Listing courtesy of Trueblood Real Estate, LLC. · Listing agent: Richard Rutledge · Cell: 260-267-8220
322 W Mitchell Street
Kendallville, IN 46755-1622
- Basement
- Energy efficient
- Bedrooms
- 4
- Bathrooms
- 2
- Living area
- 1,882 sq ft
- Lot
- 0.17 ac
- Year built
- 1960
- Type
- Duplex
- Listed
- September 18, 2026
- MLS #
- 202638905
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.
Monthly payment estimate
$1,392/mo
- Principal & interest
- $1,094
- Property taxes
- $240
- Homeowners insurance
- $58
- Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
- Taxes: the seller's 2026 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
- Two
- Stories
- 2
- Total area
- 2,386 sq ft
- Finished area above grade
- 1,882 sq ft
- Unfinished area below grade
- 504 sq ft
- Main level
- 1,378 sq ft
- Upper level
- 504 sq ft
- Below grade total
- 504 sq ft
- Bedrooms above grade
- 4
- Basement
- Crawl Space, Unfinished
- Flooring
- Carpet, Laminate
- Heating
- Natural Gas, Forced Air
- Cooling
- Window Unit(s)
- Amenities
- Basement, Ceiling Fan, Countertops-Laminate, Deck Open, Water Heater Gas, Washer Hook-Up
Exterior & parking
- Style
- Traditional
- Construction
- Vinyl Siding
- Roof
- Asphalt, Shingle
- Foundation
- Stone
- Parking
- Gravel, Off Street, On Street
- Private pool
- No
- New construction
- No
- Energy-efficient features
- HVAC, Roof, Water Heater
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Corner Lot
- Lot size (acres)
- 0.17 ac
- Lot dimensions
- 99X76
- Location type
- City/Town/Suburb
- County
- Noble County
- Township
- Wayne
- Lots
- 306
- Platted
- Yes
- Planned unit development
- No
- Directions
- Traveling North on S Main St take a left on to West Mitchell St, Property will be on your right with parking out front.
Schools
- Elementary school
- South Side
- Middle school
- East Noble
- High school
- East Noble
- School district
- East Noble Schools
HOA & community
- Association restrictions
- No
Taxes & terms
- Annual taxes
- $2,879
- Tax year
- 2026
- Tax exemptions
- No Exemptions
- Listing terms
- Cash, Conventional
- Possession
- Closing
- Parcel number
- 57-07-33-340-149.000-020
Included in the sale
- Included in sale
- Building,Land,Lease
Utilities
- Water
- City
- Sewer
- Public Sewer
- Electric provider
- AEP/I&M
- Gas provider
- NIPSCO
Income & commercial
- Units
- 2
- Annual gross rent
- $27,720
- Net operating income
- $20,111
- Lease term
- 12 Months
- Parking spaces
- 4
- Pets allowed
- Yes
- Tenant pays
- Electricity, Fuel, Heat
- Electric meters
- 2
- Gas meters
- 2
- Water meters
- 1
- Insurance (annual)
- $1,400
- Water & sewer (annual)
- $939
- Electric (annual)
- $1,350
- Fuel (annual)
- $540
- Maintenance (annual)
- $500
Location
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