Triplex with Rear Storage
For Sale
$249,900
3306 3308 Mishawaka Ave, South Bend, IN 46615
All three units are leased, with a two-bedroom layout alongside two one-bedroom residences.
Property Size2,064 SF
Price / SF$121.08
Days on Market55
Property Features for 3306 3308 Mishawaka Ave
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Amenities
hardwood floors
back yard
garage storage
Building Details
Year Built
1912
Buildings
1
Tenancy
Multi
Listing Agency:
Tiffany Group Real Estate Advisors LLC
Listed By:
Tyler Glenn · License #RB17002052
(574) 286-7333
Source:
Callcriswell
Added: Aug 22
Changed: Oct 11
Last Checked: Oct 7 at 2:45PM
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 Tiffany Group Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
This 1912 triplex contains 2,064 square feet across three residential units: two one-bedroom, one-bath residences and one two-bedroom, one-bath unit. Hardwood flooring adds a durable interior feature, while a rear garage provides storage space. The property also includes a backyard.
Located at 3306 3308 Mishawaka Avenue in South Bend’s River Park neighborhood, the building has all 3 of 3 units leased. Residents pay their own electric service, while the owner covers water and trash expenses, providing a clearly defined utility arrangement for the property.
Located at 3306 3308 Mishawaka Avenue in South Bend’s River Park neighborhood, the building has all 3 of 3 units leased. Residents pay their own electric service, while the owner covers water and trash expenses, providing a clearly defined utility arrangement for the property.
Key Highlights
- Three‑unit configuration with two 1 bed/1 bath units and one 2 bed/1 bath unit
- 2,064 square feet of residential building area
- All 3 of 3 units are leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,383
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,660
$367.7K
Cap Rate 7%
$262,614
$262.6K
Cap Rate 9%
$204,256
$204.3K
Market Conditions
NOI Build-Up for 2,064 SF
Gross rent
$28.5K $13.80/SF
− Vacancy
−$2.2K −$1.08/SF
EGI
$26.3K $12.72/SF
− OpEx
−$7.9K −$3.82/SF
NOI
$18.4K $8.91/SF
Area
South Bend, IN
Vacancy
7.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,660
Cap Rate 7%
$262,614
Cap Rate 9%
$204,256
Alternative Uses
Best Use
Multifamily LT 5
$262.6K
$229.8K – $306.4K
NOI $18,383 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,011 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$522.2K
$456.9K – $609.2K
NOI $36,552 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 46615, IN
14,777
Population
7,234
Households
2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
4,478
Density / Sq Mi
$57,983
Median Household Income
$39,744
Median Earnings
$971
Median Rent
$127,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - All three units are leased, with a two-bedroom layout alongside two one-bedroom residences.
Where is this triplex located?
The property is located at 3306 3308 Mishawaka Ave South Bend, IN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three‑unit configuration with two 1 bed/1 bath units and one 2 bed/1 bath unit; 2,064 square feet of residential building area; All 3 of 3 units are leased
