Building Details

Buildings 1

Stories 2

Listing Agency: eXp Realty, LLC i***@exprealty.net

Listed By: Geoff Cavender Show Phone

Source: Exprealty

Added: Oct 8 Changed: Oct 12 Last Checked: Oct 11 at 8:03AM

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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 eXp Realty, LLC

Investment Insights

Based on property information with market context.

This two-story duplex contains two residential units, with a full renovation completed in the upper apartment. A basement is also part of the building, and the property includes a yard. The structure dates to 1900 and has a rental history.

Located at 108 N Washington Street in Pierceton, Indiana, the property is offered for sale.

Key Highlights

• Upper unit fully remodeled
• Two‑story duplex with two units
• Basement included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,319

Cap Rate

8.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$206,380 $206.4K

Cap Rate 7%

$147,414 $147.4K

Cap Rate 9%

$114,656 $114.7K

Market Conditions

NOI Build-Up for 1,360 SF

Gross rent

$19.6K $14.40/SF

− Vacancy

−$823 −$0.60/SF

EGI

$18.8K $13.80/SF

− OpEx

−$8.4K −$6.21/SF

NOI

$10.3K $7.59/SF

Area

Kosciusko County, IN

Vacancy

4.20%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$206,380

Cap Rate 7%

$147,414

Cap Rate 9%

$114,656

Alternative Uses

Best Use

Multifamily LT 5

$164.5K

$144.0K – $192.0K (±1% cap)

NOI $11,517 @ 7.0% cap · market cap 10.01%

Second Best

Apartment 5plus

$147.4K

$129.0K – $172.0K (±1% cap)

NOI $10,319 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$236.9K

$207.3K – $276.4K (±1% cap)

NOI $16,585 @ 7.0% cap · market cap 14.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Big Box & Wholesale Store Storage Facility (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

177

Businesses Nearby

Explore this area Business Placement

Demographics for 46562, IN

4,718

Population

2,593

Households

1.8

Avg Household Size

42

Median Age

14%

College-Educated

85%

High-School Grad

60.3 sq mi

ZIP Area

78

Density / Sq Mi

$61,599

Median Household Income

$39,271

Median Earnings

$795

Median Rent

$185,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - The upper apartment has been renovated, and the building includes a basement.

Where is this duplex located?

The property is located at 108 N Washington St Pierceton, IN.

What is the asking price?

The asking price for this property is $115,000.

What are key features of this property?

This property features: Upper unit fully remodeled; Two‑story duplex with two units; Basement included