Well-Maintained Duplex
3713 S Race Street Marion, IN 46953
New
3713 S Race Street, Marion, IN, 46953
$117,000
For Sale
$117,000
MULTI_FAMILY - Other - Marion, IN
Property Size1,644 SF
Lot Size0.22 Acres
Price / SF$71.17
Days on Market2
Property Features for 3713 S Race Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 1, Bedroom 2, Bathroom 3
- Parking
- 4
- Fireplace
- 1
- Standard status
- Active
- APN
- 27-07-18-304-154.000-002
- Size
- 1,644 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 780
- Tax Description
- 6' S/SD LOT 38 & LOT 41 WIGGER & PENCE 2ND ADD
- Tax Annual Amount
- 300
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Vinyl
- Architectural style
- Other
Listing Agency
RE/MAX Realty One
(765) 454-7300
1801 S Elizabeth St, Kokomo, IN
Listed by
Cathy Hunnicutt · License #RB15000856
(765) 618-9394
Added: Jul 17 Checked: Jul 18 at 6:06 pm
MLS# 202628751
Copyright © 2026 REALTORS Association of Central Indiana. 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 well-maintained duplex offers two apartments, with both units currently rented. The property provides a straightforward residential income setup for an owner seeking current cash flow.
The duplex is located at 3713 S Race Street in Marion, Indiana, and is described as being about one block from the IWU campus. Showings are scheduled on Wednesdays and Saturdays between 11:00 AM and 3:00 PM, and buyers are asked to allow 48 hours for response to offers.
The duplex is located at 3713 S Race Street in Marion, Indiana, and is described as being about one block from the IWU campus. Showings are scheduled on Wednesdays and Saturdays between 11:00 AM and 3:00 PM, and buyers are asked to allow 48 hours for response to offers.
Key Highlights
- Duplex located one block from IWU campus, with both apartments currently rented
- Central air cooling
- Fireplace on the property
Local 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 | $14.8k | $9.00 |
| − Vacancy | −$2.0k | −$1.22 |
| EGI | $12.8k | $7.78 |
| − OpEx | −$3.8k | −$2.33 |
| NOI | $9.0k | $5.45 |
1,644 SF · lease $9.00/SF/yr · vacancy 13.55% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex with both apartments currently rented, located about one block from IWU campus.
Where is this duplex located?
The property is located at 3713 S Race Street 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: Duplex located one block from IWU campus, with both apartments currently rented; Central air cooling; Fireplace on the property
