507 Prospect Street, Elkhart, IN 46514

• 2 beds |
• 1 bath |
• 1,148 sqft

Property Description

This unique property features two separate residences on a single tax key: a charming single-story bungalow and a spacious two-story duplex. Each duplex unit offers two bedrooms and one full bath, providing flexible living arrangements for an owner-occupant or an investor seeking strong rental returns. The main level of the duplex is occupied by a long-term tenant of over 20 years, offering immediate, stable rental income. Both the upper duplex unit and the bungalow have been recently updated, meaning minimal work is needed before moving in or renting out. Updates include new windows, flooring, HVAC systems, cabinetry, and refreshed baths. Live in the bungalow while the duplex helps pay your mortgage, or rent out all three units for excellent cash flow potential. A detached garage adds even more convenience and value. This rare and profitable property is in very good condition and truly a must-see—don’t miss your chance to own such a versatile investment!

Listing Status:

Active

Date Added:

October 11, 2025 at 05:00AM

Listing Office:

McKinnies Realty, LLC Elkhart : 574-271-3440

Listing Agent:

Jennea Schirr : 574-215-9291

MLS ID:

202541262

Interior

• Basement: Unfinished
• A/C: None
• Heating: GasForced Air
• Fireplace: None

Exterior

• General: Vinyl
• Style: One Story

Location

• School District: Elkhart Community Schools

Lot

• Zoning: RIVERSIDE ADDITION LOT 16620-06-05-157-011.000-012

Utilities

• Water: City
• Sewer: City

This listing courtesy of Jennea Schirr, McKinnies Realty, LLC Elkhart