Seller's Agent in 2025
Kavita Patel
McKinnies Realty, LLC Elkhart
(574) 387-9959
1 in this area
11 Total Sales
704 Bower St Elkhart, IN 46514
Bower Neighborhood
2
Beds
4
Baths
4,256
Sq Ft
5,663
Sq Ft Lot
Highlights
- Forced Air Heating and Cooling System
- Community Storage Space
- 2-minute walk to Weston Park
- Level Lot
About This Home
As of July 2025Investor Opportunity – Prime Mixed-Use Potential! Exceptional value-add opportunity in the heart of Elkhart! This mixed-use property features a main-level commercial space—currently operating as a convenience store—which will be delivered vacant. All inventory, shelving, and refrigeration units will be removed prior to closing, allowing a flexible blank canvas for redevelopment into a restaurant, retail, office, or additional residential units. Upstairs, two fully leased apartments are already generating rental income, providing immediate cash flow for investors. Estimated monthly rental income: $750, with room for future increases. Whether you're looking to expand your rental portfolio, start a new business, or develop a mixed-use asset, this property offers strong potential for ROI.
Last Agent to Sell the Property
McKinnies Realty, LLC Elkhart Brokerage Phone: 574-387-9959 Listed on: 06/17/2025
Last Buyer's Agent
McKinnies Realty, LLC Elkhart Brokerage Phone: 574-387-9959 Listed on: 06/17/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,949
Year Built
- Built in 1930
Lot Details
- 5,663 Sq Ft Lot
- Level Lot
Parking
- 3 Parking Spaces
Home Design
- Triplex
- Brick Exterior Construction
Interior Spaces
- 2-Story Property
- Basement Fills Entire Space Under The House
- Laminate Countertops
Bedrooms and Bathrooms
- 2 Bedrooms
Schools
- Mary Daly Elementary School
- West Side Middle School
- Elkhart High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Gas Water Heater
- Cable TV Available
Listing and Financial Details
- Tenant pays for electric, water
- The owner pays for building insurance, trash collection
- Assessor Parcel Number 20-06-06-294-012.000-012
Community Details
Building Details
- 3 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Insurance Expense $3,500
- Maintenance Expense $1,000
- Water Sewer Expense $1,440
Additional Features
- 3 Units
- Community Storage Space
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 17, 2025
Closed on
Jul 18, 2025
Sold by
Iqbal Asif and Latif Rabia
Bought by
Molina Maria Silvia
Seller's Agent
Kavita Patel
McKinnies Realty, LLC Elkhart
Buyer's Agent
Kavita Patel
McKinnies Realty, LLC Elkhart
List Price
$180,000
Sold Price
$180,000
Views
35
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$2,542
Purchase Details
Closed on
Jul 15, 2014
Sold by
Ulery Herbert C
Bought by
Iqbal Asif and Latif Rabia
Purchase Details
Listed on
Jul 22, 2011
Closed on
Jan 26, 2012
Sold by
Ulery Herbert C
Bought by
Samdani Nayyar and Parekh Bela
Seller's Agent
Gay Lynn McKay
Realty Group Resources
Buyer's Agent
Dean Slabach
RE/MAX Results
List Price
$79,900
Sold Price
$59,000
Premium/Discount to List
-$20,900
-26.16%
Purchase Details
Closed on
Oct 4, 2008
Sold by
Ulery Herbert C
Bought by
Ulery Herbert C
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Contract Of Sale | $180,000 | None Listed On Document | |
| Warranty Deed | -- | None Available | |
| Contract Of Sale | -- | None Available | |
| Interfamily Deed Transfer | -- | Lawyers Title |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/18/2025 07/18/25 | Sold | $180,000 | 0.0% | $42 / Sq Ft | |
| 06/17/2025 06/17/25 | For Sale | $180,000 | +205.1% | $42 / Sq Ft | |
| 01/26/2012 01/26/12 | Sold | $59,000 | -26.2% | $21 / Sq Ft | View Prior Sale |
| 11/23/2011 11/23/11 | Pending | -- | -- | -- | |
| 07/22/2011 07/22/11 | For Sale | $79,900 | -- | $29 / Sq Ft |
Source: Indiana Regional MLS
Tax History Compared to Growth
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 | $3,026 | $110,400 | $17,200 | $93,200 |
| 2022 | $2,476 | $92,000 | $15,000 | $77,000 |
| 2021 | $2,307 | $86,000 | $15,000 | $71,000 |
| 2020 | $2,334 | $82,800 | $15,000 | $67,800 |
| 2019 | $2,222 | $79,000 | $15,000 | $64,000 |
| 2018 | $2,257 | $80,100 | $15,000 | $65,100 |
| 2017 | $1,656 | $58,800 | $5,900 | $52,900 |
| 2016 | $1,633 | $58,100 | $5,900 | $52,200 |
| 2014 | $1,541 | $55,700 | $5,900 | $49,800 |
| 2013 | $1,434 | $54,400 | $5,900 | $48,500 |
Source: Public Records
Agents Affiliated with this Home
-
Kavita Patel
-
G
Seller's Agent in 2012
Gay Lynn McKay
Realty Group Resources
-
D
Buyer's Agent in 2012
Dean Slabach
RE/MAX
Map
Source: Indiana Regional MLS
MLS Number: 202523053
APN: 20-06-06-294-012.000-012
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