INVESTORS – Affordable 3-bedroom, 1-bath raised ranch. This home features a full basement and solid fundamentals, with major updates already completed–including a roof and windows recently –giving you peace of mind on the big-ticket items. Inside, you’ll find a great layout with plenty of potential to make it your own over time. Whether you’re tired of rising rent or ready to invest in your future, this home offers a smart, affordable path to ownership. Currently occupied by a reliable long-term tenant on a month-to-month lease at 1,000/month, this reflects a stable, below-market rent typical of long-term occupancy–providing an opportunity for future increases. At the current asking price, the property delivers an estimated 10.0 cap rate with 12,000 annual gross income and minimal vacancy risk. Property is located in a strong rental area, you may also want to explore local Section 8 Housing Choice Voucher Program payment standards, which could support higher rental income and improved returns, depending on qualification and tenant placement. Sold As-Is, this property offers both immediate cash flow and value-add potential through rent adjustments or light improvements. Whether you’re building your portfolio or entering the market, this is a cash-flowing asset ready to perform from day one. Sold As-Is. Schedule your private showing today and take the first step toward owning your home!
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : NRA839546
Price : $90,500
Bedrooms : 3
Rooms : 5
Bathrooms : 1
Half Bathrooms : 0
Year Built : 1945
Lot Area : 2,526 Sqft
Status : Active
Acres : 0.058
Property Subtype 1 : Apartment
Status : Active
Features
Heating System : Forced Air, Natural Gas
Basement : Yes
Pet Policy : Call
Parking : Off Street
Exterior Features : Rain Gutters
Interior Features : No
Appliances
Appliances : No
Address Map
Country : US
State : IN
County : Lake
City : Gary
Street : 25th
Street Number : 815
Street Suffix : Avenue
Postal Code : 46407
Floor Number : 0
Longitude : W88° 39' 11.2''
Latitude : N41° 34' 22.9''
Directions : Broadway to 25th Ave, west 25th Ave, property on the south side of street