Turnkey Duplex
411-413 West 7th Street Mishawaka, IN 46544
For Sale
$220,000
Fully occupied duplex with two 3-bedroom, 1-bath units and separate utilities.
Property Size2,346 SF
Price / SF$93.78
Days on Market73
Property Features for 411-413 West 7th Street
General Information
- Standard status
- Active
- Size
- 2,346 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1888
Listing Agency:
St. Joseph Realty Group
(574) 344-9396
Listed By:
Kate Basham · License #RB24000999
(574) 344-9396
Source:
Compass
Added: May 13
Changed: Jul 23
Last Checked: Jul 23 at 5:12PM
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 St. Joseph Realty Group
Investment Insights
Based on property information with market context.
This turnkey duplex is being offered as a fully occupied residential income property. The building features two spacious 3-bedroom, 1-bath units, and each unit has separate utilities.
Located at 411-413 West 7th Street in Mishawaka, the property is set up for straightforward day-to-day occupancy as-is.
The current configuration provides two independent living spaces within one duplex structure, with separate utility services supporting simple management.
Located at 411-413 West 7th Street in Mishawaka, the property is set up for straightforward day-to-day occupancy as-is.
The current configuration provides two independent living spaces within one duplex structure, with separate utility services supporting simple management.
Key Highlights
- Fully occupied 2‑unit duplex with two 3‑bedroom, 1‑bath units (6 total bedrooms, 2 total baths)
- Separate utilities for each unit, with 2 electric meters, 2 gas meters, and 2 water meters
- Gas forced‑air heat and central air; vinyl exterior with chain‑link fenced yard
Financial Insights For Apartment 5plus
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 | $34.9k | $14.88 |
| − Vacancy | −$2.3k | −$1.00 |
| EGI | $32.6k | $13.88 |
| − OpEx | −$14.7k | −$6.25 |
| NOI | $17.9k | $7.64 |
2,346 SF · lease $14.88/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$295.2K
$258.3K – $344.4K
NOI $20,665 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$255.9K
$223.9K – $298.6K
NOI $17,913 @ 7.0% cap · market cap 8.14%
Theoretical Best
Retail
$465.2K
$407.1K – $542.8K
NOI $32,565 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully occupied duplex with two 3-bedroom, 1-bath units and separate utilities.
Where is this duplex located?
The property is located at 411-413 West 7th Street Mishawaka, IN.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Fully occupied 2‑unit duplex with two 3‑bedroom, 1‑bath units (6 total bedrooms, 2 total baths); Separate utilities for each unit, with 2 electric meters, 2 gas meters, and 2 water meters; Gas forced‑air heat and central air; vinyl exterior with chain‑link fenced yard
