We scan the terrain for deals that deliver on ROI!
1. Greenacre St, South Bend, IN 46637 - SOLD
This is a beautiful 3 bedroom, 2 bath ranch located in a desirable neighborhood on the north side of South Bend. It has a total of 1,296 SF and is built on a crawl space. The home appears to be in a decent liveable condition "as is" with very minimal work required. It could also be rehabbed/updated to force appreciation. You will love the large 0.46 acre lot which has a huge backyard. There is a large 2 car detached garage that has an attached shed providing lots of storage or workshop space. It is also great for an owner occupant. Seller is offering the home "as is".
2. Parkview Pl, South Bend, IN 46616 ~ SOLD
This is a 3 bedroom, 1 bath, 1,252 SF, full basement, 1 car garage beauty near Riverside Drive in South Bend, Indiana. The home appears to be in a decent liveable condition "as is" with very minimal work required. It could also be rehabbed/updated to force appreciation. Seller is offering the home "as is".
3. Hintons Bittersweet Subdivision , Granger, IN 46530 ~ SOLD
This is currently a 2,171 SF quad level with a living room, kitchen, dining room, a half bath and a 2 car garage on the main level. The upper level has 3 bedrooms and a full bath. The sub level has a huge family room and a roughed in full bath. There is also an 875 SF unfinished basement with a roughed in laundry room, mechanical room, a roughed in full bath and two roughed in but unfinished rooms. No specific address is provided to protect the privacy of the current occupants.
4. Grape Rd, Mishawaka, IN 46545 - SOLD
This is a commercial brick building with 2,940 SF on the main level and a full height finished basement with an additional 2,500 +/- SF built in 1960. It is on 0.90 acres. Located on Grape Road in Mishawaka near the busy McKinley retail corridor it has a C-1 zoning which opens it up to a variety of uses. The current main level layout consists of a large meeting room, 2 bathrooms, a small office and a larger office/conference room. The finished basement layout has a large meeting area, a kitchen, 2 bathrooms, 6 small offices and 2 large storage rooms. The gravel parking lot has a capacity for 18+/- vehicles.
5. Revere Pl, South Bend, IN 46619 - SOLD
This is a 1 story match-box house with 2 bedrooms, 1 bath, a full basement and 725 SF built in 1948. It does not have a garage but has a decent sized yard. It is in a decent area of South Bend that is NOT full of vacant lots from houses that have been torn down.
Main items to make it functional are some plumbing work, a water heater and the old furnace has a 50/50 chance of being operable at best. Currently has 60 Amp electric service which would need to be upgraded.The rest is mainly clean-out, cosmetics and some carpentry. This is not a conclusive list of repairs - Buyer to make their own assessment of repairs.
6. 2819 York Rd, South Bend, IN 46614 - Now Available
A 3 bedroom, 2.5 bath ranch on a slab foundation and spanning 2,944 SF, this Ridgedale Subdivision property is surrounded by properties within a 0.25 mile radius that have sold in excess of $400,000.00. This is a sitting value add play in a popular neighborhood that with a high level execution should yield a conservative $100.00/SF ARV.
Built in 1950, almost everything in it is currently functional, however it is due for some sizzle and some layout updates to give it that HGTV shine and a higher price point. A quick video walk-through below will familiarize you with what is existing and help you visualize what can be.
**Another option for this property would be a higher end rental. It is not in a rental area so the rental comps available only show a $700.00/mo median rent however it can conservatively pull $1,200.00/mo - $1,500.00/mo. One much smaller rental comp on Southridge Dr. with 3 bedrooms, 1 bath and 1,124SF at $1,200.00/mo supports this rental valuation (please refer to this rental comp document in Dropbox).
Please scroll down below the map for more extensive property details.
Address: 2819 York Rd, South Bend, IN 46614
Square Feet: 2,944 SF Finished Area
Garage: 2 car attached 24'x20'= 480 SF
Year Built: 1950
Lot Size: 86' x200' = 17,200 SF or 0.39 acre
Water: City Water
Sewer: City Sewer
Heating: Natural Gas - Forced Air - Nipsco
Cooling: Central Air
Water Softener: Yes
Swimming Pool: No
Assessed Value: $186,700
Property Tax: $2,376 - Homeowner with exemptions
Property Tax: $4,765 - Investor holding long-term as a Landlord
Rehab as a Rental: Depends on how extensive. $10K - $15K at **reasonable market rates
Rehab as a Flip: Also depends on how extensive. A FULL GUT REHAB would be appx. $100K - $120K at **reasonable market rates
**Reasonable market rates implies using contractors priced below retail (what a homeowner would pay for similar work)
Some investors can pull either rental or flip rehab off for less depending on their labor cost and/or material discounts
I should add that I am also a licensed, bonded and insured General Contractor should a potential buyer want me to do the rehab
ARV: $294,400.00 - $323,840.00 - Assuming a FULL GUT REHAB with varying finish levels
Asking $95,000.00 Cash Only
Under the circumstances, Buyer must be able to close ASAP upon delivery of a clear title report. Time is of the essence.
Closing at Fidelity National Title 4215 Edison Lakes Pkwy #115, Mishawaka, IN 46545
Call/ Text 574-742-2201 with any questions
7. 1005 N Cleveland , South Bend, IN 46628 - Now Available
This 3 bedroom, 2 bath, 1 1/2 story house has the ingredients to make a good cash flowing rental. It was built in 1913 and has 1,840 SF with a large basement and a partial crawlspace. The garage was torn down a while back due to a fire. It is located in the Near Northwest area of South Bend next to Muessel Elementary - an area that is seeing some revitalization with several really good looking remodeled homes.
The very basics to make it rent ready include - a good clean-out, some roof repairs on the front, some exterior cosmetic work, extensive cleaning to eradicate pet odors and pests, some drywall/plaster repair, paint, flooring, possibly a new water heater and duct cleaning. This is not a conclusive list of repairs - Buyer to make their own assessment of repairs. Please refer to the pictures and walk-through video below for a good idea of the present condition.
This is an off-market opportunity. Asking $15,000.00 cash. Must have the ability to close ASAP by or before Friday, 8/25/17. Time is of the essence.