Welcome to a great investment opportunity in the heart of Gary, Indiana! A well maintained duplex with 6 beds 2 baths. Tenants pay all utilities!

Property Details 🏡

DUPLEX

Two tenants who are both current on rent

One tenant just renewed lease for another 1 year

2nd tenant will be renewing their lease shortly.

Each unit currently gets $1,000 and $950 a month

The home is in good shape

TENANTS PAY ALL UTILITIES INCLUDING WATER AND SEWER!!

CAP RATE 📈📈📈📈📈

We have calculated the cap rate to be around 10.64% with the current rent, and 13.75% with market rents. Refer to our financials.

Market rent is: $2,430

reference: rentometer.com

2023 Comps 📊

1224 W 15th Ave, Gary IN 46407: $149,900

3737 Monroe St, Gary, IN 46408: $155,195

4811 W 41st Ave, Gary IN 46408: $210,000

Income Potential:

Ideal for investors seeking a reliable income stream. The property is configured with 2 units, providing a lucrative opportunity for rental income.

Future Development Opportunities:

With the evolving landscape of Gary, this property holds potential for future development or enhancement. A savvy investor could capitalize on the promising growth in the area.