29.0K $13.56/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$27.4K $12.84/SF
− OpEx
−$8.2K −$3.85/SF
NOI
$19.2K $8.99/SF
Area
Howard County, IN
Vacancy
5.32%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,920
Cap Rate 7%
$274,229
Cap Rate 9%
$213,289
Alternative Uses
Best Use
Multifamily LT 5
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.0K
NOI $17,700 @ 7.0% cap · market cap 7.38%
Theoretical Best
Warehouse
$1.68M
$1.47M – $1.96M
NOI $117,747 @ 7.0% cap · market cap 49.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
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Business Placement
Demographics for 46902, IN
36,038
Population
18,004
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
50.7 sq mi
ZIP Area
711
Density / Sq Mi
$59,548
Median Household Income
$36,902
Median Earnings
$929
Median Rent
$154,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units feature updated kitchens, refreshed interiors, and dedicated living areas.
Where is this duplex located?
The property is located at 1012 Chippewa Ln Kokomo, IN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 2,136 SF duplex at 1012 Chippewa Ln, Kokomo, IN 46902; Main‑level unit includes 3 bedrooms and 1 full bath; Upper‑level unit includes 2 bedrooms and 1 full bath
