Updated Two-Unit
604 N Frances St, South Bend, IN 46617
For Sale
$199,900
Each residence includes a bedroom, full bathroom, eat-in kitchen, in-unit laundry, and ample closet storage.
Property Size1,084 SF
Price / SF$184.41
Days on Market95
Property Features for 604 N Frances St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry
deck
shed
Building Details
Year Built
Buildings
Listing Agency:
Irish Realty
Listed By:
Brandon Thomas · License #RB20000112
(574) 360-2569
Source:
Spencerchildersgroup
Added: Aug 7
Changed: Oct 25
Last Checked: Oct 19 at 7:39AM
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 Irish Realty
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Investment Insights
Based on property information with market context.
This 1,084-square-foot duplex at 604 N Frances St includes two residences, each with one bedroom and one bathroom. Both units offer in-unit laundry, generous closet space, an eat-in kitchen with substantial cabinetry, and a full bathroom with built-in shelving. Recent improvements include new flooring, fresh interior paint, and new windows. A large deck provides exterior access to the home, while a shed adds storage capacity.
The property is located one mile from the University of Notre Dame, south of the university. Downtown South Bend and the new Trader Joe’s are within walking distance, adding convenient access to nearby destinations. The two-unit configuration and updated features support both owner-occupancy and rental use.
The property is located one mile from the University of Notre Dame, south of the university. Downtown South Bend and the new Trader Joe’s are within walking distance, adding convenient access to nearby destinations. The two-unit configuration and updated features support both owner-occupancy and rental use.
Key Highlights
- Two‑unit duplex totaling 1,084 square feet
- Each unit has 1 bedroom and 1 bathroom
- In‑unit laundry, ample closets, and built‑in bathroom shelving in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,655
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$193,100
$193.1K
Cap Rate 7%
$137,929
$137.9K
Cap Rate 9%
$107,278
$107.3K
Market Conditions
NOI Build-Up for 1,084 SF
Gross rent
$15.0K $13.80/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$13.8K $12.72/SF
− OpEx
−$4.1K −$3.82/SF
NOI
$9.7K $8.91/SF
Area
South Bend, IN
Vacancy
7.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$193,100
Cap Rate 7%
$137,929
Cap Rate 9%
$107,278
Alternative Uses
Best Use
Multifamily LT 5
$137.9K
$120.7K – $160.9K
NOI $9,655 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$127.6K
$111.7K – $148.9K
NOI $8,934 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$274.2K
$240.0K – $320.0K
NOI $19,197 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
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Business Placement
Demographics for 46617, IN
9,813
Population
5,502
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.6 sq mi
ZIP Area
3,774
Density / Sq Mi
$73,700
Median Household Income
$37,331
Median Earnings
$1,422
Median Rent
$231,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a bedroom, full bathroom, eat-in kitchen, in-unit laundry, and ample closet storage.
Where is this duplex located?
The property is located at 604 N Frances 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: Two‑unit duplex totaling 1,084 square feet; Each unit has 1 bedroom and 1 bathroom; In‑unit laundry, ample closets, and built‑in bathroom shelving in both units
