Four-Unit Multifamily
For Sale
$289,900
1101 Fulton St, Elkhart, IN 46514
Includes economy units alongside one-bedroom and two-bedroom layouts, with two units occupied and two currently vacant.
Property Size2,352 SF
Price / SF$123.26
Days on Market48
Property Features for 1101 Fulton St
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1904
Listing Agency:
Berkshire Hathaway HomeServices Elkhart
Listed By:
Verlin Miller · License #RB14045672
(574) 536-6496
Source:
Spencerchildersgroup
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 7 at 5:13PM
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 Berkshire Hathaway HomeServices Elkhart
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Investment Insights
Based on property information with market context.
This 2,352-square-foot multifamily property at 1101 Fulton St in Elkhart, IN contains four residential units. The configuration includes two economy units, one one-bedroom unit, and one two-bedroom unit. Unit A and Unit C are occupied, while Unit B and Unit D are vacant.
The owner currently covers utilities and maintenance for the property. The unit mix and existing occupancy provide a clear overview of the current operating setup for an investor evaluating a small residential income property.
The owner currently covers utilities and maintenance for the property. The unit mix and existing occupancy provide a clear overview of the current operating setup for an investor evaluating a small residential income property.
Key Highlights
- Four residential units totaling 2,352 square feet
- Unit mix includes two economy units, one 1‑bedroom unit, and one 2‑bedroom unit
- Units A and C are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,554
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,080
$391.1K
Cap Rate 7%
$279,343
$279.3K
Cap Rate 9%
$217,267
$217.3K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$30.2K $12.84/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$27.9K $11.88/SF
− OpEx
−$8.4K −$3.56/SF
NOI
$19.6K $8.31/SF
Area
Elkhart County, IN
Vacancy
7.50%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,080
Cap Rate 7%
$279,343
Cap Rate 9%
$217,267
Alternative Uses
Best Use
Multifamily LT 5
$279.3K
$244.4K – $325.9K
NOI $19,554 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$249.2K
$218.0K – $290.7K
NOI $17,442 @ 7.0% cap · market cap 6.02%
Theoretical Best
Specialty Retail
$435.5K
$381.0K – $508.0K
NOI $30,482 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
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Business Placement
Demographics for 46514, IN
42,048
Population
17,987
Households
2.3
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,784
Median Household Income
$40,909
Median Earnings
$1,084
Median Rent
$170,900
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
Frequently Asked Questions
What type of property is this?
Quadplex - Includes economy units alongside one-bedroom and two-bedroom layouts, with two units occupied and two currently vacant.
Where is this quadplex located?
The property is located at 1101 Fulton St Elkhart, IN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Four residential units totaling 2,352 square feet; Unit mix includes two economy units, one 1‑bedroom unit, and one 2‑bedroom unit; Units A and C are currently rented
