$599,900 Price Analysis   ♡   Hamilton, IN 46742 6 bed 6 bath 4,636 SqFt ($129/SqFt) 8,712SqFt lot. Built 1885 Listed 2024-02-27, Taxes $4,485 | ✓ USDA Eligible near Hamilton, IN Restrictions may apply due to home size |
Discover a rare investment opportunity in the heart of Hamilton
Indiana a 6-unit mixed-use property with 60 feet of lake frontage on Hamilton Lake. Nestled in a thriving lake community, this property presents a variety of potential uses. The current setup includes three 1-bedroom apartments for stable long-term rentals and a fully furnished 3-bedroom apartment catering to the burgeoning demand for turnkey short-term rentals. Two storefront commercial spaces situated ideally at the main hub of Hamilton's activity offer prime visibility for businesses. Not to mention 4 dock slips that you can rent to others and use for yourself! Convenience is key with a private off-street driveway and a 1-car detached garage for added storage. Currently cash flowing, this property holds the promise of increased returns.
Imagine running a multi-unit short-term rental business, leasing out office spaces and enjoying a dock slip for your boat. Hamilton Lake, an all-sports lake spanning 800 acres, offers fishing, boating and water rcreation. Nearby golf courses and lakefront restaurants accessible by boat add to the appeal. Abundant options make this property a exceptional setup for several use scenarios. Run a multi-unit Short Term Rental business and rent the commercial spaces to local businesses. Live in one unit, use a commercial space for your business and let the remaining units contribute to covering your investment. Within walking distance to the public beach, adjacent to the popular Howie's on Hamilton restaurant and part of a golf cart community, this property embodies value in a growing lake town. Seize the opportunity to own a piece of Hamilton's lakeside charm where imagination knows no bounds and the potential for this value-add property is as vast as the lake itself.
Presented by Scott Marker at
Anchor Realty.
Property MLS #202406133 from IRMLS
Full Bathrooms: 6
Fuel Expense: 800
Heating Features: Gas, Baseboard, Forced Air
Flooring: Mixed
Water Features: Pier/Dock
Lake
Waterfront Feet: 60
Lot Description: Lake, Level, Waterfront, Water View
Lot Size Acres: 0.2
Lot Size Dimensions: 60 X 146
Lot Size Square Feet: 8712
Garage Description: Garage, Gravel, Off Street
Number of Units: 6
Number of Studio Units: 2
Number of 1 Bedroom Units: 3
Number of 3 Bedroom Units: 1
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-6: 1
Total Rooms in Unit-1: 6
Total Rooms in Unit-2: 3
Total Rooms in Unit-3: 3
Total Rooms in Unit-4: 3
Total Rooms in Unit-5: 2
Total Rooms in Unit-6: 2
Unit 1 Total Actual Rent: 2000
Unit 2 Total Actual Rent: 850
Unit 3 Total Actual Rent: 800
Unit 4 Total Actual Rent: 750
High School: Hamilton
Middle School: Hamilton Middle
School District: Hamilton Community
Map directions Map directions Map directionsLease Term: 1 Year
Tenant Pays: Cable, Electric, Heating
Source Listing Status: Active
County: Steuben County
Directions: Second building on the Northeast corner of Bellefontaine Rd and Wayne St. in Hamilton, IN.
Tax Year: 2023
Source Property Type: INVESTMENT
Insurance Expense: 3000
Number of Separate Electric Meters: 6
Number of Separate Gas Meters: 6
Number of Separate Water Meters: 1
Owner Pays: Lawn Maintenance, Snow Removal, Trash Collection
Parcel Number: 76-10-33-410-106.000-010
Postal Code Plus 4: 9364
Property Location: City/Town/Suburb, Lake
Township: Otsego
Trash Expense: 350
Lot Number: 56
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2021 | $82,000 + $228,700 $310,700 | $4,485 |
| 2020 | $82,000 + $207,900 $289,900 | $4,273 |
| 2019 | $75,400 + $199,500 $274,900 | $3,118 |
| 2018 | $72,000 + $246,800 $318,800 | $3,934 |
| 2017 | $50,900 + $246,800 $297,700 | $1,724 |
| 2017 | $69,000 + $246,800 $315,800 | $1,724 |
| 2016 | $53,000 + $246,800 $299,800 | $102 |
| 2015 | $53,400 + $246,800 $300,200 | $3,493 |
| 2013 | $54,000 + $246,800 $300,800 | $3,807 |
| 2012 | $60,000 + $246,800 $306,800 | $3,782 |
| 2011 | $61,900 + $246,800 $308,700 | $2,754 |
| 2010 | $62,400 + $246,800 $309,200 | $2,194 |
| 2008 | $59,800 + $224,400 $284,200 | $2,543 |
$599,900
IRMLS
Listed 2024-02-27
$624,900
IRMLS
Listing removed 2024-02-13
$640,000
IRMLS
Price Changed 2024-01-05
$640,000
IRMLS
Listing removed 2023-11-29
$650,000
IRMLS
Listed 2023-11-27
$650,000
IRMLS
Listed 2023-11-27
$650,000
IRMLS
Sold 2022-08-29
$632,812
Public Record
Sold 2019-10-16
$443,750
Public Record
Year Built: 1885
Above Grade Finished Area: 3336
BelowGradeFinishedArea: 1300
Below Grade Unfinished Area: 200
Other Buildings: Outbuilding SqFt: 36, Outbuilding Length: 6, Outbuilding: Shed
Property Age: 139
Roof: Flat, Metal
Levels or Stories: 3
Total Area Sqft: 4836
Total Below Grade Area: 1500
Sewer: City
City
Water Sewer Expense: 1200
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.