Two-Unit Duplex with Lake
New
For Sale
$179,000
2316 S Lake Sharon Road, Warsaw, IN 46580
INVESTMENT, One Story, Warsaw, IN
Property Size2,104 SF
Lot Size0.51 Acres
Price / SF$85.08
Days on Market2
Property Features for 2316 S Lake Sharon Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4
Parking
4
Parking features
Off Street
Basement
Block
Lot features
City/ Town/ Suburb, Irregular, Level, Water View
Elementary school
Eisenhower
Middle school
Edgewood
High school
Warsaw
Elementary school district
Warsaw Community
Middle school district
Warsaw Community
High school district
Warsaw Community
Directions
See google maps
Subdivision
Kosciusko County
Standard status
Active
APN
43-11-26-100-065.000-031
Size
2,104 SF
Lot size
0.51 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
3-125-33.Ka Pt W 1/2 Ne 26-32-6 .51A
Tax Annual Amount
1582
Legal Description
3-125-33.Ka Pt W 1/2 Ne 26-32-6 .51A
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Flooring type
Carpet
Roof type
Shingle
Architectural style
Other
Buildings
1
Listing Agency:
Patton Hall Real Estate
(574) 267-7501
Listed By:
Savannah Beer · License #RB17000939
(219) 682-8348
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 12:06PM
MLS# 202645709
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This one-story duplex contains 2,104 square feet on a 0.51-acre lot. Its two separate residences each have two bedrooms and one full bathroom. The building was originally a single-family home and is now configured as two units. Both are occupied by long-term tenants on month-to-month leases. Carpet flooring, off-street parking, and a shingle roof are among the property’s features.
Lake Sharon views add a water-facing element to the setting. The Village at Winona, Grace College, and the Winona Heritage trails are each within four miles.
Lake Sharon views add a water-facing element to the setting. The Village at Winona, Grace College, and the Winona Heritage trails are each within four miles.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 2,104‑square‑foot building on a 0.51‑acre lot
- One‑story duplex originally built as a single‑family home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,964
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,280
$319.3K
Cap Rate 7%
$228,057
$228.1K
Cap Rate 9%
$177,378
$177.4K
Market Conditions
NOI Build-Up for 2,104 SF
Gross rent
$30.3K $14.40/SF
− Vacancy
−$1.3K −$0.60/SF
EGI
$29.0K $13.80/SF
− OpEx
−$13.1K −$6.21/SF
NOI
$16.0K $7.59/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,280
Cap Rate 7%
$228,057
Cap Rate 9%
$177,378
Alternative Uses
Best Use
Multifamily LT 5
$254.5K
$222.7K – $297.0K
NOI $17,817 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$228.1K
$199.6K – $266.1K
NOI $15,964 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$366.5K
$320.7K – $427.6K
NOI $25,658 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 46580, IN
22,381
Population
8,873
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
71.1 sq mi
ZIP Area
315
Density / Sq Mi
$70,978
Median Household Income
$40,231
Median Earnings
$963
Median Rent
$175,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied under month-to-month leases, providing flexibility for future plans.
Where is this duplex located?
The property is located at 2316 S Lake Sharon Road Warsaw, IN.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 2,104‑square‑foot building on a 0.51‑acre lot; One‑story duplex originally built as a single‑family home
