Cash Flow Boarding House #1"

St. Joseph County, South Bend, IN, 46601
Sold
Listed at: March 18th, 2024
Price
$225,000
Sq. Footage
4160
Type
Single-Family
Parking
Assigned
Year build
1900
Lot size
0.06 acres
Bedrooms
5
Bathrooms
2
Half Bathrooms
0
Summary

Welcome to an unparalleled opportunity to own a newly renovated, large 5 bedroom home that is currently rented by-the-room; perfect for Notre Dame students, Airbnb, and boarding house offerings. 

This cash-flowing gem can be offered as a bundle with its counterpart property, located just a few houses away at the corner E South St (also 225k). Why buy one when you can have TWO? Secure your bundle today! 

 

 Quick Property Overview:

  • Size: 2,958 sqft
  • 5 bedrooms, 2 bathrooms
  • Year Built: 1900
  • Lot Size: 2,750 sqft
  • High-Ticket Items: Roof (3yr old), Major mechanical items (1-2yr old)
  • Rehab: None needed

 

 Location Highlights: 

  • Unbeatable location in central downtown South Bend
  • 5 minute walk / 0.2 miles to South Bend Public Transit Center
  • 15 minute walk / 0.7 miles to downtown South Bend

 

Financial Overview: 

 

-Buyer can keep the existing property management in place

-Currently nets $600-1,500 per month each with the potential to net $3,000+ per month.

-Owners aren't hungry for the cash, so they don't property management hard to have every bedroom filled all the time.

-Perfect for college students, Airbnb, and boarding house offerings on a rent by-the-week, biweekly or monthly structure

 

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Title/Escrow/Closing: 

  • COE on or before 4/5/2024 at Meridian Title Corporation
  • Buyer to do all their due diligence & inspections prior to signing contract & 5k non refundable EMD
  • Buyer pays all closing costs
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Kate Sharp

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