GARY, IN 46409

Property Overview:

• Type: Single-Family, 1-Story Brick Ranch
• Bedrooms / Bathrooms: 3 Bed / 1 Bath
• Size: 920 sqft above grade, plus a full unfinished basement
• Lot size: 4,400 sqft
• Year Built: 1928
• Garage: None
• Basement: Yes, full and unfinished, with potential for 4 Bed / 2 Bath and 1,840 sqft

Property Highlights:

• Livable condition: rent it as-is, or turn it into a turnkey rental
• Solid brick construction
• Full basement adds a 4th bedroom and 2nd bath, doubling the living space to 1,840 sqft
• Located in Gary’s Glen Park area, close to I-65 and I-80/94
• 3-bed homes in 46409 are listed for rent at $1,400–$1,595/month

Repairs Needed:

• Livable now. The rehab covers interior updates plus finishing the basement into a 4th bedroom, 2nd bath and family room.
• Estimated Repair Costs: $40k

ARV - $210,000 based on Comps:

• 3903 Kentucky St, Gary, IN 46409 — Remodeled ranch, 4 Bed / 2 Bath, 1,850 SqFt (925 above grade / 925 finished basement, built 1960), sold for $209,900 on 09/15/2026.
• 825 E 43rd Pl, Gary, IN 46409 — Completely remodeled, 4 Bed / 2 Bath, 2,223 SqFt with finished basement (built 1947), sold for $204,000 in 2026.
• 3376 Maryland St, Gary, IN 46409 — Gut rehab, 3 Bed / 2 Bath, 2,100 SqFt (1,150 above grade / 950 finished basement, built 1926), sold for $175,000 on 07/22/2026.
• 4315 Kentucky St, Gary, IN 46409 — Fully renovated, 3 Bed / 3 Bath, 2,232 SqFt with finished basement (built 1948), sold for $172,000 on 09/18/2026.

Potential Returns:

• Fix & Flip: Buy at $60K + $40K rehab = $100K all-in against a $210K ARV, a $110K spread. That’s an opportunity to make $60K+ in profit after selling and holding costs.
• Buy & Hold: At a $60K purchase price, it rents at $1,400–$1,600/month as a 3 bed, which is a 28%+ gross yield. Finish the basement to a 4 Bed / 2 Bath to push rent higher.

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

Call Mike Today at 219-900-7007!