3/1 Hammond Opportunity

7617 Madison Ave, Hammond, IN 46324

$215,000 After Repair Value -
$120,000 Asking Price -
$28,000 Cost of Repairs =
$67,000 Potential Profit

Property Details

Asking Price $120,000

After Repair Value $215,000

Costs of Repairs $28,000

Potential Profit $67,000

Living Area 1138 ft2

Property Type Single Family House

Bedrooms 3

Bathrooms 1

Half Bathrooms 0

Parking 0

Listed with Agent No

EPI (Estimated Potential Income)

Potential Rental Income $1,450

Yearly Expenses $3,840

Property Taxes $1,158

Net Operating Income $12,402

Cap Rate 9.67

Property Description

New investment opportunity located in South Hammond, IN. Property consists of 3 bedrooms, 1 bathroom and full unfinished basement. Property currently vacant. Newer roof which is 4 years old, 10 year old furnace and 5 years on the water heater. No foundational issues. Property requires minimal work and will be ready for tenants easily.

Repairs Needed

Cosmetic facelift on interior which includes re-sanding the original hardwood floors, updating the kitchen and bathroom, and painting the interior.


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