Duplex with In-Unit
For Sale
$215,000
415 W Perry Street, Warsaw, IN 46580
INVESTMENT, Two Story, Warsaw, IN
Property Size1,400 SF
Lot Size0.10 Acres
Price / SF$153.57
Days on Market10
Property Features for 415 W Perry Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking
2
Subdivision
Hood & Britton
Lot features
0-2.9999
Elementary school
Washington
Middle school
Edgewood
High school
Warsaw
Elementary school district
Warsaw Community
Middle school district
Warsaw Community
High school district
Warsaw Community
Directions
From N Lake St heading N, turn left onto Perry St. Property will be on the left.
Standard status
Active
APN
43-11-08-400-358.000-032
Size
1,400 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
4-42-115 W 1/2 E 1/2 LOT 439 HOOD & BRITTON ADD AKA CITY OF WARSAW, AND 004-042-115.A W 1/2 E 1/2 Lot 440 Hood & Britton Add AKA City of Warsaw
Tax Annual Amount
1146
Legal Description
4-42-115 W 1/2 E 1/2 LOT 439 HOOD & BRITTON ADD AKA CITY OF WARSAW, AND 004-042-115.A W 1/2 E 1/2 Lot 440 Hood & Britton Add AKA City of Warsaw
Utilities
Cooling system
Heat Pump
Amenities
in-unit laundry
porch
backyard
Building Details
Year built
2022
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Architectural style
Other
Listing Agency:
RE/MAX Results · RE/MAX International
(574) 269-6911
Listed By:
James Bausch · License #RB15000093
(574) 742-4531
Added: Sep 28
Last Checked: Oct 7 at 9:06AM
MLS# 202640173
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit property contains 1,400 square feet on a 0.1-acre lot. The first apartment has two bedrooms and an open living area, with an updated kitchen featuring an island and seating. Its full bathroom has a newer tub surround and vanity. The second apartment has a main-floor eat-in kitchen, with its bedroom and full bathroom upstairs. Both units have stackable washers and dryers; the interiors have been updated, and the second unit received fresh paint and new main-level flooring this year.
Electricity is separately metered for each tenant. Water, sewer, and trash costs are billed back to tenants. The property includes a porch and a backyard with a mature shade tree. Downtown shopping, dining, employment, Central Park, and Center Lake are within walking distance.
Electricity is separately metered for each tenant. Water, sewer, and trash costs are billed back to tenants. The property includes a porch and a backyard with a mature shade tree. Downtown shopping, dining, employment, Central Park, and Center Lake are within walking distance.
Key Highlights
- Two apartments totaling 1,400 square feet on a 0.1‑acre lot
- Unit A has 2 bedrooms; Unit B has 1 bedroom and an upstairs full bath
- 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
NOI $11,855 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$151.7K
$132.8K – $177.0K
NOI $10,622 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$243.9K
$213.4K – $284.6K
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
Lease Details
2
Residential units
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
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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 - Both apartments have separate kitchens, private laundry equipment, and tenant-billed water, sewer, and trash service.
Where is this duplex located?
The property is located at 415 W Perry Street 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 apartments totaling 1,400 square feet on a 0.1‑acre lot; Unit A has 2 bedrooms; Unit B has 1 bedroom and an upstairs full bath; Stackable washer and dryer in each unit
