Duplex With Rear
For Sale
$117,000
3812 S Washington St, Marion, IN 46953
Two-level apartment layout with outdoor space and rear parking across from IWU.
Property Size1,644 SF
Price / SF$71.17
Days on Market54
Property Features for 3812 S Washington St
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
large back yard area
open deck
parking
Building Details
Year Built
1900
Listing Agency:
RE/MAX Realty One
Listed By:
Cathy Hunnicutt · License #RB15000856
(765) 454-7300
Source:
Kmsrealestategroup
Added: Aug 15
Changed: Sep 25
Last Checked: Oct 6 at 12:42AM
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
Investment Insights
Based on property information with market context.
This 1,644-square-foot duplex is arranged as separate upstairs and downstairs apartments, providing a straightforward multifamily configuration. The property also includes a large rear yard, an open deck, and parking located behind the building.
Positioned across the street from IWU at 3812 S Washington St in Marion, the property combines a two-unit layout with outdoor areas and on-site parking. The existing configuration supports residential income use without relying on additional structural details.
Positioned across the street from IWU at 3812 S Washington St in Marion, the property combines a two-unit layout with outdoor areas and on-site parking. The existing configuration supports residential income use without relying on additional structural details.
Key Highlights
- 1,644‑square‑foot duplex with upstairs and downstairs apartments
- Located across the street from IWU
- Large rear yard area
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
408
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level apartment layout with outdoor space and rear parking across from IWU.
Where is this duplex located?
The property is located at 3812 S Washington 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: 1,644‑square‑foot duplex with upstairs and downstairs apartments; Located across the street from IWU; Large rear yard area
