$37,000 - Off-Market Steal In Riverpark - 9.6% ROI

[Jason Richardson]

We have a very nice off-market property in the Riverpark area of South Bend, IN. This bungalow has a great floor plan, spacious rooms and a full-size basement. New flooring has been started, as the property is being prepped for a new tenant. Garage in rear needs work, but otherwise is the only real issue needing fixed. There are ceiling fans in both bedrooms and two in the living room. Mechanicals are relatively new, and basement is clean and dry. Comps sit around $60,000 for similar nearby recently sold properties. 

Get in on this steal before it's too late!

2 Bed / 1 Bath / 888 SqFt / 5676 SqFt Lot / Detached Garage / Built 1920

B Class Neighborhood

1018 S 31st Street, South Bend, IN 46615

Here are the numbers, as a cash-flow property:

Our Price - $37,000

Rehab Cost - $1,000

Total Potential Monthly Income - $675 (Possibly $700)

Yearly Income (Based on 1 month vacancy) - $7,425

Yearly Taxes - $1,498.64

Yearly Insurance - $800

Yearly Management/Maintenance Fees - $1,486

Yearly NOI - $3,641.36

All-In Cost - $38,000

ROI/Cash On Cash - 9.6%

Professional management and rehab services are available. Serious cash buyer inquiries only please.

Email for more information.