Campus-Adjacent
For Sale
$117,000
3713 S Race St, Marion, IN 46953
Both apartments are currently rented in this two-unit residential property.
Property Size1,644 SF
Price / SF$71.17
Days on Market71
Property Features for 3713 S Race St
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
RE/MAX Realty One
Listed By:
Cathy Hunnicutt · License #RB15000856
(765) 454-7300
Source:
Spencerchildersgroup
Added: Aug 8
Changed: Oct 9
Last Checked: Oct 7 at 4:41PM
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 RE/MAX Realty One
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Investment Insights
Based on property information with market context.
This duplex contains two apartments totaling 1,644 square feet and was built in 1900. Both units are currently rented, providing an occupied residential configuration.
The property is located at 3713 S Race St in Marion, Indiana, approximately one block from the IWU campus. Showings are scheduled on Wednesdays and Saturdays between 11 a.m. and 3 p.m., with 48 hours requested for offer responses.
The property is located at 3713 S Race St in Marion, Indiana, approximately one block from the IWU campus. Showings are scheduled on Wednesdays and Saturdays between 11 a.m. and 3 p.m., with 48 hours requested for offer responses.
Key Highlights
- Two‑unit duplex with 1,644 square feet
- Both apartments are currently rented
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,954
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,080
$179.1K
Cap Rate 7%
$127,914
$127.9K
Cap Rate 9%
$99,489
$99.5K
Market Conditions
NOI Build-Up for 1,644 SF
Gross rent
$14.8K $9.00/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$12.8K $7.78/SF
− OpEx
−$3.8K −$2.33/SF
NOI
$9.0K $5.45/SF
Area
Grant County, IN
Vacancy
13.55%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,080
Cap Rate 7%
$127,914
Cap Rate 9%
$99,489
Alternative Uses
Best Use
Multifamily LT 5
$127.9K
$111.9K – $149.2K
NOI $8,954 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$117.0K
$102.3K – $136.5K
NOI $8,187 @ 7.0% cap · market cap 7.00%
Theoretical Best
Specialty Retail
$319.3K
$279.4K – $372.5K
NOI $22,349 @ 7.0% cap · market cap 19.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 46953, IN
22,781
Population
10,095
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
84%
High-School Grad
85.6 sq mi
ZIP Area
266
Density / Sq Mi
$46,224
Median Household Income
$25,969
Median Earnings
$800
Median Rent
$88,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are currently rented in this two-unit residential property.
Where is this duplex located?
The property is located at 3713 S Race St Marion, IN.
What is the asking price?
The asking price for this property is $117,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,644 square feet; Both apartments are currently rented; Built in 1900
