Building Details

Year Built 1918

Buildings 1

Tenancy Multi

Listing Agency: RE/MAX Results

Listed By: James Bausch · License #RB15000093 Show Phone

Source: Theferrellgroupkw

Added: Jul 18 Changed: Oct 2 Last Checked: Oct 13 at 1:07AM

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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 RE/MAX Results

Investment Insights

Based on property information with market context.

This duplex contains two residential units with a combined property size of 1278. The main-level unit has 1 bedroom and 1 bathroom, while the upper unit includes 2 bedrooms and 1 bathroom. Both units have in-unit laundry. Improvements include new flooring, a tub and surround, an exterior door, two newer HVAC systems, newer water heaters, and a roof that is only a few years old. The main level also includes a covered front porch.

Gas, electric, and water are separately metered, with utilities paid by tenants. The owner covers sewer and trash. Long-term tenants are in place. The property is within walking distance of local shops and Syracuse Park & Beach in Syracuse, Indiana.

Key Highlights

• Two‑unit duplex with 1‑bedroom and 2‑bedroom layouts
• Both units include in‑unit laundry
• Separately metered gas, electric, and water; tenants pay utilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,822

Cap Rate

7.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$216,440 $216.4K

Cap Rate 7%

$154,600 $154.6K

Cap Rate 9%

$120,244 $120.2K

Market Conditions

NOI Build-Up for 1,278 SF

Gross rent

$16.1K $12.60/SF

− Vacancy

−$643 −$0.50/SF

EGI

$15.5K $12.10/SF

− OpEx

−$4.6K −$3.63/SF

NOI

$10.8K $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%

$216,440

Cap Rate 7%

$154,600

Cap Rate 9%

$120,244

Alternative Uses

Best Use

Multifamily LT 5

$154.6K

$135.3K – $180.4K (±1% cap)

NOI $10,822 @ 7.0% cap · market cap 7.26%

Second Best

Apartment 5plus

$138.5K

$121.2K – $161.6K (±1% cap)

NOI $9,697 @ 7.0% cap · market cap 6.51%

Theoretical Best

Office A

$222.6K

$194.8K – $259.8K (±1% cap)

NOI $15,585 @ 7.0% cap · market cap 10.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

BrewCity Roasting Company Take-out & Catering Bed State Tracker Department Store Sundown Solutions (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Dental Office Building Supply HVAC Service Big Box & Wholesale Store Electrical Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

303

Businesses Nearby

Explore this area Business Placement

Demographics for 46567, IN

9,773

Population

5,849

Households

1.7

Avg Household Size

44

Median Age

25%

College-Educated

90%

High-School Grad

57.3 sq mi

ZIP Area

171

Density / Sq Mi

$73,277

Median Household Income

$46,327

Median Earnings

$964

Median Rent

$228,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two separately metered units offer in-unit laundry, updated mechanical systems, and a covered front porch.

Where is this duplex located?

The property is located at 605 N Huntington St Syracuse, IN.

What is the asking price?

The asking price for this property is $149,000.

What are key features of this property?

This property features: Two‑unit duplex with 1‑bedroom and 2‑bedroom layouts; Both units include in‑unit laundry; Separately metered gas, electric, and water; tenants pay utilities