Two-Story Duplex with Separate
110 E Chestnut Street, New Carlisle, IN 46552
For Sale
$214,900
Both apartments have three bedrooms, and the east unit includes a laundry hookup.
Property Size2,356 SF
Price / SF$91.21
Days on Market11
Property Features for 110 E Chestnut Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Building Details
Year Built
Year Renovated
Buildings
Stories
Listing Agency:
Exp Realty, LLC
(260) 498-0384
Listed By:
Patton Hall
(574) 267-7501
Source:
Pattonhall
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 5:26AM
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
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Investment Insights
Based on property information with market context.
This two-story duplex contains 2,356 square feet across two apartments, each measuring 1,178 square feet. Both units have three bedrooms, one bathroom, and a formal dining room. The building dates to 1900, and both apartments were remodeled in 2018. Separate gas and town utility meters serve the units, which also have two furnaces and two water heaters. A laundry hookup is present in the east apartment.
The property is on E Chestnut Street in New Carlisle, with parks, a school, and a library a few blocks away. Both apartments are occupied under month-to-month leases, and the property is being sold as-is.
The property is on E Chestnut Street in New Carlisle, with parks, a school, and a library a few blocks away. Both apartments are occupied under month-to-month leases, and the property is being sold as-is.
Key Highlights
- Two apartments, each with 1,178 square feet
- Both units offer three bedrooms, one bathroom, and a formal dining room
- Remodeled in 2018; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,990
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,800
$359.8K
Cap Rate 7%
$257,000
$257.0K
Cap Rate 9%
$199,889
$199.9K
Market Conditions
NOI Build-Up for 2,356 SF
Gross rent
$35.1K $14.88/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$32.7K $13.88/SF
− OpEx
−$14.7K −$6.25/SF
NOI
$18.0K $7.64/SF
Area
St. Joseph County, IN
Vacancy
6.70%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,800
Cap Rate 7%
$257,000
Cap Rate 9%
$199,889
Alternative Uses
Best Use
Multifamily LT 5
$296.5K
$259.4K – $345.9K
NOI $20,753 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$257.0K
$224.9K – $299.8K
NOI $17,990 @ 7.0% cap · market cap 8.37%
Theoretical Best
Retail
$467.2K
$408.8K – $545.1K
NOI $32,703 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
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Business Placement
Demographics for 46552, IN
6,478
Population
2,981
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
94%
High-School Grad
63.9 sq mi
ZIP Area
101
Density / Sq Mi
$79,464
Median Household Income
$53,849
Median Earnings
$811
Median Rent
$211,500
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 - Both apartments have three bedrooms, and the east unit includes a laundry hookup.
Where is this duplex located?
The property is located at 110 E Chestnut Street New Carlisle, IN.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Two apartments, each with 1,178 square feet; Both units offer three bedrooms, one bathroom, and a formal dining room; Remodeled in 2018; built in 1900
