$339,900

509 Prospect Street, Elkhart, IN 46514

  • 4 beds |
  • 2 baths |
  • 2,594 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1880
  • Property Lot Size Icon10,019sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $131/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

This unique property offers two properties on one tax-key ... a spacious two-story duplex plus a charming single bungalow home. Each unit features 2 bedrooms and 1 full bath, providing versatile living options for investors or owner-occupants. The main level of the duplex is already occupied by a long-term tenant of over 20 years, giving you immediate rental income! With properties in very good condition and minimal updates needed, you can move right in or start renting right away. Offering new windows, flooring, HVAC, cabinets and baths. Live in the bungalow while the duplex pays your mortgage, or rent all three units for a strong cash flow opportunity. A detached garage adds even more value and convenience. This is truly a must-see to appreciate property ... don’t miss your chance to own such a rare and profitable find! Since the upper level and single unit have been rehabbed current owner has not had renters ... So we do not have expenses at this time and the ROI is figured at the rental prices shown for each unit and is a guesstimate.

Listing Status:
Active
Date Added:
September 24, 2025 at 05:00AM
Listing Office:
McKinnies Realty, LLC Elkhart : 574-271-3440
Listing Agent:
Jennea Schirr : 574-215-9291
MLS ID:
202538768
  • Basement: Partial BasementUnfinished
  • Flooring: CarpetLaminateVinyl TileWood
  • A/C: None
  • Heating: GasForced Air
  • General: Vinyl
  • Style: Two Story
  • Other Structures: None
  • Parking: Parking spaces: 4
  • School District: Elkhart Community Schools
  • Zoning: RIVERSIDE ADDITION LOT 16620-06-05-157-011.000-012

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

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

B

Beardsley Elementary School

1027 McPherson St, Elkhart, IN, 46514

Grades KG-6

1.20 miles away

N

North Side Middle School

300 Lawrence St, Elkhart, IN, 46514

Grades 7-8

0.94 miles away

E

Elkhart Area Career Center

2424 California Rd, Elkhart, IN, 46514

Grades PK-11

1.42 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.