Duplex With Side
323 E Simonton St, Elkhart, IN 46514
For Sale
$89,900
Two residences feature separate electric metering and distinct bedroom configurations in a two-unit property.
Property Size1,088 SF
Price / SF$82.63
Days on Market102
Property Features for 323 E Simonton St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Realty Group Resources
Listed By:
Cory White · License IN RB14028504
(574) 596-3598
Source:
Kmsrealestategroup
Added: Aug 5
Changed: Oct 25
Last Checked: Oct 7 at 5:46PM
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 Realty Group Resources
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Investment Insights
Based on property information with market context.
This duplex at 323 E Simonton St in Elkhart, Indiana, contains 1,088 square feet across two residences. The front unit has 2 bedrooms and 1 bathroom, while the rear unit provides 1 bedroom and 1 bathroom. Separate electric meters serve the units, supporting distinct utility tracking.
The sale includes a second parcel that functions as a side lot. The property is offered in its existing condition and location. Purchase requirements specify cash buyers with proof of funds.
The sale includes a second parcel that functions as a side lot. The property is offered in its existing condition and location. Purchase requirements specify cash buyers with proof of funds.
Key Highlights
- 1,088‑square‑foot duplex at 323 E Simonton St, Elkhart, IN
- Front unit includes 2 bedrooms and 1 bathroom
- Rear unit includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,068
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,360
$161.4K
Cap Rate 7%
$115,257
$115.3K
Cap Rate 9%
$89,644
$89.6K
Market Conditions
NOI Build-Up for 1,088 SF
Gross rent
$15.9K $14.64/SF
− Vacancy
−$1.3K −$1.16/SF
EGI
$14.7K $13.48/SF
− OpEx
−$6.6K −$6.07/SF
NOI
$8.1K $7.42/SF
Area
Elkhart County, IN
Vacancy
7.90%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,360
Cap Rate 7%
$115,257
Cap Rate 9%
$89,644
Alternative Uses
Best Use
Multifamily LT 5
$129.2K
$113.1K – $150.8K
NOI $9,046 @ 7.0% cap · market cap 10.06%
Second Best
Apartment 5plus
$115.3K
$100.9K – $134.5K
NOI $8,068 @ 7.0% cap · market cap 8.97%
Theoretical Best
Specialty Retail
$201.4K
$176.3K – $235.0K
NOI $14,100 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
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Business Placement
Demographics for 46514, IN
42,048
Population
17,987
Households
2.3
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,784
Median Household Income
$40,909
Median Earnings
$1,084
Median Rent
$170,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Elkhart County, IN
Properties on Market for Duplexes in Elkhart County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature separate electric metering and distinct bedroom configurations in a two-unit property.
Where is this duplex located?
The property is located at 323 E Simonton St Elkhart, IN.
What is the asking price?
The asking price for this property is $89,900.
What are key features of this property?
This property features: 1,088‑square‑foot duplex at 323 E Simonton St, Elkhart, IN; Front unit includes 2 bedrooms and 1 bathroom; Rear unit includes 1 bedroom and 1 bathroom
