$17,000 "ALL-IN" - Eastside Bungalow With Potential - 16.9% ROI

[Jason Richardson]

We have this solid Bungalow-styled house located on the Eastside of Michigan City, not far from shopping and restaurant amenities. Property has a full-sized basement, decent sized rooms, and additional space with an enclosed front and back porch. This unit had a small fire in a back bedroom, which only caused some smoke and cosmetic damage. This property can easily be restored to a functional income-generating investment.

Get in on this great deal now!

2 Bed / 1 Bath / 616 SqFt / 4000 SqFt Lot / No Garage / Built 1929

207 N Woodlawn Ave, Michigan City, IN 46360

C Class Neighborhood

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

Unit Price - $10,000
Monthly Income - $600
Yearly Income (includes 1 mo vacancy) - $6,600
Yearly NOI - $2,865.18
Yearly Taxes - $1,815
Yearly Management/Maintenance - $1,320
Annual Insurance - $600
Estimated Rehab Cost - $7,000
All In Cost - $17,000
ROI / Cash on Cash – 16.9%

Professional management and rehab services are available. Serious cash buyer inquiries only please. Email for more information.