Two-Unit Duplex with In-Law
For Sale
$219,900
1101 Elliott St, South Bend, IN 46628
Legally approved duplex with a three-bedroom main residence and separate one-bedroom suite.
Property Size2,041 SF
Price / SF$107.74
Days on Market64
Property Features for 1101 Elliott St
General Information
Standard status
Active
Size
2,041 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1959
Listing Agency:
List With Freedom.com LLC
Listed By:
Joseph Wootan · License #BRO-99919
(855) 456-4945
Source:
Spencerchildersgroup
Added: Aug 12
Changed: Oct 8
Last Checked: Oct 7 at 2:31PM
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 List With Freedom.com LLC
Investment Insights
Based on property information with market context.
This legally approved duplex contains 2,041 square feet across two distinct living areas. The primary unit includes three bedrooms, 1.5 bathrooms, a full kitchen, and a large living room, with direct access to the yard and parking. The second unit is a one-bedroom, one-bathroom in-law suite with its own entrance and kitchenette setup.
Located at 1101 Elliott St in South Bend, Indiana, the property offers a defined two-unit configuration with separate access between residences. The layout supports flexible occupancy arrangements while maintaining distinct living spaces for each unit.
Located at 1101 Elliott St in South Bend, Indiana, the property offers a defined two-unit configuration with separate access between residences. The layout supports flexible occupancy arrangements while maintaining distinct living spaces for each unit.
Key Highlights
- Legally approved two‑unit dwelling
- 2,041 square feet with two separate living areas
- Main unit has 3 bedrooms, 1.5 bathrooms, and a full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,178
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,560
$363.6K
Cap Rate 7%
$259,686
$259.7K
Cap Rate 9%
$201,978
$202.0K
Market Conditions
NOI Build-Up for 2,041 SF
Gross rent
$28.2K $13.80/SF
− Vacancy
−$2.2K −$1.08/SF
EGI
$26.0K $12.72/SF
− OpEx
−$7.8K −$3.82/SF
NOI
$18.2K $8.91/SF
Area
South Bend, IN
Vacancy
7.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,560
Cap Rate 7%
$259,686
Cap Rate 9%
$201,978
Alternative Uses
Best Use
Multifamily LT 5
$259.7K
$227.2K – $303.0K
NOI $18,178 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$240.3K
$210.3K – $280.4K
NOI $16,821 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$516.3K
$451.8K – $602.4K
NOI $36,144 @ 7.0% cap · market cap 16.44%
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
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 46628, IN
27,011
Population
12,266
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
92%
High-School Grad
34.2 sq mi
ZIP Area
790
Density / Sq Mi
$56,889
Median Household Income
$37,423
Median Earnings
$1,068
Median Rent
$164,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Legally approved duplex with a three-bedroom main residence and separate one-bedroom suite.
Where is this duplex located?
The property is located at 1101 Elliott St South Bend, IN.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Legally approved two‑unit dwelling; 2,041 square feet with two separate living areas; Main unit has 3 bedrooms, 1.5 bathrooms, and a full kitchen
