322 W Mitchell Street, Kendallville, IN 46755

Kendallville
Local realty services provided by:ERA Crossroads
322 W Mitchell Street,Kendallville, IN 46755
$199,900
Virtual Tour
  • 4 Beds
  • 2 Baths
  • 1,882 sq. ft.
  • Multi-family
  • Pending
Listed by: richard rutledge, richard rutledgeCell: 260-267-8220
Office: trueblood real estate, llc.
MLS#:202638905
Source:Indiana Regional MLS

Price summary

  • Price:$199,900
  • Price per sq. ft.:$83.78

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...

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Home facts

  • Year built:1960
  • Subdivision & Development:None
  • Listing ID #:202638905
  • Added:55 day(s) ago
  • Updated:November 13, 2026 at 09:27 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:2
  • Full bathrooms:2
  • Flooring:Carpet, Laminate
  • Basement Description:Crawl, Unfinished
  • Living area:1,882 sq. ft.

Heating and cooling

  • Cooling:Window
  • Heating:Forced Air, Gas

Structure and exterior

  • Roof:Asphalt, Shingle
  • Year built:1960
  • Building area:1,882 sq. ft.
  • Lot area:0.17 Acres
  • Lot Features:Corner
  • Architectural Style:Traditional, Two Story
  • Construction Materials:Vinyl
  • Exterior Features:Deck Open
  • Levels:2 Stories

Schools

  • High school:East Noble
  • Middle school:East Noble
  • Elementary school:South Side

Utilities

  • Water:City
  • Sewer:City

Finances and disclosures

  • Price:$199,900
  • Price per sq. ft.:$83.78
  • Tax amount:$1,400

Features and amenities

  • Laundry features:Washer Hook-Up
  • Amenities:Ceiling Fan, Countertops-Laminate, Water Heater Gas

Parking

  • Parking description:Gravel Driveway, Gravel Parking, Off Street Parking, Street Parking
  • Garage spaces:1
IRMLS information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IRMLS Data is deemed reliable but is not guaranteed accurate by the MLS. IRMLS information provided by the Indiana Regional MLS. Copyright 2026 Indiana Regional MLS LLC.

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