Tenant-Occupied
For Sale
$225,000
303 W Main St, Syracuse, IN 46567
Four bedrooms and two-and-a-half bathrooms support an established residential rental setup in downtown Syracuse.
Property Size1,800 SF
Price / SF$125
Days on Market69
Property Features for 303 W Main St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1867
Listing Agency:
Listing Leaders, NCI-Culver
Listed By:
Mckenzie Click
(574) 842-4663
Source:
Kmsrealestategroup
Added: Aug 6
Changed: Oct 12
Last Checked: Oct 7 at 4:19PM
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 duplex contains four bedrooms and two-and-a-half bathrooms, with long-term tenants currently in place. The property was built in 1867 and sits on a corner lot, offering a residential configuration suited to income-producing use.
Located in downtown Syracuse at 303 W Main St, the property is near local shops, restaurants, and parks. Its central setting provides convenient access to nearby downtown amenities while preserving the established character of an older residential building.
Located in downtown Syracuse at 303 W Main St, the property is near local shops, restaurants, and parks. Its central setting provides convenient access to nearby downtown amenities while preserving the established character of an older residential building.
Key Highlights
- Duplex with 4 bedrooms and 2.5 bathrooms
- Long‑term tenants already occupy the property
- Corner‑lot setting in downtown Syracuse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,243
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,860
$304.9K
Cap Rate 7%
$217,757
$217.8K
Cap Rate 9%
$169,367
$169.4K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$22.7K $12.60/SF
− Vacancy
−$905 −$0.50/SF
EGI
$21.8K $12.10/SF
− OpEx
−$6.5K −$3.63/SF
NOI
$15.2K $8.47/SF
Area
Kosciusko County, IN
Vacancy
3.99%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,860
Cap Rate 7%
$217,757
Cap Rate 9%
$169,367
Alternative Uses
Best Use
Multifamily LT 5
$217.8K
$190.5K – $254.1K
NOI $15,243 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$195.1K
$170.7K – $227.6K
NOI $13,657 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$313.6K
$274.4K – $365.9K
NOI $21,951 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
Check the figures for this property
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 - Four bedrooms and two-and-a-half bathrooms support an established residential rental setup in downtown Syracuse.
Where is this duplex located?
The property is located at 303 W Main St Syracuse, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 2.5 bathrooms; Long‑term tenants already occupy the property; Corner‑lot setting in downtown Syracuse
