Four-Unit Building with New
For Sale
$239,900
536 E Center St, Warsaw, IN 46580
Income property with updated improvements, garage storage, and a basement offering additional storage space.
Property Size2,678 SF
Price / SF$89.58
Days on Market82
Property Features for 536 E Center St
General Information
Standard status
Active
Size
2,678 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1895
Listing Agency:
eXp Realty, LLC
Listed By:
Geoff Cavender · License #RB17002203
(574) 527-1651
Source:
Kmsrealestategroup
Added: Jul 29
Changed: Oct 8
Last Checked: Oct 7 at 1:47PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This four-unit residential income property is located at 536 E Center St in Warsaw. Built in 1895, the building has received multiple recent updates, including a newly constructed garage divided into two separate units. Those garage units are currently used by the owner for storage.
The basement provides substantial additional storage area. The property’s four primary units, updated garage structure, and basement storage create a multifamily configuration with several distinct components to evaluate.
The basement provides substantial additional storage area. The property’s four primary units, updated garage structure, and basement storage create a multifamily configuration with several distinct components to evaluate.
Key Highlights
- Four‑unit building in Warsaw, Indiana
- Built in 1895
- Recently constructed garage divided into 2 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,319
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,380
$406.4K
Cap Rate 7%
$290,271
$290.3K
Cap Rate 9%
$225,767
$225.8K
Market Conditions
NOI Build-Up for 2,678 SF
Gross rent
$38.6K $14.40/SF
− Vacancy
−$1.6K −$0.60/SF
EGI
$36.9K $13.80/SF
− OpEx
−$16.6K −$6.21/SF
NOI
$20.3K $7.59/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,380
Cap Rate 7%
$290,271
Cap Rate 9%
$225,767
Alternative Uses
Best Use
Multifamily LT 5
$324.0K
$283.5K – $378.0K
NOI $22,678 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$290.3K
$254.0K – $338.7K
NOI $20,319 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$466.5K
$408.2K – $544.3K
NOI $32,658 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
766
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
Frequently Asked Questions
What type of property is this?
Quadplex - Income property with updated improvements, garage storage, and a basement offering additional storage space.
Where is this quadplex located?
The property is located at 536 E Center St Warsaw, IN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Four‑unit building in Warsaw, Indiana; Built in 1895; Recently constructed garage divided into 2 units
