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Jeff Foster

jefffoster730@gmail.com +1(574) 993-5333

Listed by Trueblood Real Estate, LLC.

$ 199,900

Est. payment | -/mo

4 Beds

2 Baths

1,882 SqFt

Save

$ 199,900

Est. payment | -/mo

Save

4 Beds

2 Baths

1,882 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,882 sqft

MLS Listing ID IRM202638905

Style Traditional

Bedrooms 4

Full Baths 2

HOA Y/N No

Year Built 1960

Annual Tax Amount $2,879

Tax Year 2026

Lot Size 7,405 Sqft

Acres 0.17

Lot Dimensions 99X76

Property Sub-Type Duplex

Property Description

Investor opportunity in the heart of Kendallville! This fully leased duplex delivers strong, immediate cash flow with $20,065 in annual gross rental income and a desirable 10% cap rate. Both units are secured with leases extending through October 1, 2027, providing an established income stream for the next owner. Unit #1 tenants pay their own electric and gas, while the owner pays water and trash; the owner currently covers all utilities for Unit 2 that is fully furnished and leased for $1400/mo. Situated on a desirable corner lot, the property offers plenty of off-street parking plus additional street parking. Located just blocks from downtown Kendallville, tenants enjoy convenient access to local shopping, restaurants, and downtown amenities. With both units occupied, long-term leases in place, and a strong 10% cap rate, this property offers an attractive addition to any investment portfolio. 48 hour tenant notice is required for all showings. All of the furniture in unit #2 is provided by the owner, and it does convey with the property.

Location

State IN

County Noble County

Rooms

Basement Crawl Space, Unfinished

Interior

Heating Gas, Forced Air

Inclusions Building, Land, Lease

Fireplace N

Exterior

Parking Features Gravel, Off Street, On Street

Fence None

Waterfront Description None

View Y/N true

Total Parking Spaces 4

Building

Lot Description Corner Lot

Story Two

Sewer Public Sewer

Water City

Level or Stories Two

New Construction No

Schools

Elementary Schools South Side

Middle Schools East Noble

High Schools East Noble

School District East Noble Schools

Others

Pets Allowed No

Tax ID 57-07-33-340-149.000-020

Monthly Total Fees $500

Acceptable Financing IRM202638905

Listing Terms IRM202638905

Special Listing Condition None

Pets Allowed Yes

Schools and Properties Nearby

322 W Mitchell ST Kendallville, IN 46755-1622

Jeff Foster

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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322 W Mitchell ST