Duplex with Split Electric
New
For Sale
$99,900
323 E Simonton Street, Elkhart, IN 46514
MULTI_FAMILY - Elkhart, IN
Property Size1,088 SF
Lot Size0.18 Acres
Price / SF$91.82
Days on Market4
Property Features for 323 E Simonton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking
2
Lot features
0-2.9999
Elementary school
Woodland
Middle school
North Side
High school
Elkhart
Elementary school district
Elkhart Community Schools
Middle school district
Elkhart Community Schools
High school district
Elkhart Community Schools
Directions
Somewhere in the middle of Simonton St.
Subdivision
Elkhart County
Standard status
Active
APN
20-02-32-456-003.000-027
Size
1,088 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
31FT 3IN X8RDS-227 1/2FT W OF CAS SO SIDE SIMONTON ST SEC 32 .15, 31 1/4FT X8RDS SW SW ONSIMONTON ST SEC 32 .15
Tax Annual Amount
1
Legal Description
31FT 3IN X8RDS-227 1/2FT W OF CAS SO SIDE SIMONTON ST SEC 32 .15, 31 1/4FT X8RDS SW SW ONSIMONTON ST SEC 32 .15
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Architectural style
Other
Listing Agency:
Realty Group Resources
(574) 264-2000
Listed By:
Cory White · License #RB14028504
(574) 596-3598
Added: Jul 30
Changed: Aug 1
Last Checked: Aug 2 at 2:06PM
MLS# 202630747
Copyright © 2026 Elkhart County Board of Realtors. 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.
This duplex includes two separate units with a front/back configuration. The front unit has two bedrooms and one bathroom, while the back unit has one bedroom and one bathroom. The property also has split electric meters, providing separate electrical service for the units.
The duplex was built in 1900 and sits on a 0.18-acre lot. A bonus second parcel/side lot is included. The property is being sold as-is, where-is, and cash buyers must provide proof of funds.
Total building size is 1,088 square feet. The property is located at 323 E Simonton Street in Elkhart, Indiana 46514-3220 (Elkhart County).
The duplex was built in 1900 and sits on a 0.18-acre lot. A bonus second parcel/side lot is included. The property is being sold as-is, where-is, and cash buyers must provide proof of funds.
Total building size is 1,088 square feet. The property is located at 323 E Simonton Street in Elkhart, Indiana 46514-3220 (Elkhart County).
Key Highlights
- Front unit: two bedrooms and one bathroom
- Back unit: one bedroom and one bathroom
- Split electric meters for the two units
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 | $14.0k | $12.84 |
| − Vacancy | −$1.0k | −$0.96 |
| EGI | $12.9k | $11.88 |
| − OpEx | −$3.9k | −$3.56 |
| NOI | $9.0k | $8.31 |
1,088 SF · lease $12.84/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$129.2K
$113.1K – $150.8K
NOI $9,046 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$115.3K
$100.9K – $134.5K
NOI $8,068 @ 7.0% cap · market cap 8.08%
Theoretical Best
Specialty Retail
$201.4K
$176.3K – $235.0K
NOI $14,100 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex layout features a two-bedroom front and one-bedroom back unit, with split electric meters.
Where is this duplex located?
The property is located at 323 E Simonton Street Elkhart, IN.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Front unit: two bedrooms and one bathroom; Back unit: one bedroom and one bathroom; Split electric meters for the two units
