322 W Mitchell St Kendallville, IN 46755
Kendallville AreaEstimated payment $1,369/month
Highlights
- Traditional Architecture
- Laundry in Utility Room
- Ceiling Fan
- Corner Lot
- Forced Air Heating System
- ENERGY STAR/Reflective Roof
About This Home
Investor opportunity in the heart of Kendallville! This fully leased duplex delivers strong, immediate cash flow with $20,111 in NET annual gross rental income after expenses, 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.
Listing Agent
Trueblood Real Estate, LLC. Brokerage Phone: 260-267-8220 Listed on: 09/18/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,879
Year Built
- Built in 1960
Lot Details
- 7,536 Sq Ft Lot
- Lot Dimensions are 99x76
- Corner Lot
Home Design
- Duplex
- Traditional Architecture
- Shingle Roof
- Asphalt Roof
- Vinyl Construction Material
Interior Spaces
- 2-Story Property
- Ceiling Fan
- Laminate Countertops
Flooring
- Carpet
- Laminate
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Full Bathrooms
Laundry
- Laundry in Utility Room
- Washer Hookup
Unfinished Basement
- Stone or Rock in Basement
- Crawl Space
Parking
- 4 Parking Spaces
- Gravel Driveway
- On-Street Parking
- Off-Street Parking
Eco-Friendly Details
- Energy-Efficient HVAC
- ENERGY STAR/Reflective Roof
Location
- Suburban Location
Schools
- South Side Elementary School
- East Noble Middle School
- East Noble High School
Utilities
- Window Unit Cooling System
- Forced Air Heating System
- Heating System Uses Gas
- ENERGY STAR Qualified Water Heater
- Gas Water Heater
Listing and Financial Details
- The owner pays for electric, heating, tax, trash collection, water
- Assessor Parcel Number 57-07-33-340-149.000-020
Community Details
Overview
- 2 Units
Pet Policy
- Pets Allowed with Restrictions
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,351
- Fuel Expense $540
- Insurance Expense $1,400
- Maintenance Expense $500
- Water Sewer Expense $984
Map
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/18/2026 09/18/26 | For Sale | $199,900 | -- | $106 / Sq Ft |
Source: Indiana Regional MLS
MLS Number: 202638905
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Based on information submitted to the MLS GRID
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Ask me questions while you tour the home.