Downtown Duplex Income
303 West Main Street Syracuse, IN 46567
303 West Main Street, Syracuse, IN, 46567
$225,000
For Sale
$225,000
Duplex with 4 bedrooms and 2.5 bathrooms on a corner lot, with long-term tenants in place.
Property Size1,800 SF
Price / SF$125
Days on Market53
Property Features for 303 West Main Street
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1867
Listing agency
Listing Leaders, NCI-Culver
(574) 842-3000
Listed by
Mckenzie Click
(574) 842-3000
Source
Compass
Added: May 31 Updated: Jul 22 at 6:13PM Checked: Jul 22 at 6:13PM
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 offers a total of 4 bedrooms and 2.5 bathrooms. The property is currently occupied by long-term tenants, providing immediate rental income for a buyer.
Set on a spacious corner lot in downtown Syracuse, the location supports convenient access to local shops, restaurants, parks, and other downtown amenities.
The configuration and tenant occupancy make this a straightforward residential income opportunity for investors seeking an occupied duplex on a corner lot.
Set on a spacious corner lot in downtown Syracuse, the location supports convenient access to local shops, restaurants, parks, and other downtown amenities.
The configuration and tenant occupancy make this a straightforward residential income opportunity for investors seeking an occupied duplex on a corner lot.
Key Highlights
- Duplex in downtown Syracuse with 4 bedrooms and 2.5 total baths
- Long‑term tenants already in place
- 2‑story home with a full basement
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 | $22.7k | $12.60 |
| − Vacancy | −$905 | −$0.50 |
| EGI | $21.8k | $12.10 |
| − OpEx | −$6.5k | −$3.63 |
| NOI | $15.2k | $8.47 |
1,800 SF · lease $12.60/SF/yr · vacancy 3.99% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with 4 bedrooms and 2.5 bathrooms on a corner lot, with long-term tenants in place.
Where is this duplex located?
The property is located at 303 West Main Street 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 in downtown Syracuse with 4 bedrooms and 2.5 total baths; Long‑term tenants already in place; 2‑story home with a full basement
