Two-Home Multifamily
New
For Sale
$200,000
7350/7360 N Elm Street, Walkerton, IN 46574
The neighboring residences have separate electric and gas service and share a well and community sewer connection.
Property Size996 SF
Price / SF$200.80
Days on Market4
Property Features for 7350/7360 N Elm Street
General Information
Standard status
Active
Size
996 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity, gas
Additional Details
Utilities to Site
Yes
Building Details
Building Size
996 SF
Year Built
1936
Buildings
2
Stories
1
Units
2
Listing Agency:
Kaser Realty, LLC
(574) 656-9088
Listed By:
Jason Kaser · License #RB14033635
(574) 532-2427
Source:
Abbottsteam
Added: Nov 1
Changed: Nov 2
Last Checked: Nov 4 at 6:03AM
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 Kaser Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property consists of two side-by-side homes. The 7360 residence has two bedrooms, one bathroom, approximately 656 square feet, and a basement. Both homes have gas heat and central air, with separate electric and gas service. They share a 4-inch well and connect to the community sewer system. A large garage accommodates up to three cars or recreational equipment; its roof was replaced 4–5 years ago.
The property includes a non-deeded pier a short walk from lake access, where a boat can be docked. Koontz Lake is a 346-acre recreational lake, and Swan Lake Golf Course, featuring 36 holes, is a five-minute drive away.
The property includes a non-deeded pier a short walk from lake access, where a boat can be docked. Koontz Lake is a 346-acre recreational lake, and Swan Lake Golf Course, featuring 36 holes, is a five-minute drive away.
Key Highlights
- Two side‑by‑side homes included in the property
- 7360 home: 2 bedrooms, 1 bathroom, approximately 656 square feet, and a basement
- Both homes have gas heat and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,605
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,100
$152.1K
Cap Rate 7%
$108,643
$108.6K
Cap Rate 9%
$84,500
$84.5K
Market Conditions
NOI Build-Up for 996 SF
Gross rent
$14.8K $14.88/SF
− Vacancy
−$993 −$1.00/SF
EGI
$13.8K $13.88/SF
− OpEx
−$6.2K −$6.25/SF
NOI
$7.6K $7.64/SF
Area
St. Joseph County, IN
Vacancy
6.70%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,100
Cap Rate 7%
$108,643
Cap Rate 9%
$84,500
Alternative Uses
Best Use
Apartment 5plus
$108.6K
$95.1K – $126.8K
NOI $7,605 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$197.5K
$172.8K – $230.4K
NOI $13,825 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 46574, IN
8,377
Population
3,952
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
92%
High-School Grad
97.5 sq mi
ZIP Area
86
Density / Sq Mi
$73,950
Median Household Income
$40,731
Median Earnings
$839
Median Rent
$167,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The neighboring residences have separate electric and gas service and share a well and community sewer connection.
Where is this multifamily property located?
The property is located at 7350/7360 N Elm Street Walkerton, IN.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two side‑by‑side homes included in the property; 7360 home: 2 bedrooms, 1 bathroom, approximately 656 square feet, and a basement; Both homes have gas heat and central air
