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507 Prospect Street, Elkhart, IN 46514

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For Sale

$339,900

2 beds • 1 baths • 784 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Single Family Detached
    Property type

  • $433.55
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

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!
MLS# 202541262

Courtesy Of McKinnies Realty, LLC

(574) 271-3440

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Cable Ready
  • Appliances
    Range, Range - Electric
  • Architecture Style
    Other
  • Heating System
    Forced Air
  • Lot Size
    0.23 Acres
  • Rooms
    Basement

Map and Directions

Directions to 507 Prospect Street, Elkhart, IN 46514

Home seller CENTURY 21 Circle

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Circle

(574) 293-2121
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Monthly Payment Breakdown

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Copyright © 2025 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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. Information being provided is 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.