322 W Mitchell St, Kendallville, IN 46755-1622
- $199,900
- 4
- BD
- 2
- BA
- 1,882
- SqFt
Listing courtesy of Richard Rutledge from Trueblood Real Estate, LLC.. Cell: 260-267-8220
- List Price
- $199,900
- Status
- ACTIVE
- MLS#
- 202638905
- Style
- Traditional
- Year Built
- 1960
- Days On Market
- Unknown
- Bedrooms
- 4
- Bathrooms
- 2
- Living Area
- 1,882
- Township
- Wayne
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.
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Additional Information
- Acres
- 0.17
- Taxes
- $2,879
- Lot Features
- Corner Lot
- Water
- City
- Heating
- Natural Gas, Forced Air
- Cooling
- Window/Wall
- Flooring
- Carpet, Laminate
- School District
- East Noble Schools
- Elementary School
- South Side
- Middle School
- East Noble
- High School
- East Noble
- Agent Name
- Richard Rutledge
Listings courtesy of Indiana Regional MLS as distributed by MLS GRID. 