415 N 2nd Street, Elkhart, IN 46516
- Added:
- Mar 11, 2026
- Days on Market:
- 121
- Last Refresh:
- Jul 8 at 11:06 pm
Property Features for 415 N 2nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3
- Parking
- 4
- Fireplace
- 1
- Standard status
- Pending
- APN
- 20-06-05-179-018.000-012
- Size
- 2,182 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- BEARDS 1ST N 1/2 LOT 107
- Tax Annual Amount
- 2300
Building Details
- Year built
- 1908
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Vinyl
- Architectural style
- Other
Listing agent Jennea Schirr License #RB14043735 (574) 215-9291
Listing office McKinnies Realty, LLC Elkhart 54560 CR 17, Mishawaka, IN (574) 271-3440
Listing date Mar 11, 2026
Copyright © 2026 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 4‑unit property with current monthly rents of $635, $650, $585, and $685
- Major updates include a new roof (2024) and replacement windows (2023)
- Updated flooring throughout with vinyl flooring noted
- Upgraded electrical service with separate meters
- Furnace is approximately 7 years old and water heater is approximately 1 year old
- Fireplace present; built in 1908
Overview
The property is located at 415 N 2nd Street in Elkhart, Indiana (Elkhart County). Public remarks describe the home as being near downtown Elkhart, with convenient access to local shopping, dining, and major employers.
Current monthly rents are reported as $635, $650, $585, and $685. For tenants, that rent schedule reflects an established multi-unit setup. For buyers and operators, the documented capital improvements and separately metered electrical service may reduce near-term maintenance needs while providing a clear starting point for managing four distinct residential units.
Local 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 | $31.9k | $14.64 |
| − Vacancy | −$2.5k | −$1.16 |
| EGI | $29.4k | $13.48 |
| − OpEx | −$13.2k | −$6.07 |
| NOI | $16.2k | $7.42 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Elkhart
- County
- Elkhart
- State
- Indiana
- Longitude
- -85.977082
- Latitude
- 41.690568
