Duplex with 2024 Roof
456 E Walnut Street Nappanee, IN 46550
456 E Walnut Street, Nappanee, IN, 46550
$155,000
For Sale
$155,000
MULTI_FAMILY - Nappanee, IN
Property Size1,916 SF
Lot Size0.20 Acres
Price / SF$80.90
Days on Market68
Property Features for 456 E Walnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 1, Basement, Bedroom 3, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4
- Parking
- 4
- Standard status
- Active
- APN
- 20-14-31-178-013.000-029
- Size
- 1,916 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- STAUFFERS 2ND LOT 15
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl
- Architectural style
- Other
Listing Agency
Berkshire Hathaway HomeServices Elkhart
(574) 293-1010
1741 E Bristol St., Elkhart, IN
Listed by
Ashley Lambright · License #RB16001927
(574) 238-0208
Added: May 11 Checked: Jul 17 at 5:06 pm
MLS# 202617654
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.
Investment Insights
Based on property information with market context.
This duplex property offers two separate living units, suited for an investor looking for rental income or an owner who wants the option to occupy one unit while leasing the other. The upstairs unit is ready for a renter or can be set up for owner occupancy. Exterior updates include a roof replacement completed in 2024, supporting a smoother transition for a new owner.
The property is located at 456 E Walnut Street in Nappanee, Indiana, within the Wa-Nee School District and in Elkhart County. The site sits on approximately 0.2 acres and totals about 1,916 square feet.
For buyers considering residential income or a live-in arrangement, the flexible upstairs configuration is the key feature. With the roof recently replaced and at least one unit described as ready for a new occupant, this home can fit well for someone seeking a manageable duplex setup in the Wa-Nee School District.
The property is located at 456 E Walnut Street in Nappanee, Indiana, within the Wa-Nee School District and in Elkhart County. The site sits on approximately 0.2 acres and totals about 1,916 square feet.
For buyers considering residential income or a live-in arrangement, the flexible upstairs configuration is the key feature. With the roof recently replaced and at least one unit described as ready for a new occupant, this home can fit well for someone seeking a manageable duplex setup in the Wa-Nee School District.
Key Highlights
- Duplex in Wa‑Nee School District with upstairs unit ready for a renter or owner‑occupied use
- Roof replacement completed in 2024
- Built in 1910
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 | $28.1k | $14.64 |
| − Vacancy | −$2.2k | −$1.16 |
| EGI | $25.8k | $13.48 |
| − OpEx | −$11.6k | −$6.07 |
| NOI | $14.2k | $7.42 |
1,916 SF · lease $14.64/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$227.6K
$199.1K – $265.5K
NOI $15,929 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$203.0K
$177.6K – $236.8K
NOI $14,209 @ 7.0% cap · market cap 9.17%
Theoretical Best
Specialty Retail
$354.7K
$310.4K – $413.9K
NOI $24,831 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex in the Wa-Nee School District with a 2024 roof, offering rental-ready upstairs space or owner-occupant flexibility.
Where is this duplex located?
The property is located at 456 E Walnut Street Nappanee, IN.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Duplex in Wa‑Nee School District with upstairs unit ready for a renter or owner‑occupied use; Roof replacement completed in 2024; Built in 1910
