542 W 4th St Mishawaka, IN 46544
Estimated payment $1,561/month
Highlights
- Traditional Architecture
- Luxury Vinyl Tile Flooring
- Level Lot
- Covered Patio or Porch
- Forced Air Heating and Cooling System
About This Home
Tri-Plex Investment Opportunity – Fully Rented with Instant Income! Well-maintained multi-unit property offering three income-generating residences. One spacious unit features 3 bedrooms and 1 bath, another unit includes 1 bedroom and 1 bath, and the third is a studio with 1 bath. All units are currently rented, providing immediate cash flow. Property highlights include a welcoming covered front porch, a partial basement for storage, and excellent upkeep throughout. Conveniently located close to shopping, restaurants, the Riverwalk, and local parks—making it attractive to tenants and a smart addition to any investment portfolio.
Listing Agent
Cressy & Everett - South Bend Brokerage Phone: 574-292-5096 Listed on: 09/02/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,075
Year Built
- Built in 1902
Lot Details
- 5,016 Sq Ft Lot
- Lot Dimensions are 38x132
- Level Lot
Parking
- On-Street Parking
Home Design
- Triplex
- Traditional Architecture
- Shingle Roof
Interior Spaces
- 2-Story Property
- Laminate Countertops
- Washer Hookup
Flooring
- Carpet
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Full Bathrooms
Partially Finished Basement
- Michigan Basement
- Block Basement Construction
Schools
- Lasalle Elementary School
- John Young Middle School
- Mishawaka High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Gas Water Heater
Additional Features
- Covered Patio or Porch
- Suburban Location
Listing and Financial Details
- Assessor Parcel Number 71-09-16-186-013.000-023
Community Details
Overview
- 3 Units
Building Details
- Electric Expense $3,500
- Fuel Expense $1,300
- Insurance Expense $3,900
- Maintenance Expense $309
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,691 | $131,500 | $15,400 | $116,100 |
| 2023 | $1,978 | $113,700 | $15,400 | $98,300 |
| 2022 | $1,978 | $84,300 | $6,800 | $77,500 |
| 2021 | $1,845 | $78,700 | $7,500 | $71,200 |
| 2020 | $2,016 | $85,700 | $8,300 | $77,400 |
| 2019 | $1,935 | $81,900 | $7,900 | $74,000 |
| 2018 | $2,266 | $77,300 | $7,500 | $69,800 |
| 2017 | $2,408 | $76,300 | $7,500 | $68,800 |
| 2016 | $2,184 | $72,400 | $7,500 | $64,900 |
| 2014 | $1,912 | $71,500 | $7,500 | $64,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/06/2025 11/06/25 | Price Changed | $248,000 | -4.1% | $147 / Sq Ft | |
| 09/02/2025 09/02/25 | For Sale | $258,500 | +38.2% | $153 / Sq Ft | |
| 06/06/2022 06/06/22 | Sold | $187,000 | -6.0% | $111 / Sq Ft | View Prior Sale |
| 04/27/2022 04/27/22 | Pending | -- | -- | -- | |
| 03/02/2022 03/02/22 | For Sale | $199,000 | -- | $118 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $374,000 | Metropolitan Title | |
| Warranty Deed | -- | Near North Title Group | |
| Warranty Deed | $122,000 | Near North Title Group |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $149,600 | New Conventional |
Source: Indiana Regional MLS
MLS Number: 202535131
APN: 71-09-16-186-013.000-023
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