4-Unit Single-Story
For Sale
Contact for pricing
723 E 30th Street, Marion, IN 46953
Income-producing four-unit property with individual utility metering and tenant-paid utilities across a balanced one- and two-bedroom mix.
Property Size2,010 SF
Price / SF$124.38
Days on Market10
Property Features for 723 E 30th Street
General Information
Standard status
Active
Size
2,010 SF
Total Parking Spaces
6
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$17,955
Building Details
Year Built
1900
Year Renovated
2023
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Ellsbury Group
(765) 401-1122
Listed By:
Justin Lowe · License #RB19001645
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 21 at 1:57PM
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 Ellsbury Group
Investment Insights
Based on property information with market context.
Located at 723 E 30th Street in Marion, Indiana, this four-unit multifamily property includes two one-bedroom apartments and two two-bedroom apartments. The single-story frame building contains 2,010 square feet and was built in 1900. Each unit is individually metered, with tenants responsible for utilities. Mechanical systems include forced-air heat, forced-air and window air conditioning, and electric water heaters.
The property occupies a 6,098-square-foot lot with six off-street parking spaces and is near Indiana Wesleyan University. Current operations reflect a 7.2% cap rate, with a 7.6% pro forma cap rate identified in the property information. No owner-paid utilities are reported.
The property occupies a 6,098-square-foot lot with six off-street parking spaces and is near Indiana Wesleyan University. Current operations reflect a 7.2% cap rate, with a 7.6% pro forma cap rate identified in the property information. No owner-paid utilities are reported.
Key Highlights
- Four units consisting of two 1‑bedroom and two 2‑bedroom apartments
- 2,010‑square‑foot single‑story frame building built in 1900
- 6,098‑square‑foot lot with 6 off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,947
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,940
$218.9K
Cap Rate 7%
$156,386
$156.4K
Cap Rate 9%
$121,633
$121.6K
Market Conditions
NOI Build-Up for 2,010 SF
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.
Gross rent
$18.1K $9.00/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$15.6K $7.78/SF
− OpEx
−$4.7K −$2.33/SF
NOI
$10.9K $5.45/SF
Area
Grant County, IN
Vacancy
13.55%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,940
Cap Rate 7%
$156,386
Cap Rate 9%
$121,633
Alternative Uses
Best Use
Multifamily LT 5
$156.4K
$136.8K – $182.5K
NOI $10,947 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$143.0K
$125.1K – $166.8K
NOI $10,009 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$390.4K
$341.6K – $455.4K
NOI $27,325 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 46953, IN
22,781
Population
10,095
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
84%
High-School Grad
85.6 sq mi
ZIP Area
266
Density / Sq Mi
$46,224
Median Household Income
$25,969
Median Earnings
$800
Median Rent
$88,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing four-unit property with individual utility metering and tenant-paid utilities across a balanced one- and two-bedroom mix.
Where is this quadplex located?
The property is located at 723 E 30th Street Marion, IN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four units consisting of two 1‑bedroom and two 2‑bedroom apartments; 2,010‑square‑foot single‑story frame building built in 1900; 6,098‑square‑foot lot with 6 off‑street parking spaces
