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507 Prospect Street, 
Elkhart, IN 46514

$339,900


2

Beds


1

Bath


784

Sq Ft


Single Family


Virtual Tour

Active

Listed by

Jennea Schirr

Mckinnies Realty, LLC. Elkhart

Cell: 574-215-9291

Last updated:

October 11, 2025, 05:44 PM

MLS#

202541262

Source:

Indiana Regional MLS

About This Home

507 Prospect Street

This unique property features two separate residences on a single tax key: a charming single-story bungalow and a spacious two-story duplex. Each duplex unit offers two bedrooms and one full bath, providing flexible living arrangements for an owner-occupant or an investor seeking strong rental returns. The main level of the duplex is occupied by a long-term tenant of over 20 years, offering immediate, stable rental income. Both the upper duplex unit and the bungalow have been recently updated, meaning minimal work is needed before moving in or renting out. Updates include new windows, flooring, HVAC systems, cabinetry, and refreshed baths. Live in the bungalow while the duplex helps pay your mortgage, or rent out all three units for excellent cash flow potential. A detached garage adds even more convenience and value. This rare and profitable property is in very good condition and truly a must-see—don’t miss your chance to own such a versatile investment!

Home Facts

Single Family

1 Bath

2 Bedrooms

Built in 1880

Price Summary

339,900

$433 per Sq. Ft.

MLS #:

202541262

Last Updated:

October 11, 2025, 05:44 PM

Added:

6 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

2

Bathrooms

Total Bathrooms:

1

Full Bathrooms:

1

Interior

Living Area:

784 Sq. Ft.


Structure

Structure

Architectural Style:

One Story

Building Area:

1,148 Sq. Ft.

Year Built:

1880


Lot

Lot Size (Sq. Ft):

9,845


Finances & Disclosures

Finances

Price:

$339,900

Price per Sq. Ft:

$433 per Sq. Ft.

Source:Indiana Regional MLS
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 2025 Indiana Regional MLS LLC.

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