322 W Mitchell Street

Kendallville, IN

$199,900

322 W Mitchell Street, Kendallville, IN 46755-1622

Kendallville, IN 46755-1622

MLS# IRM202638905

Listed 2 days ago

4 Beds
2 Baths
1,882 Sq. Ft.

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.

Property Details

Type
Multi-Family
Year Built
1960
Lot Size
0.17 acres
Listed
2 days ago
County
Noble County
Listing Office
Trueblood Real Estate, LLC.

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Estimate principal and interest for this listing.

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$1,011/mo

Principal & interest
$1,011
Loan amount
$159,920

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Listed by Trueblood Real Estate, LLC.. Contact Cell: 260-267-8220.

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Indiana Regional MLSMIBOR Broker Listing Cooperative

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IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed accurate by the Broker Listing Cooperative® listing service.

Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID

IDX information is provided exclusively for consumers' personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the Broker Listing Cooperative listing service as of September 26, 2026 at 4:01 AM EDT. All data is obtained from various sources and may not have been verified by broker or Broker Listing Cooperative listing service. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Based on information submitted to the MLS GRID as of September 26, 2026 at 4:01 AM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.