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Triplex in Indianapolis, Indiana

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42 N. Gray St.

Indianapolis, IN 46201

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$22,000 $92*
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Contact this seller Triplex 4 4 1812 1939 Marion JAJ7157



Rehab...Sell...or Keep Monthly Cash Flow
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Rehab...Sell...or Keep Monthly Cash Flow

Highlights and Description

  • Traditional style construction
  • 2 stories
  • Built in 1939
  • Lot size is 8500
  • Baseboard heating system
  • City provided sewer/wastewater
  • $620 estimated taxes (twice a year)
This is a money maker for anyone who can rehab. My estimates range from 15K to 19K for complete rehab inside and out. Same type of finished property in the area sells for 60K to 80K according to my Indianapolis realtor. Is close to downtown and college. Easy rent area. This meets the 50-2 Rule even with rents below market! Low Cap Rate is 22% and goes over 30% depending on rent figures. Built in 1939, remodeled in 60 s and I got it after contractor was beginning to remodel it once again before losing the property.  I have PDF file I can send with 50+ pics and will also send a copy of one of my middle rehab estimates detailing the areas needed to be remodeled. This is a strong cash investment even after purchase, rehab, mortgage, and property management.   My figures show a minimum of $700 monthly profit with rent for one bdrm. one ba. at $325 after all overhead!
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 * Est. payment based on 20% down and a 30-year fixed rate mortgage of 4.75%

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December 15, 2011

5 Steps to Before You Sell in 2012

Now is the time to plan your 2012 campaign to sell your home starting with these five key steps....

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