Unbelievable Opportunity for ROI on this adorable 2416 sq ft 5/2 SFH located in a nice neighborhood with garage, large fully fenced in backyard, and deck. Rent potential is $1300+ and ARV Potential is Amazing!!! This property did have a fire in one of the upstairs bedrooms, but the fire was contained to that room. There is smoke damage to the 2 remaining upstairs bedrooms, hall, and full bathroom. Downstairs kitchen and master bedroom are untouched. Main floor bathroom has insulation from ceiling as this was the room beneath the fire. 5th bedroom and living room had decorative adhesive strips on ceilings which have fallen off. There is also an unfinished basement.
Please note although ARV shows potential of $224,688, there were not any other houses with 5 bedrooms or as large and very few renovated homes, so ARV Comps included only similar looking homes that have been rehabbed within 1/2 mile and sold within the last 9 months. Please see market analysis that shows Median Price for homes in zip code 46952 is $95 per sq ft. Because comps are limited, consider that even at almost half Median Price of $50 per sq foot ($120,800) 70% after purchase would leave $54,560 for rehab which should be more than ample.
Why Marion?
Marion is one of the best cities for rentals in Indiana. The demand is high, and the supply is low. As the city grows, the demand gets even greater! Houses are being renovated all over this city. These rehabbed homes are increasing the comps in the area. As more properties are renovated, the value of your property will continue to increase along with your equity. The mayor is focusing on creating a city that attracts new families and retains those currently living in this small town which is conveniently located between Indianapolis and Fort Wayne. GM has committed to $481 million dollars to help grow commerce and increase jobs. Get in while the getting is good and before the secret is out!
Click here for additional photos: Pics 1419 W 4th St – Google Drive
Click here for comps: Comps-1419 W 4th St, Marion, IN 46952.pdf – Google Drive
Click here for Market Analysis of 46952: Market Analysis Marion, IN 46952.pdf – Google Drive