$150,000
302 W 3rd St, North Manchester, IN 46962
Current Rent **
N/A
Projected Rent **
$2,381
Unit 1 Details
- Current Rent:
- Bedroom: 4 bd
- Bathroom: 2 ba
- Square Footage: 0 sqft
- Occupied: No
- Needs Repairs: No
- Off MLS: Yes
Unit 2 Details
- Current Rent:
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: No
- Needs Repairs: No
- Off MLS: Yes
๐ง๐ฟ๐ฎ๐ป๐๐ณ๐ผ๐ฟ๐บ ๐ง๐ต๐ถ๐ ๐๐๐ฝ๐น๐ฒ๐ ๐ถ๐ป ๐ก๐ผ๐ฟ๐๐ต ๐ ๐ฎ๐ป๐ฐ๐ต๐ฒ๐๐๐ฒ๐ฟ, ๐๐ก ๐๐ป๐๐ผ ๐ฌ๐ผ๐๐ฟ ๐ก๐ฒ๐ ๐ ๐๐ป๐ฐ๐ผ๐บ๐ฒ ๐๐ฒ๐ป๐ฒ๐ฟ๐ฎ๐๐ผ๐ฟ!
๐ 302 W 3rd St, North Manchester, IN 46962
๐ฐ Purchase Price: $150,000 ($75K per door)
๐ ARV: $218,000 | Pro Forma Cap Rate: 16.19%
๐ต Potential Rent: $2,381/month | Pro Forma NOI: $24,286
โจ Why This Deal is a No-Brainer!
โ
Incredible Value โ Buy this stunning Victorian $64,400 BELOW the average comparable property price! Similar homes in the area are selling for $200K to $365K โ donโt miss this rare opportunity!
โ
Strong Rental Potential โ Two-unit duplex with a 100% vacant status, ready for new tenants! Market rents project $2,381/month in rental income.
โ
Charming Historic Home โ Features a curved staircase, ornate ceilings, original woodwork, and a spacious double lot!
๐ Unit Breakdown & Property Details
๐น 4 Bed / 2 Bath Unit โ Market Rent: $1,510/month
๐น 1 Bed / 1 Bath Unit โ Market Rent: $871/month
๐ Building Size: 2,602 sq. ft.
๐ Recent Repairs: Electrical & plumbing updates (2020), including kitchen & bathroom re-plumbing.
๐ฅ Furnaces: 2 units (Main furnace purchased in 2020, second refurbished in 2020).
๐ฆ Water Heaters: 2 units (One replaced in 2020).
๐ Roof: Mixed materials (slate, shingles, metal) โ Minor repairs needed for shingles & gutters.
๐ Parking: Two-car garage + off-street parking.
๐ Why Invest in North Manchester, IN?
๐ 4 min from Manchester University โ Steady renter demand!
๐ญ Cultural & Artistic Hub โ More artists & designers per capita than 90% of U.S. towns!
๐ผ Income Stability โ Strong rental market, $30,705 per capita income.
๐ Great Location โ Close to major employers, healthcare, and education hubs.
๐ข Invest in this historic gem with strong cash flow potential! Contact us today for more details or to schedule a viewing.
Location:
302 W 3rd St, North Manchester, IN 46962
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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