Duplex with Detached
New
For Sale
$249,900
924 N Main Street, Elkhart, IN 46514
INVESTMENT, Two Story, Elkhart, IN
Property Size2,016 SF
Lot Size0.17 Acres
Price / SF$123.96
Days on Market6
Property Features for 924 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2
Parking
2
Lot features
0-2.9999
Elementary school
Beardsley
Middle school
North Side
High school
Elkhart
Elementary school district
Elkhart Community Schools
Middle school district
Elkhart Community Schools
High school district
Elkhart Community Schools
Directions
Main Street to home.
Subdivision
Elkhart County
Standard status
Active
APN
20-06-05-127-002.000-012
Size
2,016 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
25
Tax Description
Beardsleys 4th 1rd N Side Lot165 S1/2 Lot 166 (Tif 155)
Legal Description
Beardsleys 4th 1rd N Side Lot165 S1/2 Lot 166 (Tif 155)
Utilities
Cooling system
Central Air
Amenities
fireplace
stacked washer/dryer
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate
Architectural style
Other
Listing Agency:
Keller Williams Realty Group
(574) 333-3972
Listed By:
Patricia Graham · License #RB14050077
(574) 536-6899
Added: Oct 8
Changed: Oct 12
Last Checked: Oct 13 at 2:06AM
MLS# 202642318
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.
Investment Insights
Based on property information with market context.
This 2,016-square-foot duplex, built in 1920, has two units with matching layouts: each offers two bedrooms, a kitchen, dining area, and living room. A fireplace serves the main-floor unit. The basement is accessible from inside that unit and through an exterior door, with space for laundry; the upper unit includes a stacked washer and dryer. A detached four-car garage is also on the property.
The roof was replaced in 2026, and siding and window wrap were updated in 2025. The central air conditioning and HVAC equipment are five years old, and each unit has its own water heater. One of the two units is currently rented. The parcel measures 0.17 acres.
The roof was replaced in 2026, and siding and window wrap were updated in 2025. The central air conditioning and HVAC equipment are five years old, and each unit has its own water heater. One of the two units is currently rented. The parcel measures 0.17 acres.
Key Highlights
- Two units, each with two bedrooms, a kitchen, dining area, and living room
- Detached four‑car garage
- 2,016 square feet on a 0.17‑acre parcel
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.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
653
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
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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 - Two separate living units each include a kitchen, dining area, and living room.
Where is this duplex located?
The property is located at 924 N Main Street 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 units, each with two bedrooms, a kitchen, dining area, and living room; Detached four‑car garage; 2,016 square feet on a 0.17‑acre parcel
