$280,000 Price Analysis    ♡   Warsaw, IN 46580 5 bed 4 bath 2,988 SqFt ($93/SqFt) 8,712SqFt lot. Built 1890 Listed 2024-02-19, Taxes $2,357 | ✓ USDA Eligible near Warsaw, IN Restrictions may apply due to home size |
Don't miss out on this exceptional opportunity to enhance your investment portfolio with a fully occupied
* Has Contingent Offer *Updated four-unit apartment, offered at an impressive 11.75% CAP rate. With traditional financing, you can secure nearly a 17% cash on cash return, even after accounting for vacancy, property management and CapEx. This property is a lucrative addition to any investment strategy. Numerous updates have been made throughout the property, including complete renovations of the detached apartment (Unit D), as well as refreshing flooring, paint, kitchens, baths and appliances in other units.
These enhancements ensure tenant satisfaction and maximize rental potential. For investors seeking a broader portfolio, this property is also available as part of a 14-unit, 3-property portfolio for $960, 000, boasting an impressive 12.55% CAP rate and returns exceeding 20%. Check MLS #202405089 for more details. The selle r strongly prefers to sell via the entire package, presenting an opportunity to capitalize on a diverse portfolio of income-generating properties. Don't let this opportunity slip away. Take action today to enhance your financial position with this investment opportunity.
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RE MAX Results.
Property MLS #202405091 from IRMLS
Full Bathrooms: 4
Heating Features: Gas, Forced Air
Flooring: Laminate
Lot Size Acres: 0.2
Lot Size Dimensions: 66X132
Lot Size Square Feet: 8712
Number of Units: 4
Number of 1 Bedroom Units: 2
Number of 2 Bedroom Units: 2
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Unit 1 Total Actual Rent: 953
Unit 2 Total Actual Rent: 1524
Unit 3 Total Actual Rent: 1356
Unit 4 Total Actual Rent: 1251
High School: Warsaw
Middle School: Edgewood
School District: Warsaw Community
Map directions Map directions Map directions Map directionsLease Term: Month to Month, 1 Year
Tenant Pays: Electric
Source Listing Status: Cont-AccptngBackupOffers
County: Kosciusko County
Cross Street: Winona Ave
Directions: From Detroit St - IN 15, head south, turn right onto S Columbia St, property is on the left
Tax Year: 2024
Source Property Type: INVESTMENT
Insurance Expense: 2199.96
Source Neighborhood: Hood & Britton
Number of Separate Electric Meters: 2
Number of Separate Gas Meters: 2
Number of Separate Water Meters: 1
Owner Pays: Electric, Heating, Sewer, Trash Collection, Water
Parcel Number: 43-11-08-300-286.000-032
Postal Code Plus 4: 4376
Subdivision: Hood & Britton
Township: Wayne
Trash Expense: 948
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $95,400 + $18,000 $113,400 | $2,357 |
| 2021 | $79,300 + $16,800 $96,100 | $2,008 |
| 2020 | $76,500 + $13,000 $89,500 | $1,872 |
| 2019 | $72,500 + $13,000 $85,500 | $1,791 |
| 2018 | $68,900 + $13,000 $81,900 | $1,719 |
| 2017 | $66,400 + $13,000 $79,400 | $1,671 |
| 2016 | $64,100 + $10,500 $74,600 | $1,571 |
| 2015 | $61,600 + $10,500 $72,100 | $1,502 |
| 2014 | $70,600 + $10,500 $81,100 | $1,446 |
| 2013 | $71,900 + $10,500 $82,400 | $2,002 |
| 2012 | $76,700 + $10,500 $87,200 | $2,085 |
| 2011 | $68,800 + $21,600 $90,400 | $2,020 |
| 2010 | $70,100 + $22,000 $92,100 | $1,878 |
| 2008 | $72,000 + $21,900 $93,900 | $1,752 |
| 2007 | $110,400 + $22,300 $132,700 | $2,396 |
$280,000
IRMLS
Sold 2020-12-09
$161,650
Public Record
Year Built: 1890
Above Grade Finished Area: 2988
Below Grade Unfinished Area: 768
Construction Materials: Block
Property Age: 134
Levels or Stories: 2
Structure Type: Fourplex
House Style: Two Story
Total Area Sqft: 3756
Total Below Grade Area: 768
Sewer: City
City
Water Sewer Expense: 3109
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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.