Duplex with Two-Stall
For Sale
$224,999
820 Kilbourn Street, Elkhart, IN 46514
Both residences are vacant, and the ground-floor unit has a washer and dryer.
Property Size1,596 SF
Price / SF$140.98
Days on Market9
Property Features for 820 Kilbourn Street
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
off-street parking
washer & dryer
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Exp Realty, LLC
(812) 215-1057
Listed By:
Carson and Lisa Lowry Real Estate
(812) 305-4663
Source:
Carsonlowryrealestate
Added: Sep 28
Changed: Oct 6
Last Checked: Oct 5 at 6:15PM
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 Exp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit property contains 1,596 square feet. Recent updates include carpet and paint, and the ground-level residence has a washer and dryer. Both units are vacant. The property also includes off-street parking and a two-stall garage. The sale is on an as-is basis.
Key Highlights
- Two‑unit property with 1,596 square feet
- Two‑stall garage and off‑street parking
- Ground‑level unit includes a washer and dryer
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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; Two‑stall garage and off‑street parking; Ground‑level unit includes a washer and dryer
