Updated Duplex with Separate
1406 North Philips Street Kokomo, IN 46901
For Sale
$169,500
Well-maintained duplex with two updated units, each with its own entrance and separate utilities.
Property Size1,200 SF
Price / SF$141.25
Days on Market599
Property Features for 1406 North Philips Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1970
Listing Agency:
Trueblood Real Estate
(765) 543-1973
Listed By:
Karina Hernandez · License #RB21001918
(765) 543-1973
Source:
Compass
Added: Dec 1, 2024
Changed: Jul 23
Last Checked: Jul 23 at 4:29AM
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 Trueblood Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two residential units with separate entrances. The front unit offers 2 bedrooms and 1 bathroom, and the rear unit offers 1 bedroom and 1 bathroom.
Recent improvements include central air added to both units, new flooring in the back unit, and updated plumbing in the front unit. Each unit has its own utilities and a functional layout.
As an income-producing setup with independent access, the property can support either an owner-occupant arrangement or rental use for both units.
Recent improvements include central air added to both units, new flooring in the back unit, and updated plumbing in the front unit. Each unit has its own utilities and a functional layout.
As an income-producing setup with independent access, the property can support either an owner-occupant arrangement or rental use for both units.
Key Highlights
- Duplex with two units: front 2BD/1BA and rear 1BD/1BA (3 total bedrooms, 2 total baths)
- Central air added to both units
- Each unit has its own entrance and separate utilities
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.3k | $13.56 |
| − Vacancy | −$866 | −$0.72 |
| EGI | $15.4k | $12.84 |
| − OpEx | −$4.6k | −$3.85 |
| NOI | $10.8k | $8.99 |
1,200 SF · lease $13.56/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$154.1K
$134.8K – $179.7K
NOI $10,784 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$142.1K
$124.3K – $165.7K
NOI $9,944 @ 7.0% cap · market cap 5.87%
Theoretical Best
Warehouse
$945.0K
$826.9K – $1.10M
NOI $66,150 @ 7.0% cap · market cap 39.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained duplex with two updated units, each with its own entrance and separate utilities.
Where is this duplex located?
The property is located at 1406 North Philips Street Kokomo, IN.
What is the asking price?
The asking price for this property is $169,500.
What are key features of this property?
This property features: Duplex with two units: front 2BD/1BA and rear 1BD/1BA (3 total bedrooms, 2 total baths); Central air added to both units; Each unit has its own entrance and separate utilities
