Two-Unit Duplex with Rear
New
For Sale
$189,900
209 E 6th Street, Mishawaka, IN 46544
Separate upstairs and main-level apartments each provide two bedrooms and a full bathroom.
Property Size1,548 SF
Price / SF$122.67
Days on Market5
Property Features for 209 E 6th Street
General Information
Standard status
Active
Size
1,548 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered front porch
rear deck
fenced backyard
full basement
Building Details
Year Built
1900
Buildings
1
Listing Agency:
The Wyman Group
(765) 419-1021
Listed By:
Patton Hall
(574) 267-7501
Source:
Pattonhall
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 6:08PM
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 The Wyman Group
Investment Insights
Based on property information with market context.
This 1,548-square-foot duplex contains two two-bedroom, one-bathroom apartments. The main-level unit has a living room, dining area, and kitchen with appliances; the upper unit includes its own living room. Improvements include a new roof and gutters, refreshed interior and exterior paint, updated flooring, kitchens, bathrooms, plumbing, and select doors and windows. The property was built in 1900 and also offers a covered front porch, rear deck, fenced backyard, and full basement for storage.
The home is near shopping, dining, schools, parks, and major roadways.
The home is near shopping, dining, schools, parks, and major roadways.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- 1,548 square feet; built in 1900
- Updated kitchens with appliances, bathrooms, flooring, and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,636
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,720
$272.7K
Cap Rate 7%
$194,800
$194.8K
Cap Rate 9%
$151,511
$151.5K
Market Conditions
NOI Build-Up for 1,548 SF
Gross rent
$20.8K $13.44/SF
− Vacancy
−$1.3K −$0.86/SF
EGI
$19.5K $12.58/SF
− OpEx
−$5.8K −$3.78/SF
NOI
$13.6K $8.81/SF
Area
St. Joseph County, IN
Vacancy
6.37%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,720
Cap Rate 7%
$194,800
Cap Rate 9%
$151,511
Alternative Uses
Best Use
Multifamily LT 5
$194.8K
$170.5K – $227.3K
NOI $13,636 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$168.9K
$147.8K – $197.0K
NOI $11,820 @ 7.0% cap · market cap 6.22%
Theoretical Best
Retail
$307.0K
$268.6K – $358.1K
NOI $21,488 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 46544, IN
31,571
Population
13,661
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
39.8 sq mi
ZIP Area
793
Density / Sq Mi
$57,873
Median Household Income
$40,120
Median Earnings
$1,018
Median Rent
$151,100
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 - Separate upstairs and main-level apartments each provide two bedrooms and a full bathroom.
Where is this duplex located?
The property is located at 209 E 6th Street Mishawaka, IN.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; 1,548 square feet; built in 1900; Updated kitchens with appliances, bathrooms, flooring, and plumbing
