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Courtesy of Trueblood Real Estate, LLC., Richard Rutledge, Cell: 260-267-8220
4 Beds
2 Baths
1,882 sqft

$199,900

322 W Mitchell Street, Kendallville IN, 46755-1622

Price per sqft$106.22
Built in1960
Property size1,882 sqft
Property typeMulti-family

Overview

Active

Updated 12 days ago

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.

$1,330/mo

Est. mortgage payment based on a $199,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
202638905

Interior Features

Bedrooms
4
Bathrooms
2
Cooling
Yes
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.17 Acres

Other Property Details

Taxes
$2,879
Tax Frequency
Annually
Maintenance Expense
$500
Pets Allowed
Yes
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Listings courtesy of Indiana Regional MLS as distributed by MLS GRID 

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Data last updated 12:34 AM UTC, 9/28/2026

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