Duplex with Two
For Sale
$225,000
903 N Lake St, Syracuse, IN 46567
Existing rental income supports the property's two-unit configuration.
Property Size1,652 SF
Price / SF$136.20
Days on Market56
Property Features for 903 N Lake St
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Listing Leaders, NCI-Culver
Listed By:
Mckenzie Click
(574) 842-4663
Source:
Spencerchildersgroup
Added: Aug 13
Changed: Sep 11
Last Checked: Oct 7 at 1:40PM
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 Listing Leaders, NCI-Culver
Investment Insights
Based on property information with market context.
Located at 903 N Lake St in Syracuse, this 1,652-square-foot duplex contains two separate residential units. Rental income is already in place, providing an established income-producing setup for the property.
The property is close to Syracuse Beach, local restaurants, and parks, placing recreational and everyday neighborhood amenities nearby. Its two-unit layout offers a straightforward multifamily configuration for continued rental use.
The property is close to Syracuse Beach, local restaurants, and parks, placing recreational and everyday neighborhood amenities nearby. Its two-unit layout offers a straightforward multifamily configuration for continued rental use.
Key Highlights
- 1,652‑square‑foot duplex at 903 N Lake St, Syracuse, IN
- Two separate residential units
- Rental income already in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,989
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,780
$279.8K
Cap Rate 7%
$199,843
$199.8K
Cap Rate 9%
$155,433
$155.4K
Market Conditions
NOI Build-Up for 1,652 SF
Gross rent
$20.8K $12.60/SF
− Vacancy
−$831 −$0.50/SF
EGI
$20.0K $12.10/SF
− OpEx
−$6.0K −$3.63/SF
NOI
$14.0K $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%
$279,780
Cap Rate 7%
$199,843
Cap Rate 9%
$155,433
Alternative Uses
Best Use
Multifamily LT 5
$199.8K
$174.9K – $233.2K
NOI $13,989 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$179.1K
$156.7K – $208.9K
NOI $12,534 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$287.8K
$251.8K – $335.8K
NOI $20,146 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
204
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Existing rental income supports the property's two-unit configuration.
Where is this duplex located?
The property is located at 903 N Lake St Syracuse, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,652‑square‑foot duplex at 903 N Lake St, Syracuse, IN; Two separate residential units; Rental income already in place
