316 S Washington Street Warsaw, IN 46580
MULTI_FAMILY - Warsaw, IN
Property Features for 316 S Washington Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bedroom 1, Basement, Bedroom 2, Bathroom 6, Bathroom 1, Bathroom 2, Bathroom 5
- Parking
- 6
- Standard status
- Active
- APN
- 43-11-08-300-247.000-032
- Size
- 2,836 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- 4-43-125 LOT 339 HOOD & BRITTON ADD AKA CITY OF WARSAW
- Tax Annual Amount
- 3080
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1873
- Floors in Building
- 2
- Number of units
- 6
- Flooring type
- Carpet, Vinyl
- Architectural style
- Other
Listing agent James Bausch License #RB15000093 (574) 742-4531
Listing office RE/MAX Results 358 Enterprise Drive, Warsaw, IN (574) 269-6911
Listing date May 25, 2026
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.
Investment Insights
Based on property information with market context.
The property is located at 316 S Washington Street in Warsaw, Indiana, in Kosciusko County. Public remarks note convenience to Downtown Warsaw and nearby shopping, restaurants, parks, and other local amenities, offering tenants access to everyday necessities within the area.
For investors or operators seeking a smaller, low-maintenance brick asset, this building’s recent interior updates and exterior roof replacement are already in place, potentially reducing near-term capital concerns. In the listing materials, the property is described as having an attractive 12.94% CAP rate. The unit mix of predominantly 1-bedroom apartments plus an efficiency unit can also fit a range of tenant household needs for long-term rental occupancy.
Key Highlights
- 6‑unit brick investment property
- Built in 1873
- Recent updates completed over the last 18 months, including new roof and updated paint
Local Financial Insights For Apartment 5plus
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 | $40.8k | $14.40 |
| − Vacancy | −$1.7k | −$0.60 |
| EGI | $39.1k | $13.80 |
| − OpEx | −$17.6k | −$6.21 |
| NOI | $21.5k | $7.59 |
