Generating a solid 9.15 CAP rate, this property delivers immediate cash flow with additional upside potential for future growth. A spacious 5 BR 1 BA home offers over 1,700 square feet of living space and presents a strong investment opportunity with a long-term tenant already in place. The home features a functional layout with two bedrooms on the main level and three additional bedrooms upstairs, along with a main-floor bathroom and convenient laundry area. An enclosed front porch and rear entryway add extra usable space. The current tenant has occupied the property for many years, providing stability and consistent income, with a lease secured through March 31, 2027. The tenant is responsible for utilities, Landlord covers taxes and insurance, simplifying management. Ideally located in the economically developing Michigan City area near the Lake Michigan shoreline and the South Shore Rail Line to Chicago, this property is well-positioned for possible long-term appreciation. Showings are available Saturdays at 11:00 AM and Tuesdays at 4:00 PM, in consideration of the tenant. Schedule your in-person or virtual tour today to secure this generously sized, nicely performing investment.
Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : NRA817470
Price : $149,000
Bedrooms : 5
Rooms : 9
Bathrooms : 1
Half Bathrooms : 0
Square Footage : 1,727 Sqft
Year Built : 1889
Lot Area : 6,250 Sqft
Status : Active
Acres : 0.1435
Property Subtype 1 : Single Family Residence
Status : Active
Features
Heating System : Forced Air, Natural Gas
Exterior Features : No
Interior Features : Ceiling Fan(s), Eat-in Kitchen
Appliances
Appliances : Range Hood, Range
Address Map
Country : US
State : IN
County : La Porte
City : Michigan City
Street : Hancock
Street Number : 105
Street Suffix : Avenue
Postal Code : 46360
Floor Number : 0
Longitude : W87° 4' 52.9''
Latitude : N41° 42' 31.4''
Directions : W 4th St to W 8th St, turn east on W 8th St, then south on Hancock Ave. The property will be on the east side of the street.