About 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!
Features of 507 Prospect Street
| MLS® # | 202541262 |
|---|---|
| Price | $339,900 |
| Bedrooms | 2 |
| Bathrooms | 1.00 |
| Full Baths | 1 |
| Square Footage | 784 |
| Acres | 0.23 |
| Year Built | 1880 |
| Type | Residential |
| Sub-Type | Site-Built Home |
| Status | Active |
Community Information
| Address | 507 Prospect Street |
|---|---|
| Subdivision | None |
| City | Elkhart |
| County | Elkhart County |
| State | IN |
| Zip Code | 46514 |
Amenities
| Features | Cable Available, Countertops-Laminate, Eat-In Kitchen |
|---|---|
| # of Garages | 1 |
| Garages | Detached |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Gas, Forced Air |
|---|---|
| Cooling | None |
| Fireplace | No |
| Fireplaces | None |
| Stories | One Story |
| Has Basement | Yes |
| Basement | Unfinished |
Exterior
| Exterior | Vinyl |
|---|---|
| Lot Description | Level |
| Construction | No |
School Information
| District | Elkhart Community Schools |
|---|---|
| Elementary | Beardsley |
| Middle | North Side |
| High | Elkhart |
Additional Information
| Days on Market | 7 |
|---|---|
| Foreclosure | No |
| RE / Bank Owned | No |
| HOA Fees Freq. | Not Applicable |
Listing Details
| Agent | Jennea Schirr |
|---|---|
| Office | McKinnies Realty, LLC Elkhart |
| Contact Info | Cell: 574-215-9291 |