308 East Madison Street

Goshen, IN 46526

$285,000
Price
5
Beds
5
Baths
2,050 Sq. Ft.
$139 / Sq. Ft.
2,050
Sq. Ft.
$139
per Sq. Ft.

Description

Excellent cash flow on this 5 unit in Goshen. 4 units have been recently remodeled, and the other has a nine year tenant. 3 One Bedroom Units and 2 Studio apartments. NIPSCO shows separate meters for all, plus the common space/basement. Additional Parking may be possible at property to the south with a lease agreement after closing.Excellent cash flow on this 5 unit in Goshen. 4 units have been recently remodeled, and the other has a nine year tenant. 3 One Bedroom Units and 2 Studio apartments. NIPSCO shows separate meters for all, plus the common space/basement. Additional Parking may be possible at property to the south with a lease agreement after closing.
  1. Listed by Nicolas Wyse • RE/MAX Results-Goshen

Property Details for 308 East Madison Street

Style
Two Story
Architectural Style
Foursquare
Subdivision
None
Waterfront
No
Pet Restrictions
Yes

Location

Listing Courtesy of RE/MAX Results-Goshen
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LISTING UPDATED: 04/29/2024 08:34 PM

Property Details for 308 East Madison Street

StatusActive
MLS #202410119
Days on Market33
Taxes$3,885 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Fiveplex
Year Built1940
Lot Size0.05 AC / 2,178 SF
CountyElkhart County

Location

Listing Courtesy of RE/MAX Results-Goshen
Add your commute

Building Information for 308 East Madison Street

Stories2Residences5Year Built1940Building Size-Lot Size0.05 AC / 2,178 SF

Payment Calculator

$1,879 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,555

Property Taxes

$324

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 308 East Madison Street

Summary
Location and General Information
  • Area: Elkhart County
  • City: Goshen
  • Zip + 4: 3456
  • Zip Code: 46526
  • City Zoning: R-1 Single-Family Residential District
  • State: IN
  • Township: Elkhart
  • Cross Street: S 6th St
  • Geo Latitude: 42
  • Geo Longitude: -86
  • Inside City Limits: Yes
  • Fips Code: 18039
  • Directions To Property: E Madison between 6th and 7th. Parking available in lot to the west.
  • Location: City/Town/Suburb
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Assoc Restrictions: No
  • Year Taxes Payable: 2023
  • Parcel Number Id: 20-11-09-480-013.000-015
School Information
  • School District: Goshen Community Schools
  • Elementary: Chandler
  • Middle School: Goshen
  • High School: Goshen
Parking
  • Number Of Parking Spaces: 2
  • Parking: Off Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Fiveplex
  • Approx Lot Size Acres: 0.05
  • Lot Dimensions: 40X54
  • Below Grade Unfin Sqft: 1020.0
  • Total Square Feet: 3070.0
  • Upper Level Sqft: 1020.0
  • Approx Lot Size Sqft: 2178.0
  • Above Grade Finished Sqft: 2050.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 1020.0
  • Total Finished Sqft: 2050.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level, 0-2.9999
  • Main Level Sqft: 1030.0
Property and Assessments
  • New Construction: No
  • Year Built: 1940
  • Age: 84
  • Government Subsidized: No
  • Planned Unit Development: No
Utilities
  • Electric Company: NIPSCO
  • Gas Company: NIPSCO
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Basement, Off Street Parking, Countertops-Laminate
  • Exterior: Vinyl
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
Interior Features
  • Number of Electric Meters: 6
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 5
  • Number of Refrigerators: 5
  • Number of W/D Hookups: 0
  • Number of Washers: 0
  • Number Water Meters: 1
  • Basement: Yes
  • Basement/Foundation: Full Basement, Unfinished
  • Cooling: Window
  • Flooring: Vinyl
  • Heating/Fuel: Gas, Forced Air
  • Stories: 2
  • Number of Above Grade Bedrooms: 5
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 5
  • Total Number of Full Baths: 5
  • Total Number of Half Baths: 0
  • Total Baths: 5
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 3
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 2
  • Num of Units Rented: 2
  • Number of Buildings: 1
  • Number of Units: 5
  • RI/MF Occup Permit: Yes
Income & Expenses Information
  • Annual Electric Expense: $600.00
  • Annual Fuel Expense: $1,872.00
  • Annual Gross Rent $: $41,400
  • Annual Insurance Expense: $4,212
  • Annual Maint. Expense: $0
  • Annual Misc: $0
  • Annual Net Income: $27,151
  • Annual Property Tax: $3,885
  • Annual Trash Expense: $860
  • Annual Water/Sewer Exp: $2,820
  • Gross Monthly Income: $3,450
  • Gross Monthly Rent: $3,450
Unit Information
Unit 1
  • Unit 1 SqFt: 440
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Num of Rooms: 3
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: Yes
  • Unit 1-Deposit Amount: $850.00
  • Unit 1-Electric: Tenant
  • Unit 1-Garage: No
  • Unit 1-Gas: Tenant
  • Unit 1-Laundry Room: None
  • Unit 1-Lease Exp Date: 01-31-2025
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: Apt 1
  • Unit 1-Unit Rent $: $850
Unit 2
  • Unit 2 SqFt: 440
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Num of Rooms: 3
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: Yes
  • Unit 2-Garage: No
  • Unit 2-Laundry Room: None
  • Unit 2-Lease Exp Date: 03-31-2025
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: Apt 2
  • Unit 2-Unit Rent $: $600
Unit 3
  • Unit 3 SqFt: 440
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 1
  • Unit 3-Num of Rooms: 3
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: Yes
  • Unit 3-Deposit Amount: $750.00
  • Unit 3-Electric: Tenant
  • Unit 3-Garage: No
  • Unit 3-Gas: Owner
  • Unit 3-Laundry Room: None
  • Unit 3-Lease Exp. Date: 04-30-2025
  • Unit 3-Level: Upper
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: Apt 3
  • Unit 3-Unit Rent $: $750
Unit 4
  • Unit 4 SqFt: 220
  • Unit 4-Num of Bedrooms: 0
  • Unit 4-Num of Rooms: 2
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: No
  • Unit 4-Electric: Tenant
  • Unit 4-Garage: No
  • Unit 4-Gas: Owner
  • Unit 4-Laundry Room: None
  • Unit 4-Level: Upper
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: Apt 4
  • Unit 4-Unit Rent $: $650
Unit 5
  • Unit 5 SqFt: 220
  • Unit 5-Num of Bedrooms: 0
  • Unit 5-Num of Rooms: 2
  • Unit 5-Basement: No
  • Unit 5-Currently Rented: No
  • Unit 5-Electric: Tenant
  • Unit 5-Garage: No
  • Unit 5-Gas: Owner
  • Unit 5-Laundry Room: None
  • Unit 5-Level: Upper
  • Unit 5-Rent Frequency: Monthly
  • Unit 5-Unit Number: Apt 5
  • Unit 5-Unit Rent $: $650
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Tax, Trash Collection, Water
  • Tenant Pays: Cooling, Electric

Property History for 308 East Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 308 East Madison Street

Taxable ValueLand$8,700Additions$143,700Total$152,400
Tax Record2022$3,415 ($285 / month)
Home Facts
Beds5Baths1Total Finished SqFt2,050 SqFtAbove Grade Finished SqFt2,050 SqFtStories2Lot Size2,178 SqFtStyleSingle Family ResidenceYear Built1940ZoningZO01CountyELKHARTAPN20-11-09-480-013.000-015

Schools near 308 East Madison Street

This home is within Goshen Community Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 9
Public - 9 to 12
Private - PK to 5
Rating
School
Distance
Chandler Elementary School
PublicK to 5

Goshen Middle School
Public6 to 9

Goshen High School
Public9 to 12

St John The Evangelist Catholic School
PrivatePK to 5

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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308 East Madison Street is a multi-family home for sale in Goshen, IN 46526. This property was listed for sale on March 27, 2024 by RE/MAX Results-Goshen, it's currently listed at $285,000. This listing's school district is Goshen Community Schools. Nearby schools include Chandler Elementary School, Goshen Middle School and Goshen High School. 308 East Madison Street is a 5-bed, 5-bath, 2,050 sqft multi-family home built in 1940.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Results-Goshen

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.