1957 Highway 524

Wabash, IN 46992

$619,500
Price
3
Beds
3,136 Sq. Ft.
$198 / Sq. Ft.
3,136
Sq. Ft.
$198
per Sq. Ft.

Description

This fully updated 5-unit apartment strip sits on a sprawling 10-acre parcel and is 100% rented—offering instant income for savvy investors. The complex includes (2) one-bedroom units and (3) two-bedroom units, all modernized and well-maintained for long-term tenant retention. In addition to the apartments, the property features a spacious 3,136 sq ft home with 3-4 bedrooms, 3 full baths, and a 2-car attached garage with a full loft. With the right zoning approval, this home could easily be converted...This fully updated 5-unit apartment strip sits on a sprawling 10-acre parcel and is 100% rented—offering instant income for savvy investors. The complex includes (2) one-bedroom units and (3) two-bedroom units, all modernized and well-maintained for long-term tenant retention. In addition to the apartments, the property features a spacious 3,136 sq ft home with 3-4 bedrooms, 3 full baths, and a 2-car attached garage with a full loft. With the right zoning approval, this home could easily be converted into a duplex, adding even more rental potential. But that’s not all, this property also includes multiple concrete pads perfect for campers, park models, or small trailers, opening the door for expanded income streams such as short-term rentals or seasonal tenants. Whether you're looking to diversify your portfolio, generate passive income, or expand into multi-unit or vacation rental markets, this property offers incredible potential and flexibility.
  1. Listed by Sarah Mast • Real Broker, LLC

Property Details for 1957 Highway 524

Style
Other
Subdivision
None
Waterfront
No
Pet Restrictions
No
LISTING UPDATED: 11/23/2025 05:20 AM

Property Details for 1957 Highway 524

StatusActive
MLS #202547063
Days on Market78
Taxes$3,023 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Apartment Building
Year Built1942
CountyWabash County

Location

Listing Courtesy of Real Broker, LLC
Add your commute

Building Information for 1957 Highway 524

Building/Complex1957 Highway 524Floor-Stories2Residences6Pet Policy-Pet Policy Details-Year Built1942Building Size-

Payment Calculator

$3,271 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,019

Property Taxes

$252

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1957 Highway 524

Summary
Location and General Information
  • Area: Wabash County
  • City: Wabash
  • Zip + 4: 9041
  • Zip Code: 46992
  • State: IN
  • Township: Lagro
  • Geo Latitude: 41
  • Geo Longitude: -86
  • Fips Code: 18169
  • Directions To Property: Take Highway 24 east from State Road 13, turn right onto State Road 524. Property is on the right.
  • Location: Rural
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2025
  • Parcel Number Id: 85-11-32-400-012.000-003
School Information
  • School District: MSD of Wabash County Schools
  • Elementary: Metro North/Sharp Creek
  • Middle School: Northfield
  • High School: Northfield
Parking
  • Number Of Parking Spaces: 14
  • Parking: Lot
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Building
  • Approx Lot Size Acres: 10.0
  • Lot Dimensions: 10 acres
  • Below Grade Unfin Sqft: 1912.0
  • Total Square Feet: 5048.0
  • Approx Lot Size Sqft: 435600.0
  • Above Grade Finished Sqft: 3136.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 1912.0
  • Total Finished Sqft: 3136.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Irregular, Partially Wooded
Property and Assessments
  • New Construction: No
  • Year Built: 1942
  • Age: 83
  • Documents Available: Aerial Photo, Floor Plan
  • Government Subsidized: No
  • Planned Unit Development: No
Utilities
  • Electric Company: REMC
  • Sewer: Private, Septic
  • Water Utility: Private, Well
  • Well Type: Private
Interior and Exterior Features
Exterior Features
  • Amenities: Off Street Parking, Storage
  • Common Amenities: Laundry Facilities
  • Driveway: Asphalt
  • Exterior: Metal, Stone, Vinyl
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Metal, Shingle
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 2
  • Number of Microwaves: 5
  • Number of Ranges/Ovens: 6
  • Number of Refrigerators: 5
  • Number of W/D Hookups: 4
  • Number of Washers: 2
  • Number Water Meters: 0
  • Basement Material: Block
  • Basement: Yes
  • Basement/Foundation: Crawl, Partial Basement, Unfinished
  • Cooling: Central Air, Multiple Cooling Units, Window
  • Flooring: Carpet, Laminate, Mixed
  • Heating/Fuel: Gas, Forced Air, Other Heating System, Propane Tank Owned
  • Stories: 2
  • Number of Above Grade Bedrooms: 3
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 3
  • Total Number of Full Baths: 3
  • Total Number of Half Baths: 0
  • Total Baths: 3
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 2
  • Num Of 2 Bedrooms: 3
  • Num Of 3 Bedrooms: 1
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 6
  • Number of Buildings: 4
  • Number of Units: 6
Income & Expenses Information
  • Annual Electric Expense: $6,467.73
  • Annual Fuel Expense: $1,980.79
  • Annual Gross Rent $: $61,800
  • Annual Insurance Expense: $3,200
  • Annual Maint. Expense: $8,500
  • Annual Misc: $745
  • Annual Net Income: $35,809
  • Annual Property Tax: $3,023
  • Annual Trash Expense: $2,075
  • Annual Water/Sewer Exp: $0
  • Gross Monthly Income: $5,150
  • Gross Monthly Rent: $5,150
Unit Information
Unit 1
  • Unit 1 SqFt: 481
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Num of Rooms: 3
  • Unit 1-Basement: No
  • Unit 1-Electric: Owner
  • Unit 1-Garage: No
  • Unit 1-Gas: Owner
  • Unit 1-Level: Combined
  • Unit 1-Unit Number: 1
  • Unit 1-Unit Rent $: $725
Unit 2
  • Unit 2 SqFt: 676
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 2
  • Unit 2-Num of Rooms: 4
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: Yes
  • Unit 2-Electric: Owner
  • Unit 2-Garage: No
  • Unit 2-Gas: Owner
  • Unit 2-Level: Combined
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: 2
  • Unit 2-Unit Rent $: $800
Unit 3
  • Unit 3 SqFt: 674
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 2
  • Unit 3-Num of Rooms: 4
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: Yes
  • Unit 3-Electric: Owner
  • Unit 3-Garage: No
  • Unit 3-Gas: Owner
  • Unit 3-Level: Combined
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: 3
  • Unit 3-Unit Rent $: $800
Unit 4
  • Unit 4 SqFt: 661
  • Unit 4-Num of Bedrooms: 2
  • Unit 4-Num of Rooms: 4
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: Yes
  • Unit 4-Electric: Owner
  • Unit 4-Gas: Owner
  • Unit 4-Level: Combined
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: 4
  • Unit 4-Unit Rent $: $800
Unit 5
  • Unit 5 SqFt: 443
  • Unit 5-Num of Bedrooms: 1
  • Unit 5-Num of Rooms: 3
  • Unit 5-Basement: No
  • Unit 5-Currently Rented: Yes
  • Unit 5-Electric: Owner
  • Unit 5-Gas: Owner
  • Unit 5-Level: Combined
  • Unit 5-Rent Frequency: Monthly
  • Unit 5-Unit Number: 5
  • Unit 5-Unit Rent $: $725
Unit 6
  • Unit 6 SqFt: 3136
  • Unit 6-Num of Bathrooms: 3
  • Unit 6-Num of Bedrooms: 3
  • Unit 6-Num of Rooms: 13
  • Unit 6-Basement: Yes
  • Unit 6-Currently Rented: Yes
  • Unit 6-Electric: Tenant
  • Unit 6-Garage Type: Attached
  • Unit 6-Garage: Yes
  • Unit 6-Garage/Num of Cars: 2
  • Unit 6-Gas: Tenant
  • Unit 6-Laundry Room: Closet
  • Unit 6-Level: Combined
  • Unit 6-Rent Frequency: Monthly
  • Unit 6-Unit Number: House
  • Unit 6-Unit Rent $: $1,300
Rental
Rental Information
  • Lease Term: Month to Month, Renewal Options
  • Owner Pays: Building Insurance, Electric, Lawn Maintenance, Maintenance, Sewer, Snow Removal, Tax, Trash Collection, Water Softener
  • Tenant Pays: Deposit Value

Property History for 1957 Highway 524

DateEvent & SourcePriceAppreciation
Nov 22, 2025

Listed (Active)

Indiana Regional MLS #202547063

$619,500—
May 1, 2019

Sold (Public Record)

Public Record #1314927169

$207,500

+2.2% / yr

Aug 31, 2017

Sold (Public Record)

Public Record #1272660326

$200,000—
DateEvent & SourcePrice
11/22/2025

Listed (Active)

Indiana Regional MLS #202547063

$619,500
05/01/2019

Sold (Public Record)

Public Record #1314927169

$207,500

+2.2% / yr

08/31/2017

Sold (Public Record)

Public Record #1272660326

$200,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1957 Highway 524

Taxable ValueLand$52,700Additions$150,400Total$203,100
Tax Record2024$2,999 ($250 / month)
Home Facts
Beds3Baths4Total Finished SqFt3,136 SqFtAbove Grade Finished SqFt3,136 SqFtStories2Lot Size435,600 SqFtStyleSingle Family ResidenceYear Built1942Year Renovated1969CountyWABASHAPN85-11-32-400-012.000-003

Schools near 1957 Highway 524

This home is within M S D Wabash County Schools.
Rating
School
Type
Grades
Distance
Sharp Creek Elementary School
Public - 3 to 6
Northfield Jr-Sr High School
Public - 7 to 12
Wabash-Miami Area Program
Public - PK to 12
Metro North Elementary School
Public - PK to 2
Rating
School
Distance
Sharp Creek Elementary School
Public3 to 6

Northfield Jr-Sr High School
Public7 to 12

Wabash-Miami Area Program
PublicPK to 12

Metro North Elementary School
PublicPK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1957 Highway 524, Wabash, IN 46992

1957 Highway 524 is a multi-family home for sale in Wabash, IN 46992. This property was listed for sale on November 22, 2025 by Real Broker, LLC, it's currently listed at $619,500. It has been on the market for a total of 78 days and was last sold on May 1, 2019. This listing's school district is M S D Wabash County Schools. Nearby schools include Sharp Creek Elementary School, Northfield Jr-Sr High School and Wabash-Miami Area Program. 1957 Highway 524 is a 3-bed, 3-bath, 3,136 sqft multi-family home built in 1942.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Real Broker, LLC

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.