$400,000
328 N State Street
Investment Opportunity – Cash-Flowing 5-Plex in Kendallville! This purpose-built 5-unit property offers over 4,000 sq. ft. and has strong cash flow potential with room to raise rents. Having all units rented, this 5 plex brings in $4,200/month. Each unit is separately metered with split utilities, individual water heaters, and two units even have their own gas meters. Recent updates include a newer metal roof, vinyl siding, and updated water heaters. Tenants enjoy ample off-street parking and a convenient location close to schools, shopping, and downtown Kendallville. This is a rare chance to own a true multi-family income property with tenants already in place. Whether you’re looking to expand your portfolio or step into investment real estate with a strong performer, this 5-plex is the one to see!
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Map to 328 N State Street, Kendallville, IN 46755
MLS #
202540110
Date Listed
2025-10-03
Status
Active
Property Type
Investment
Property SubType
Fiveplex
Finished Square Feet
4078 sqft
Total Square Feet
6478 sqft
New Construction
No
Style
Two Story
Type
Fiveplex
Basement
Yes
Bedrooms
12
Bathrooms
5
Annual Taxes
$4,980.00
Year Taxes Payable
2025
Year Built
1870
Virtual Tour
propertypanorama.com »
Days on Market
2
Room Dimensions
Living Room
3 × 2
Level
Family Room
825 × 900
Level
Kitchen
775 × 795
Level
5th Bedroom
5 × 5
Level
Bathroom Locations
Full Baths
12 Main
External Features
Construction
Fiveplex
Lot Size
10,890 sq ft
Acreage
0.25 Acres
Lot Dimensions
66x166
Fence
None
Location
Area
Noble County
County
Noble
Subdivision
None
Township
Wayne
City
Kendallville
State
IN
Zip
46755
Schools
School District
East Noble Schools
Elementary
North Side
Middle School
East Noble
High School
East Noble
Financial
Assoc. Dues
$0.00 Not Applicable
| MLS # | 202540110 |
|---|---|
| Date Listed | 2025-10-03 |
| Status | Active |
| Property Type | Investment |
| Property SubType | Fiveplex |
| Finished Square Feet | 4078 sqft |
| Total Square Feet | 6478 sqft |
| New Construction | No |
| Style | Two Story |
| Type | Fiveplex |
| Basement | Yes |
| Bedrooms | 12 |
| Bathrooms | 5 |
| Annual Taxes | $4,980.00 |
| Year Taxes Payable | 2025 |
| Year Built | 1870 |
| Virtual Tour | propertypanorama.com » |
| Days on Market | 2 |
| Living Room | 3 × 2 | Level |
| Family Room | 825 × 900 | Level |
| Kitchen | 775 × 795 | Level |
| 5th Bedroom | 5 × 5 | Level |
| Full Baths | 12 Main |
| Construction | Fiveplex |
|---|---|
| Lot Size | 10,890 sq ft |
| Acreage | 0.25 Acres |
| Lot Dimensions | 66x166 |
| Fence | None |
| Area | Noble County |
|---|---|
| County | Noble |
| Subdivision | None |
| Township | Wayne |
| City | Kendallville |
| State | IN |
| Zip | 46755 |
| School District | East Noble Schools |
|---|---|
| Elementary | North Side |
| Middle School | East Noble |
| High School | East Noble |
| Assoc. Dues | $0.00 Not Applicable |
|---|
MLS# 202540110
IDX information provided by the Indiana Regional MLS.
IDX 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. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listing Provided Courtesy of Nicole Schnurr
Open Door Rentals and Real Estate
Listing updated October 4, 2025 at 9:30 am
Last checked 5 minutes ago
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