Instant Equity in Cash Flowing Duplex
411 N Sheridan Alexandria, IN
$95,000 OBO
This 1728 sq ft duplex features 2/1 per unit. The main floor unit is currently cash flowing $975 per month. This tenant is currently under a lease through 5/7/27. The upstairs tenant was recently evicted and that unit has been cleaned out. Updated pics of this unit will be available soon. The upstairs unit was rented for $900. The owner pays for all utilities, which average $300 per month for both units, providing an opportunity to increase ROI by having tenants pay their own utilities.
Please note in the pictures, there is a spot on the ceiling in the lower unit where the previous upstairs tenant’s window a/c was dripping down through the ceiling. This is being addressed by the current property manager. Both units are HUD approved, but current tenant is not a HUD tenant. This property is currently being professionally managed.
In June of 2024, this property was appraised for $115,000. Please note that rental amounts were not provided at that time, so they based the appraisal on rental income of only $1600 when actual rental income when both units are cash flowing is $1875.
Click here for additional photos and video: Pics 411 N Sheridan Alexandria, IN – Google Drive