Tenant-Occupied Duplex with
341 W 15th St, Auburn, IN 46706
For Sale
$139,995
Two leased apartments provide an established residential income configuration with separate utility responsibility for occupants.
Property Size1,572 SF
Price / SF$89.06
Days on Market53
Property Features for 341 W 15th St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
yard
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
The LT Group Real Estate
Listed By:
Atalie Honaker
(260) 609-2085
Source:
Spencerchildersgroup
Added: Sep 18
Changed: Oct 25
Last Checked: Oct 7 at 2:48PM
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 The LT Group Real Estate
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Investment Insights
Based on property information with market context.
This 1,572-square-foot duplex, built in 1910, contains two tenant-occupied apartments with distinct layouts. The main-level residence offers two bedrooms and one bathroom, while the upstairs unit includes one bedroom and one bathroom. Tenants pay their own utilities, separating those costs from the owner’s responsibilities.
The property also includes a yard and a detached two-car garage, providing outdoor space and additional covered storage or parking. Located at 341 W 15th St in Auburn, Indiana, the building combines a two-unit configuration with existing occupancy and supporting site improvements.
The property also includes a yard and a detached two-car garage, providing outdoor space and additional covered storage or parking. Located at 341 W 15th St in Auburn, Indiana, the building combines a two-unit configuration with existing occupancy and supporting site improvements.
Key Highlights
- Two tenant‑occupied apartments in one duplex
- Main‑level unit has 2 bedrooms and 1 bathroom
- Upstairs unit includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,732
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,640
$254.6K
Cap Rate 7%
$181,886
$181.9K
Cap Rate 9%
$141,467
$141.5K
Market Conditions
NOI Build-Up for 1,572 SF
Gross rent
$24.5K $15.60/SF
− Vacancy
−$1.4K −$0.87/SF
EGI
$23.1K $14.73/SF
− OpEx
−$10.4K −$6.63/SF
NOI
$12.7K $8.10/SF
Area
DeKalb County, IN
Vacancy
5.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,640
Cap Rate 7%
$181,886
Cap Rate 9%
$141,467
Alternative Uses
Best Use
Multifamily LT 5
$196.5K
$171.9K – $229.2K
NOI $13,753 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$181.9K
$159.2K – $212.2K
NOI $12,732 @ 7.0% cap · market cap 9.09%
Theoretical Best
Specialty Retail
$401.9K
$351.7K – $468.9K
NOI $28,133 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
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Business Placement
Demographics for 46706, IN
19,995
Population
8,336
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
95%
High-School Grad
87.9 sq mi
ZIP Area
227
Density / Sq Mi
$76,288
Median Household Income
$43,617
Median Earnings
$829
Median Rent
$194,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased apartments provide an established residential income configuration with separate utility responsibility for occupants.
Where is this duplex located?
The property is located at 341 W 15th St Auburn, IN.
What is the asking price?
The asking price for this property is $139,995.
What are key features of this property?
This property features: Two tenant‑occupied apartments in one duplex; Main‑level unit has 2 bedrooms and 1 bathroom; Upstairs unit includes 1 bedroom and 1 bathroom
