501 W Lawrence St Mishawaka, IN 46545
Estimated payment $1,136/month
Total Views
6,311
2
Beds
2
Baths
1,600
Sq Ft
$109
Price per Sq Ft
Highlights
- Corner Lot
- Eat-In Kitchen
- Double Pane Windows
- Enclosed Patio or Porch
- Storm Windows
- 5-minute walk to Battell Park
About This Home
"Investor Alert! Don't miss this incredible opportunity to expand your portfolio with a solid income-producing property in a prime Mishawaka location at 501 W. Lawrence. Zoned for multi-family use! This duplex boasts generously sized units that tenants love! Separate utilities (excluding water/trash) - but currently the utilities are included in the rent and owner pays. Enjoy low vacancy rates thanks to its highly desirable location near universities, the scenic River Walk, Parks, and convenient access to shopping, dining, entertainment, and excellent schools. This is more than just a property; it's a smart investment in a thriving community with strong property values. Both units are occupied - immediate cash flow! Both tenants have rented the property for multiple years. They are both on month to month leases. There are 2 furnaces and 2 window A/C units. One of the owners is a licensed real estate agent.
Listing Agent
McKinnies Realty, LLC Brokerage Phone: 574-274-8275 Listed on: 07/18/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,282
Year Built
- Built in 1904
Lot Details
- 3,828 Sq Ft Lot
- Lot Dimensions are 33x116
- Corner Lot
- Level Lot
Parking
- On-Street Parking
Home Design
- Duplex
- Converted Dwelling
- Brick Foundation
- Shingle Roof
- Asphalt Roof
- Vinyl Construction Material
Interior Spaces
- 1.5-Story Property
- Double Pane Windows
- Storage In Attic
- Washer Hookup
Kitchen
- Eat-In Kitchen
- Laminate Countertops
Flooring
- Carpet
- Laminate
- Ceramic Tile
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Full Bathrooms
Partially Finished Basement
- Exterior Basement Entry
- Block Basement Construction
- Crawl Space
Home Security
- Storm Windows
- Storm Doors
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Schools
- Battell Elementary School
- John Young Middle School
- Mishawaka High School
Utilities
- Multiple cooling system units
- Window Unit Cooling System
- Multiple Heating Units
- Forced Air Heating System
- Heating System Uses Gas
- Gas Water Heater
- Cable TV Available
Additional Features
- Enclosed Patio or Porch
- Suburban Location
Listing and Financial Details
- The owner pays for cooling, electric, fuel, heating, lawn maintenance, maintenance, sewer, snow removal, tax, trash collection, water
- Assessor Parcel Number 71-09-09-383-010.000-023
- Seller Concessions Not Offered
Community Details
Overview
- 2 Units
- Lawrence & Battells Subdivision
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $966
- Fuel Expense $1,051
- Insurance Expense $852
- Maintenance Expense $980
- Water Sewer Expense $1,566
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,678 | $97,600 | $15,800 | $81,800 |
| 2023 | $1,677 | $71,500 | $5,300 | $66,200 |
| 2022 | $1,677 | $71,500 | $5,300 | $66,200 |
| 2021 | $1,587 | $67,300 | $6,600 | $60,700 |
| 2020 | $1,334 | $68,500 | $8,200 | $60,300 |
| 2019 | $1,378 | $58,000 | $7,000 | $51,000 |
| 2018 | $1,737 | $58,500 | $7,000 | $51,500 |
| 2017 | $1,851 | $70,500 | $7,000 | $63,500 |
| 2016 | $1,790 | $58,500 | $5,800 | $52,700 |
| 2014 | $1,503 | $55,600 | $6,600 | $49,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/08/2025 09/08/25 | Pending | -- | -- | -- |
| 07/18/2025 07/18/25 | For Sale | $175,000 | -- | $109 / Sq Ft |
Source: Indiana Regional MLS
Similar Home in Mishawaka, IN
Source: Indiana Regional MLS
MLS Number: 202528180
APN: 71-09-09-383-010.000-023
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