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46407, IN

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46407, IN

$35,000 · GARY, IN 46407
Works for flippers · Works for landlords

Available

$35,000Asking price

2 bd · 1 ba · 672 sq ft · built 1954

GARY, IN 46407

No contract on file

via InvestorLift Classic

1 view · listed 4 days ago

Works for flippers

Works for landlords

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $110,000
Asking price: −$35,000
RepairsMiddle of the seller’s $20,000 – $40,000. Ours: $10,000 – $20,500: −$30,000
Loan, holding, closing20% down, 12% interest, 2 points, 72 days: −$5,573
Profit35.8% of ARV · flippers want 10%+: $39,427
Works

Works for a flipper up to $61,000.

WE BUY HOUSES LLC

Mike Voigt

No reviews yet

Comps

Sales

Rents

ARV $110,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $117,000.

The sales behind this value are shown to members.

ARV $110,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

WE BUY HOUSES LLC

Mike Voigt

No reviews yet

Seller Description

PROPERTY OVERVIEW

Type: Single Family Ranch

Size: 672 sqft

Beds/Baths: 2 Bed / 1 Bath

Lot Size: ~5,000 sqft

Year Built: 1954

Foundation: Slab (no basement)

Heating/Cooling: Central heat & central air

PROPERTY HIGHLIGHTS

Single-story ranch in Gary’s 46407, an active rehab and rental areaA same-street comp at 2267 Tennessee St sold for $110,000 in March 2026Comparable 2-bedroom homes on the same block rent for $1,050–$1,100/monthSmall footprint keeps the rehab budget tight and the turnaround fastQuick access to I-80/94 and the Borman, and minutes from the Hard Rock CasinoClosing set for November 20

REPAIRS NEEDED

Interior updates: paint, flooring, kitchen and bath refresh, fixturesEstimated Repair Costs: $20K – $30K

ARV – $100,000 based on Comps:

2267 Tennessee St, Gary, IN 46407 (same street): 2 Bed / 1 Bath, 1,344 SqFt (built 1947). Sold for $110,000 on 03/13/2026.

2232 Kentucky St, Gary, IN 46407: 3 Bed / 1 Bath, 1,344 SqFt (built 1945), fully renovated. Sold for $108,500 on 03/27/2026 (FHA).

1824 Central Dr, Gary, IN 46407: 2 Bed / 1 Bath, 725 SqFt (built 1952), fully renovated. Sold for $101,000 on 04/24/2026.

POTENTIAL RETURNS

Fix & Rent: 2-bedroom homes on Tennessee St are renting for $1,050–$1,100/month, a great cash-flow profile against a small rehab.Fix & Flip: renovated homes nearby are closing at $101K–$110K, including an FHA sale on Kentucky St in March 2026.

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

Call Mike at Preferred Home Buyer: 219-200-5043