Updated Duplex with Two
For Sale
$209,900
Pending
1106 Portage Ave, South Bend, IN 46616
Each residence offers two bedrooms and one bathroom, with major systems updated in 2025.
Property Size1,732 SF
Days on Market32
Property Features for 1106 Portage Ave
General Information
Standard status
Pending
Size
1,732 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,922
Building Details
Year Renovated
2025
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Ashley Hairston
(574) 383-4027
Source:
Exprealty
Added: Sep 17
Changed: Oct 2
Last Checked: Oct 16 at 1:12PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This duplex at 1106 Portage Ave includes two residential units, each configured with 2 bedrooms and 1 bathroom. The property measures 1,732 square feet and received several major improvements in 2025, including a new furnace, roof, windows, plumbing, and electrical systems.
The two-unit configuration provides a straightforward multifamily layout at a South Bend address. Recent work spans key building systems and exterior components, including heating, roofing, windows, plumbing, and electrical service.
The two-unit configuration provides a straightforward multifamily layout at a South Bend address. Recent work spans key building systems and exterior components, including heating, roofing, windows, plumbing, and electrical service.
Key Highlights
- Two‑unit duplex configuration
- Each unit includes 2 bedrooms and 1 bathroom
- 1,732 square feet of total property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,426
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,520
$308.5K
Cap Rate 7%
$220,371
$220.4K
Cap Rate 9%
$171,400
$171.4K
Market Conditions
NOI Build-Up for 1,732 SF
Gross rent
$23.9K $13.80/SF
− Vacancy
−$1.9K −$1.08/SF
EGI
$22.0K $12.72/SF
− OpEx
−$6.6K −$3.82/SF
NOI
$15.4K $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%
$308,520
Cap Rate 7%
$220,371
Cap Rate 9%
$171,400
Alternative Uses
Best Use
Multifamily LT 5
$220.4K
$192.8K – $257.1K
NOI $15,426 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$203.9K
$178.4K – $237.9K
NOI $14,275 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$438.2K
$383.4K – $511.2K
NOI $30,672 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 46616, IN
6,167
Population
2,824
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
4,405
Density / Sq Mi
$56,293
Median Household Income
$35,232
Median Earnings
$1,019
Median Rent
$136,400
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?
Duplex - Each residence offers two bedrooms and one bathroom, with major systems updated in 2025.
Where is this duplex located?
The property is located at 1106 Portage Ave South Bend, IN.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit duplex configuration; Each unit includes 2 bedrooms and 1 bathroom; 1,732 square feet of total property size
