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Property view

509 Prospect Street, 
Elkhart, IN 46514

$285,000


6

Beds


3

Baths


2,852

Sq Ft


Multi-Family

Sold

Listed by

Jennea Schirr, Cell: 574-215-9291

Mckinnies Realty, LLC. Elkhart

MLS#

202538768

Source:

Indiana Regional MLS

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About This Home

509 Prospect Street

*** Back on Market ... AT NO FAULT OF SELLER!!! *** This unique property offers two properties on one tax-key ... a spacious two-story duplex plus a charming single bungalow home. Each unit features 2 bedrooms and 1 full bath, for a total of three 2 bed 1 bath units, providing versatile living options for investors or owner-occupants. The main level of the duplex is already occupied by a long-term tenant of over 20 years, giving you immediate rental income! With properties in very good condition and minimal updates needed, you can move right in or start renting right away. Offering new windows, flooring, HVAC, cabinets and baths. Live in the bungalow while the duplex pays your mortgage, or rent all three units for a strong cash flow opportunity. A detached garage adds even more value and convenience. The bungalow is 2 bed 1 bath as well. This is truly a must-see to appreciate property ... don’t miss your chance to own such a rare and profitable find! Since the upper level and single unit have been rehabbed current owner has not had renters ... So we do not have expenses at this time and the ROI is figured at the rental prices shown for each unit and is a guesstimate. MLS#202541262 for bungalow. sqft is the two properties added together.

Home Facts

Multi-Family

3 Baths

6 Bedrooms

Built in 1880

Price Summary

299,900

$105 per Sq. Ft.

MLS #:

202538768

Sold:

March 19, 2026


Rooms & Interior

Bedrooms

Total Bedrooms:

6

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Interior

Living Area:

2,852 Sq. Ft.


Structure

Structure

Architectural Style:

Two Story

Building Area:

3,742 Sq. Ft.

Year Built:

1880


Lot

Lot Size (Sq. Ft):

9,845


Finances & Disclosures

Finances

Price:

$299,900

Price per Sq. Ft:

$105 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 2026 Indiana Regional MLS LLC.