507 Prospect Street Elkhart, IN $ 339,900
507 Prospect Street
$ 339,900
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507 Prospect Street

Elkhart, IN, 46514
$ 339,900
Bedrooms2 Baths1.0 Sq 2,852

Monthly Estimate*

$ 2,121

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Single Family Home for sale in Elkhart, IN

for $339,900 with 2 bedrooms and 1 full bath. This 2,852 square foot home was built in 1880 on a lot size of 0.23.

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, total of three 2 bed 1 bath units, 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-seedont miss your chance to own such a versatile investment! 509 prospect is listed as MLS#202538768 sqft is the three units combined. The bungalow is 784 sqft above and 364 sqft below

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Single Family Active

Price

$ 339,900

Bedrooms

2

Full Bath

1

Property Type

Single Family

Taxes

$ 1,072

Style

Site-Built Home

Lot Size

0.23

Year Built

1880

Town/City

Elkhart

County/Region

Elkhart

MLS | Web ID

202541262

Features
General
Sewer City
Heating Gas Forced Air
Cooling None
Laundry Y/N Basement
Fireplaces No
Garage Detached
Amenities Cable Available Countertops-Laminate Eat-In Kitchen
Status Active Active
Full Baths 1
Half Baths 0
Bathrooms 1
Year Built 1880
New Construction No
Subdivision None
Style One Story
Township Concord
Class RESIDENTIAL
Type Site-Built Home
Age 145
REO No
Status Detail 0
Area Elkhart County
High School Elkhart
City Elkhart
School District Elkhart Community Schools
Total Sq Ft 3742
Elementary School Beardsley
Middle School North Side
Legal Description RIVERSIDE ADDITION LOT 166
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202541262
Agent First Name Jennea
Agent Last Name Schirr
DOM 66
Tax Year 2025
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Interior
Basement Unfinished
Beds 2
Total Rooms 4
Fireplace None
Full Baths Main 1
Full Baths Upper 0
Above Grade Bedrooms 2
Below Grade Baths 0
Below Grade Bedrooms 0
Full Baths Below Grade 0
Half Baths Below Grade 0
Half Baths Main 0
Half Baths Upper 0
1st Bedroom Level Main
1st Bedroom Width 12
2nd Bedroom Length 12
2nd Bedroom Level Main
2nd Bedroom Width 12
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Exterior
Exterior Vinyl
Pool No
Garage Length 20
Garage Width 10
Lot Size Area 9845
Lot Dimensions 66X149
Lot Description Level
Water Features None
Garage Capacity 1
Waterfront Y/N No
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* Excluded Features
List By
Jennea Schirr

Listing Agent

Mckinnies Realty, Llc Elkhart

Broker

devotedagent@gmail.com

Email

Affordability Calculator

$2,210
Per Month
96%
4%
0%
Monthly Principal & Interest
$2,121
Monthly Property Taxes
$89
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% 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. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1236791 Elementary School
1236486 Middle School
Elkhart High School High School
Pricing History
DatePricePrice ChangeDescription
10/11/2025$339,900 -2.86% Price Down
10/11/2025$349,900 Listed Price

Map


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507 Prospect Street, Elkhart, IN, 46514 is a Single Family Home for sale at $339,900 with 2,852 sqft and a lot size of 0.23. 507 Prospect Street has 2 bedrooms, 1.0 baths, and was built in 1880. The property's zip code is 46514 which is in Elkhart, IN