Residential Triplex with 2-Car
412 East 4th Street Mishawaka, IN 46544
412 East 4th Street, Mishawaka, IN, 46544
$249,900
Pending
For Sale
$249,900
Pending
Three currently rented units on one lot, including a 2-car garage with the rear duplex layout.
Property Size1,534 SF
Days on Market57
Property Features for 412 East 4th Street
General Information
- Standard status
- Pending
- Size
- 1,534 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1920
Listing agency
St. Joseph Realty Group
(574) 250-0893
Listed by
Stephen DiJulius
(574) 250-0893
Source
Compass
Added: May 27 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 10:31AM
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 residential triplex includes three income-producing units on one lot. The front home features 2 bedrooms and 2 bathrooms. The back portion is a duplex with a 1-bedroom unit and a 2-bedroom unit, and it also includes a 2-car garage. All three units are currently rented.
The property is tucked into a convenient Mishawaka location. With a single-lot, multi-unit configuration, the building is set up for an owner to manage three separate rental units under one roofline.
For buyers looking for an income property with existing tenants, this layout offers straightforward unit variety, including the 2-bedroom, 2-bath front home and the two additional bedrooms configurations in the rear duplex. It can also appeal to owner-occupants considering a live-in setup with flexible future plans, given that the units are already in place and generating rental income at the time of sale.
The property is tucked into a convenient Mishawaka location. With a single-lot, multi-unit configuration, the building is set up for an owner to manage three separate rental units under one roofline.
For buyers looking for an income property with existing tenants, this layout offers straightforward unit variety, including the 2-bedroom, 2-bath front home and the two additional bedrooms configurations in the rear duplex. It can also appeal to owner-occupants considering a live-in setup with flexible future plans, given that the units are already in place and generating rental income at the time of sale.
Key Highlights
- Three income‑producing units on one lot, all currently rented
- Front home features 2 bedrooms and 2 baths
- Rear duplex includes a 1‑bedroom unit and a 2‑bedroom unit
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 | $20.6k | $13.44 |
| − Vacancy | −$1.3k | −$0.86 |
| EGI | $19.3k | $12.58 |
| − OpEx | −$5.8k | −$3.78 |
| NOI | $13.5k | $8.81 |
1,534 SF · lease $13.44/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.0K
$168.9K – $225.2K
NOI $13,513 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$167.3K
$146.4K – $195.2K
NOI $11,713 @ 7.0% cap · market cap 4.69%
Theoretical Best
Retail
$304.2K
$266.2K – $354.9K
NOI $21,293 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three currently rented units on one lot, including a 2-car garage with the rear duplex layout.
Where is this triplex located?
The property is located at 412 East 4th Street Mishawaka, IN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three income‑producing units on one lot, all currently rented; Front home features 2 bedrooms and 2 baths; Rear duplex includes a 1‑bedroom unit and a 2‑bedroom unit
