$42,000 · FORT WAYNE, IN 46803
Works for flippers · Landlords would lose money

Available

$42,000Asking price

4 bd · 2 ba · 2,060 sq ft · built 1925

FORT WAYNE, IN 46803

No contract on file

via InvestorLift Classic

8 views · listed 2 days ago

Works for flippers

Landlords would lose money

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $160,000
Asking price: −$42,000
RepairsMiddle of the seller’s $40,000 – $70,000. Ours: $106,000 – $177,000: −$55,000
Loan, holding, closing20% down, 12% interest, 2 points, 82 days: −$7,638
Profit34.6% of ARV · flippers want 10%+: $55,362
Works

Works for a flipper up to $78,000.

HUDREI

Samar Oladapo

No reviews yet

Comps

Sales

Rents

ARV $160,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $147,000.

The sales behind this value are shown to members.

ARV $160,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

HUDREI

Samar Oladapo

No reviews yet

Seller Description

920 Madison St, Fort Wayne, IN 46803

VACANT DUPLEX IN FORT WAYNE - CAN BE CONVERTED BACK TO A SINGLE FAMILY HOME - $42K AGAINST $160K ARV

Property Information: Duplex / multifamily, currently set up with one entrance, can be converted back to a single family home. 4 Bedrooms, 2 Bathrooms, 2,060 Sq Ft, Built 1925, Lot 8,550 Sq Ft. Vacant. Asking Price: $42,000. Buy Now Price: $47,000. ARV: $160,000. Access is through a lockbox, through Samar only. Call Samar to schedule.

Condition Overview: Needs a lot of work throughout, not updated in a long time. Hole in the roof above the back porch, back porch roof rotted. Furnace is older and could not be tested, radiators in most rooms, no central AC, one window AC unit. Water heater looks newer. Kitchen ceiling is down, old water damage under the kitchen sink. Black mold under the dining room window, basement wet in several areas. Chimney bricks loose, a section of exterior brick missing, brick needs repointing. Original hardwood in most of the house, personal belongings left in every room. Unfinished basement, foundation checked with no cracks or holes seen.

Investment Highlights: Priced at $42,000 against a $160,000 ARV. Keep it as a duplex or convert it back to a large 4 bed single family home. Large fenced yard, lots of off street parking off the rear alley, no garage. Vacant, so no tenant delays.

Make an Offer / Request More Information: Call Samar: (317) 268-5906, 9am-6pm EST, Email samar@hudrei.com