Asking $125,000 | Estimated ARV $200,000 | Potential Rent $2,000/Month

Looking for a value-add multifamily investment in Mishawaka?

This vacant duplex offers an opportunity to acquire two rental units, improve their functionality, and potentially generate approximately $2,000/month in combined rental income after renovations and stabilization.

With an attractive acquisition price and room to improve both units, this property could be an interesting opportunity for an experienced investor willing to tackle a more involved renovation.

Property Snapshot

• Property Type: Duplex | 2 Units

• Occupancy: Vacant

• Unit 1 (Downstairs): 1 Bedroom | 1 Bathroom (potential 2nd bedroom)

• Unit 2 (Upstairs): 2 Bedrooms | 1 Bathroom (layout needs improvement)

• Asking Price: $125,000

• Estimated ARV: ~$200,000

• Estimated Rehab: $50,000–$60,000

• Estimated Market Rent: ~$1,000 per unit/month

• Combined Rent Potential: ~$2,000/month

Investment Opportunity

Multifamily Buy & Hold: With two units potentially renting for approximately $1,000/month each, this property could generate $24,000 in annual gross rental income once renovated and stabilized.

Value-Add Potential: Both units present opportunities to improve functionality and rental appeal. The downstairs unit could potentially gain a second bedroom, while the upstairs unit would benefit from addressing its lack of dedicated living space.

Equity Potential: With an estimated $200K ARV and projected purchase-plus-rehab investment of $175K–$185K, the property offers a preliminary $15K–$25K equity spread before financing, carrying costs, closing expenses, and contingencies.

Repairs & Important Considerations

This property will require more than a cosmetic refresh.

Anticipated improvements and concerns include:

• Downstairs Unit: Currently configured as 1 bedroom and 1 bathroom, with potential for a second bedroom

• Access: Downstairs unit is accessible only from the rear of the property

• Upstairs Unit: Configured as 2 bedrooms and 1 bathroom but lacks a dedicated living area

• Odors: Strong cat urine and cigarette odors requiring remediation

• Water Damage: Present in the upstairs unit

• Pest Activity: Signs of pest activity should be investigated and addressed

• Layout Improvements: Both units may require functional changes to improve rental appeal

Estimated Purchase + Rehab: $175,000–$185,000, before financing, closing costs, carrying costs, and contingencies.

Buyers should verify the legal unit configurations, renovation feasibility, and final scope of work before purchasing.

Best Suited For

• Experienced multifamily investors

• Buy-and-hold investors seeking two rental income streams

• Value-add investors comfortable reconfiguring interior layouts

• Investors experienced with odor remediation, water damage, and pest-related repairs

• Buyers looking to acquire and stabilize a duplex in Mishawaka

Photos & Property Report

Property Gallery:
https://app.companycam.com/galleries/6y7KTeLX

Property Report:
https://companycam-attachments-prod-us-east-1.s3.amazonaws.com/isqwwv648vt5cflwa77wfwduebf9

Interested in learning more? Send me a message to discuss the opportunity.

Libby Riggs
Director of Business Development | AssetVia.ai

Taking the fear out of out-of-state investing through AI-powered deal analysis, vetted local teams, and access to off-market opportunities.

All ARVs, rent projections, repair estimates, and investment calculations are preliminary and subject to independent buyer verification.