GARY, IN 46409

Property Overview:

• Address: 4965 Massachusetts St, Gary, IN 46409
• Type: Single Family
• Bedrooms / Baths: 4 Bed / 1.5 Bath
• Size: 1480 sq ft above grade 
• Lot size: .1 acres
• Year Built: 1940 
• Occupancy: vacant

Property Highlights:

• Off-market, not listed on the MLS
• Priced at less than a third of ARV: $50K asking vs. $200K ARV
• Glen Park, east of Broadway. Renovated 4-bed homes within a mile have sold for $204K to $225K in the last 9 months
• Quick-moving area: updated homes nearby have been going under contract in under 45 days
• Works as a flip, or as a BRRRR / long-term rental after rehab

Repairs Needed:

• [Main items: roof, kitchen, baths, flooring, mechanicals, etc.]
• Estimated Repair Costs: $55K to $75K
• Tip: adding a second full bath is what puts this house in the $200K+ bracket. Every nearby sale above $200K has 2 or more full baths.

ARV: $200,000 based on Comps (all within 1 mile, east of Broadway):

• 5173 Virginia St, Gary, IN 46409: 4 Bed / 2 Bath, 1,976 SqFt (built 1955), sold for $225,000 on 01/21/2026. 0.4 mi away.
• 5049 Indiana Pl, Gary, IN 46409: 5 Bed / 2.5 Bath, 1,776 SqFt (built 1960), sold for $214,900 on 06/30/2026. 0.9 mi away.
• 825 E 43rd Pl, Gary, IN 46409: 4 Bed / 2 Bath, 2,223 SqFt (built 1947), sold for $204,000 on 07/24/2026. 0.9 mi away.
• 4701 Carolina St, Gary, IN 46409: 3 Bed / 2 Bath, 1,392 SqFt, sold for $180,000 on 09/08/2026. 0.4 mi away.
• 1407 E 51st Pl, Gary, IN 46409: 3 Bed / 2 Bath, 1,800 SqFt, sold for $182,000 on 06/03/2026. 0.9 mi away.

The Numbers:

• Purchase: $60,000
• ARV: $200,000
• 70% rule: $200K × 70% = $140K, minus repairs. The deal works with up to $80K in rehab.

Potential Rent Returns:

• Renovated 4-bed homes in Glen Park rent for about $1800/month, and Section 8 demand in the area is strong.

Terms:

• Cash or hard money buyers only
• Sold as-is, no repairs or credits
• Earnest money: $2500, due within 24 hours of acceptance and non-refundable
• Proof of funds or a lender approval letter due within 24 hours of acceptance
• Closes through a title company

Remember, you miss 100% of the shots you don’t take, so don’t hesitate to submit that offer!

Call Mike: (219) 900-7007