Fourplex with Separate Electric
For Sale
$199,900
602 E Dayton St, South Bend, IN 46613
All four residences are occupied, with leases in place.
Property Size2,192 SF
Price / SF$91.20
Days on Market8
Property Features for 602 E Dayton St
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Southeast Organized Residents
Units
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,884
Listing Agency:
At Home Realty Group
Listed By:
Drew Overmyer · License #RB19002001
(574) 299-3184
Source:
Exprealty
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 26 at 9:16PM
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 At Home Realty Group
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Investment Insights
Based on property information with market context.
This four-unit residential property in South Bend contains 2,192 square feet. All units are occupied, and leases are in place; most residences have been updated. Separate electrical meters serve the units.
Located at 602 E Dayton St, the property offers a compact multifamily configuration with existing occupancy and leasing in place.
Located at 602 E Dayton St, the property offers a compact multifamily configuration with existing occupancy and leasing in place.
Key Highlights
- Four‑unit residential property totaling 2,192 square feet
- All units occupied with leases in place
- Most units have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,066
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,320
$361.3K
Cap Rate 7%
$258,086
$258.1K
Cap Rate 9%
$200,733
$200.7K
Market Conditions
NOI Build-Up for 2,192 SF
Gross rent
$35.5K $16.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$32.8K $14.99/SF
− OpEx
−$14.8K −$6.74/SF
NOI
$18.1K $8.24/SF
Area
South Bend, IN
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,320
Cap Rate 7%
$258,086
Cap Rate 9%
$200,733
Alternative Uses
Best Use
Multifamily LT 5
$278.9K
$244.0K – $325.4K
NOI $19,523 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$258.1K
$225.8K – $301.1K
NOI $18,066 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$554.5K
$485.2K – $647.0K
NOI $38,818 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Explore this area
Business Placement
Demographics for 46613, IN
11,427
Population
4,758
Households
2.4
Avg Household Size
30
Median Age
13%
College-Educated
82%
High-School Grad
3.2 sq mi
ZIP Area
3,571
Density / Sq Mi
$41,625
Median Household Income
$23,984
Median Earnings
$991
Median Rent
$71,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, with leases in place.
Where is this quadplex located?
The property is located at 602 E Dayton St South Bend, IN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Four‑unit residential property totaling 2,192 square feet; All units occupied with leases in place; Most units have been updated
