It's going go quick! Amazing cashflow! Duplex in Michigan City!
Hello everyone, this deal will go extremely fast! Please dont hesitate and wait on this. Amazing CCR at 15.1%!!!! near the premium outlet malls in Michigan City. Also about a hour away from Chicago depending on traffic.
Property Description
This home has amazing cash flow and a great buy and hold opportunity in Michigan City. Within walking distance to downtown. Within a few miles of Blue Chip Casino and the Lighthouse Place Outlet mall! Right off route 12 and 20 is the museum and zoo, to take your family and have a great time. This duplex would make a great asset to an investor growing portfolio of investments. Don’t let this one pass you by. Outstanding return on investment.
Price: $68,750.00
ARV: $74,000.00
CCR: 15.10%
Rent: $650 per unit – Tenants pay gas & electric
Note: We feel the rent could easily be increased by $50 for the upstairs unit and possibly for the downstairs unit, as well.
Property Details
- Bedrooms: 4
- Bathrooms: 2
- Square Footage: 2284
- Year Built: 1900
- Type: Frame multi family
- Garage
- Heating: Forced Air
- Cooling: Central A/C
- Water: City
- Sewer: City
- Taxes: $1,000
Features
The property was recently rehabbed. If you’re looking for something with very low maintenance costs, this is it! Below are some of the amenities of the home and work that was very recently completed.
Brand New Tear Off Roof
New deck
2 new water heaters
Some new plumbing
New porches
New bathroom upstairs
Fresh paint in one unit
Separate gas & electric meters
2 stories
Fireplaces in each unit
Octagon dining room in unit 1
Side Drive
Repairs needed
REHAB COSTS INCLUDED IN PURCHASE PRICE
Rehab Cost = $3100.00 – Our crew will complete the work for you.
Paint a total of 6 rooms
Paint “yellow” kitchen a neutral color
Replace 6 windows
Glue down linoleum floor
Install new bathroom vanity in unit 2 and new medicine cabinet
Replace some baseboards
Other minor miscellaneous work to “polish” the units
Miscellaneous
Our property manager can manage the building for you, if you need that service. She will find quality tenants and run extensive background searches on potential renters.
The city is putting in a new train depot a couple of blocks from the property. The South Shore train runs directly to downtown Chicago. This is a huge plus for the neighborhood. There are more and more new businesses opening in the area as well. This neighborhood will be highly desired within the next 2 years. There’s no doubt that the property’s value will increase substantially within the next 2 years and beyond. Rents will also increase, as younger people move into the area.
Terms of sale
This deal will go very quickly. The highest cash offer will take the deal. Send in Proof of funds along with your offer. This is a cash deal only.
We have equitable interest in the property.
- The info listed above is to the best of our knowledge. Cash or private/hard money only
- Buyer pays closing costs which include transfer taxes, title insurance, and title company fees
- Buyer will receive taxes prorated to 100 percent and free and clear title
- The first investor with a signed contract and $1000.00 earnest money gets the deal
- This is an IRA Qualified investment
*DISCLAIMER: This information is deemed reliable but is not guaranteed
CONTACT DETAILS
Phone: Text or Call 773-401-7321
Email: [email protected]