Two-Unit Duplex with Detached
For Sale
$249,900
924 N Main St, Elkhart, IN 46516
Both residences have separate kitchens and living areas, and each is equipped with its own water heater.
Property Size2,016 SF
Price / SF$123.96
Days on Market17
Property Features for 924 N Main St
General Information
Standard status
Active
Size
2,016 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,200
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty Group
Listed By:
Patricia Graham · License #RB14050077
(574) 536-6899
Source:
Exprealty
Added: Oct 12
Changed: Oct 26
Last Checked: Oct 26 at 3:06PM
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 Keller Williams Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,016 square feet. Each residence has two bedrooms, a kitchen, dining area, and living room; the main-floor unit also includes a fireplace. The lower residence connects internally to the basement, which has an exterior entrance and laundry area. A stacked washer and dryer remain in the upper unit, and each residence has a separate water heater.
The property includes a detached garage with four-car capacity. Siding and window wrap were updated in 2025, and the roof is listed as new in 2026. The air conditioning and HVAC systems are five years old. One of the two units is currently rented.
The property includes a detached garage with four-car capacity. Siding and window wrap were updated in 2025, and the roof is listed as new in 2026. The air conditioning and HVAC systems are five years old. One of the two units is currently rented.
Key Highlights
- Two‑unit duplex with 2,016 square feet
- Each unit has 2 bedrooms, a kitchen, dining area, and living room
- Detached garage accommodates 4 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,761
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,220
$335.2K
Cap Rate 7%
$239,443
$239.4K
Cap Rate 9%
$186,233
$186.2K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$25.9K $12.84/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$23.9K $11.88/SF
− OpEx
−$7.2K −$3.56/SF
NOI
$16.8K $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%
$335,220
Cap Rate 7%
$239,443
Cap Rate 9%
$186,233
Alternative Uses
Best Use
Multifamily LT 5
$239.4K
$209.5K – $279.4K
NOI $16,761 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,950 @ 7.0% cap · market cap 5.98%
Theoretical Best
Specialty Retail
$373.2K
$326.6K – $435.5K
NOI $26,127 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 46516, IN
33,670
Population
14,137
Households
2.4
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
17.5 sq mi
ZIP Area
1,924
Density / Sq Mi
$54,934
Median Household Income
$39,189
Median Earnings
$986
Median Rent
$150,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate kitchens and living areas, and each is equipped with its own water heater.
Where is this duplex located?
The property is located at 924 N Main St Elkhart, IN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,016 square feet; Each unit has 2 bedrooms, a kitchen, dining area, and living room; Detached garage accommodates 4 cars
