Fully Rented
303 North Harrison Street Syracuse, IN 46567
303 North Harrison Street, Syracuse, IN, 46567
$325,000
For Sale
$325,000
All three units are currently leased, with updated appliances and recent exterior and water line improvements.
Property Size1,920 SF
Price / SF$169.27
Days on Market100
Property Features for 303 North Harrison Street
General Information
- Standard status
- Active
- Size
- 1,920 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1910
Listing agency
Listing Leaders, NCI-Culver
(574) 842-3000
Listed by
Mckenzie Click
(574) 842-3000
Source
Compass
Added: Apr 14 Updated: Jul 21 at 10:05PM Checked: Jul 21 at 10:05PM
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 Listing Leaders, NCI-Culver
Investment Insights
Based on property information with market context.
This well-maintained triplex is fully occupied with all three units currently rented. Unit 1 includes updated A/C, and all units have new refrigerators and stoves. Main water lines have been updated, and new exterior stairs provide access to Unit 3. Tenants in Units 1 and 2 own their washer/dryers, which are not included in the sale. Unit 3 includes seller-owned appliances that will convey.
The property is located just minutes from downtown Syracuse and the community center. Tenants are also using the garage as storage.
As presented, the building offers a straightforward three-unit residential income configuration with multiple recent improvements to help support day-to-day operations.
The property is located just minutes from downtown Syracuse and the community center. Tenants are also using the garage as storage.
As presented, the building offers a straightforward three-unit residential income configuration with multiple recent improvements to help support day-to-day operations.
Key Highlights
- Fully occupied triplex with all 3 units currently rented
- Unit 1 has updated central A/C; central air throughout per interior features
- All units include new refrigerators and stoves
Local 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 | $24.2k | $12.60 |
| − Vacancy | −$965 | −$0.50 |
| EGI | $23.2k | $12.10 |
| − OpEx | −$7.0k | −$3.63 |
| NOI | $16.3k | $8.47 |
1,920 SF · lease $12.60/SF/yr · vacancy 3.99% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$232.3K
$203.2K – $271.0K
NOI $16,259 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$208.1K
$182.1K – $242.8K
NOI $14,568 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$334.5K
$292.7K – $390.3K
NOI $23,415 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - All three units are currently leased, with updated appliances and recent exterior and water line improvements.
Where is this triplex located?
The property is located at 303 North Harrison Street Syracuse, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Fully occupied triplex with all 3 units currently rented; Unit 1 has updated central A/C; central air throughout per interior features; All units include new refrigerators and stoves
