Duplex with Two-Stall
820 Kilbourn Street, Elkhart, IN 46514
For Sale
$224,999
INVESTMENT, Two and Half Story, Elkhart, IN
Property Size1,596 SF
Lot Size0.20 Acres
Price / SF$140.98
Days on Market50
Property Features for 820 Kilbourn Street
General Information
Property type
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Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Fencing
Basement
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
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Subdivision
Standard status
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Size
Lot size
Taxes and HOA fees
Tax Year
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Legal Description
Building Details
Year built
Floors in Building
Number of units
Flooring type
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Architectural style
Buildings
Listing Agency:
Berkshire Hathaway HomeServices Elkhart
(574) 293-1010
Listed By:
Michele Mathewson
(574) 596-4521
Added: Sep 26
Changed: Nov 13
Last Checked: Nov 14 at 1:06AM
MLS# 202639983
Copyright © 2026 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-unit property contains 1,596 square feet on a 0.2-acre lot. Built in 1900, the two-and-a-half-story building has carpet and vinyl flooring, with recent carpet and paint updates. The ground-floor residence includes a washer and dryer.
Off-street parking and a two-stall garage serve the property. Both units are currently unoccupied.
Off-street parking and a two-stall garage serve the property. Both units are currently unoccupied.
Key Highlights
- Two‑unit property with 1,596 square feet of building area
- 0.2‑acre lot
- Two‑stall garage and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,269
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,380
$265.4K
Cap Rate 7%
$189,557
$189.6K
Cap Rate 9%
$147,433
$147.4K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$20.5K $12.84/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$19.0K $11.88/SF
− OpEx
−$5.7K −$3.56/SF
NOI
$13.3K $8.31/SF
Area
Elkhart County, IN
Vacancy
7.50%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,380
Cap Rate 7%
$189,557
Cap Rate 9%
$147,433
Alternative Uses
Best Use
Multifamily LT 5
$189.6K
$165.9K – $221.2K
NOI $13,269 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$169.1K
$148.0K – $197.3K
NOI $11,836 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
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Business Placement
Demographics for 46514, IN
42,048
Population
17,987
Households
2.3
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,784
Median Household Income
$40,909
Median Earnings
$1,084
Median Rent
$170,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Elkhart County, IN
Properties on Market for Duplexes in Elkhart County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, and the ground-floor unit has a washer and dryer.
Where is this duplex located?
The property is located at 820 Kilbourn Street Elkhart, IN.
What is the asking price?
The asking price for this property is $224,999.
What are key features of this property?
This property features: Two‑unit property with 1,596 square feet of building area; 0.2‑acre lot; Two‑stall garage and off‑street parking
