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Address: 1323 Grant Ave
City: Fort Wayne
State: Indiana
ZIP: 46803
Square Feet: 1463
Bedrooms: 3
Bathrooms: 1
Basement: Yes
Additional Features:
Basement, Fenced yard, Front porch, Hardwood floors, Investment Property, Natural wood trim, Off street parking, Seller Financing, Storage shed
Investor? Landlord? Rehabber? Looking for a bargain?
This home is priced better than REO, with a large upside potential! The house had a kitchen. Smoke damage was minimal. Great Flip potential or great rental with a solid rental history with long-term tenants (over 8 years) who would love to continue renting this home after it is fixed.
Strong Cash Flow 3 Bedroom Investment Property on Quiet Street to hold or flip
With 1463 square foot residents enjoy nice updates and comfort in this Memorial Park Cape Cod-style home. The living room and dining room have natural hardwood floors and trim. Conveniently located bedroom and laundry on the first floor.
Kitchen and baths have been extensively redesigned and updated to allow for a beautiful look and comfort. Plenty of closet space, extra storage area inside the home. Outside there is a large storage shed, a semi-private back yard and plenty of off-street parking.
Appealing to Renters and Homebuyers
This high demand home doesn’t sit vacant for long. Rents fast for a high price because of the home’s proximity to downtown and Indiana Tech University. Phones ring off the hook as soon as yard signs are placed on the main streets.
For energy efficiency, this home has had the walls and attic fully insulated with Owens Corning PROPINK polypropylene Blown-in Insulation.
Other Improvements:
- High Efficiency Exterior Doors & storm windows
- New light fixtures and plumbing hardware
- Private nice Size Yard with cement Patio
- New Frig, stove & Stove Hood Vent
- Fully insulated walls and attic
- Ample Closets & Storage
- NEW Hardwood floors
- Low property taxes
- New ceiling lights
THE DEAL
This was a strong cash flowing 3 bedroom investment property and can be rehabbed fast to make it one again. As local inventory is dropping in Fort Wayne this investor special has several viable exit strategies:
- Buy And Hold Rental
- Fix and Flip To Retail
- Wholesale to handyman, Landlord or Investor
Terms of Sale
$500 to hold it. First come first serve. Seller will provide clear title. Seller will pay owners title policy costs and prorated taxes to day of sale.
- Rehab Cost = $7-10k depending how nice you do rehab.
- After Repair Value (ARV)= $29k
- Fair Market Rent = $595.00 a month
- Currently vacant until fire damage is fixed.
Other key Features
- Fenced private yard
- New Tear off roof done in 2012
- Fully insulated with Owens Corning PROPINK
- Just East of the renovated downtown district
- Great long-term hold property in Fort Wayne
- Close to downtown andIndiana Tech University
- Long-term tenants of 8+ years want to continue renting this home
Reason for Sale
I don’t have the time to give the deserved and needed attention. Great opportunity to make some $$$. Steal this Burn House before we run ads for it! Get your investment back with only a few years’ worth of rental income or flip it.
NEXT STEPS:
If you are a cash or mortgage-approved buyer request a showing
If seller financing is offered on this property apply here before requesting a showing.
Real Estate Investor hard money is available here.
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