Listing courtesy of SUNRISE Realty · Listing agent: Michelle Bordeau · Cell: 574-339-8199
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1500 W Lexington Avenue
Elkhart, IN 46516
Original price $120,000 · Price reduced on August 20, 2026
- Basement
- Bedrooms
- 2
- Bathrooms
- 1
- Living area
- 866 sq ft
- Lot
- 0.28 ac
- Year built
- 1912
- Type
- Other
- Listed
- May 26, 2026
- MLS #
- 202620063
About this home
Tenant-occupied investment opportunity in Elkhart! This single-family home offers immediate rental income with an established tenant already in place. Property features spacious living areas, functional layout, and convenient location near shopping, schools, and major roadways. Great opportunity for investors looking to expand their portfolio or add a cash-flowing property. Please allow notice for showings due to tenant occupancy.
Monthly payment estimate
$866/mo
- Principal & interest
- $629
- Property taxes
- $203
- Homeowners insurance
- $34
- Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
- Taxes: the seller's 2025 bill as reported to the MLS. Yours may differ once your own deductions apply.
- Insurance: estimated at 0.35% of the price per year.
- An estimate, not a loan offer. Your rate and payment depend on your credit, loan program and down payment.
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Property details
Interior
- Levels
- One
- Stories
- 1
- Total area
- 1,490 sq ft
- Finished area above grade
- 866 sq ft
- Unfinished area below grade
- 624 sq ft
- Below grade total
- 624 sq ft
- Bedrooms above grade
- 2
- Basement
- Partial
- Flooring
- Vinyl
- Heating
- Natural Gas, Forced Air
- Cooling
- Central Air
- Amenities
- Off Street Parking, Porch Enclosed, Water Heater Gas, Washer Hook-Up
Exterior & parking
- Construction
- Vinyl Siding
- Private pool
- No
- Other structures
- Detached Garage
- Outbuilding 1
- 360 sq ft
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Level
- Lot size (acres)
- 0.28 ac
- Lot dimensions
- 82x146
- County
- Elkhart County
- Township
- Concord
- Platted
- Yes
- Planned unit development
- No
- Directions
- South on Nappanee, turn left on Lexington, house on the left
Schools
- Elementary school
- Mary Daly
- Middle school
- West Side
- High school
- Elkhart
- School district
- Elkhart Community Schools
Taxes & terms
- Annual taxes
- $2,438
- Tax year
- 2025
- Possession
- DOC
- Parcel number
- 20-06-06-378-004.000-012
Included in the sale
- Included in sale
- Lease
Utilities
- Water
- City
- Sewer
- Public Sewer
Income & commercial
- Units
- 1
- Annual gross rent
- $12,000
- Net operating income
- $6,462
- Lease term
- 12 Months
- Parking spaces
- 4
- Pets allowed
- No
- Tenant pays
- Cable TV, Cooling, Electricity, Heat, Lawn Care, Sewer, Snow Removal, Water
- Electric meters
- 1
- Gas meters
- 1
- Water meters
- 1
- Insurance (annual)
- $700
- Maintenance (annual)
- $1,200
Location
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