Building Details

Year Built 2022

Listing Agency: RE/MAX Results

Listed By: James Bausch · License #RB15000093 Show Phone

Source: Theferrellgroupkw

Added: Sep 30 Changed: Oct 1 Last Checked: Oct 5 at 11:17PM

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Investment Insights

Based on property information with market context.

This duplex contains two residences with distinct layouts. Unit A has two bedrooms and an open main living area, along with an updated kitchen featuring a center island, seating, open shelving, and a tiled backsplash. Its full bathroom has a newer tub surround and vanity. Unit B was built in 2022 and has an eat-in kitchen and stackable washer and dryer on the main floor, with a bedroom and full bathroom upstairs. Recent work in Unit B includes fresh paint and new flooring on the main level.

Both units have stackable laundry. Electricity is separately metered, while water, sewer, and trash charges are billed to tenants. The property also has a porch and a backyard with a mature shade tree. Downtown shopping, restaurants, and employment are within walking distance, with Central Park and Center Lake nearby.

Key Highlights

• Two separate residences, including a two‑bedroom Unit A
• Unit B was built in 2022 and has its bedroom and full bathroom upstairs
• Stackable washer and dryer in each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,855

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$237,100 $237.1K

Cap Rate 7%

$169,357 $169.4K

Cap Rate 9%

$131,722 $131.7K

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$17.6K $12.60/SF

− Vacancy

−$704 −$0.50/SF

EGI

$16.9K $12.10/SF

− OpEx

−$5.1K −$3.63/SF

NOI

$11.9K $8.47/SF

Area

Kosciusko County, IN

Vacancy

3.99%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$237,100

Cap Rate 7%

$169,357

Cap Rate 9%

$131,722

Alternative Uses

Best Use

Multifamily LT 5

$169.4K

$148.2K – $197.6K (±1% cap)

NOI $11,855 @ 7.0% cap · market cap 5.51%

Second Best

Apartment 5plus

$151.7K

$132.8K – $177.0K (±1% cap)

NOI $10,622 @ 7.0% cap · market cap 4.94%

Theoretical Best

Office A

$243.9K

$213.4K – $284.6K (±1% cap)

NOI $17,073 @ 7.0% cap · market cap 7.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Electrical Service Butcher Bakery HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

616

Businesses Nearby

Explore this area Business Placement

Demographics for 46580, IN

22,381

Population

8,873

Households

2.5

Avg Household Size

38

Median Age

25%

College-Educated

88%

High-School Grad

71.1 sq mi

ZIP Area

315

Density / Sq Mi

$70,978

Median Household Income

$40,231

Median Earnings

$963

Median Rent

$175,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences include in-unit laundry, and electricity is separately metered for each unit.

Where is this duplex located?

The property is located at 415 W Perry St Warsaw, IN.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: Two separate residences, including a two‑bedroom Unit A; Unit B was built in 2022 and has its bedroom and full bathroom upstairs; Stackable washer and dryer in each unit