For sale by owner
    • $95,000

    409 N Walnut St, Alexandria, IN 46001

    4beds
    2,224sqft
    : 
    SingleFamily
    Built in 1899
    6,250 Square Feet Lot
    $-- Zestimate®
    $43/sqft
    $-- HOA

    Overview

    SFR | 3 Bed / 1 Bath (Potential 5 Bed / 3 Bath with Medium Rehab) *Some Updates DONE ?? Property Snapshot ??Type: Single Family Residence (SFR) ??Sqft: 2,224 total (including potential finished areas) ??Lot Size: 6,250 sqft ??? Year Built: 1899 ?? Garage: Yes (attached, functional needs minor updates) ??? Condition: Gutted interior – medium rehab required for turnkey 5/3 ?? Occupancy: Vacant ??ARV (Rent-Mid 5/3): $187,000 | ARV (Flip 5/3): $229,000 ??Est. Rent (3/1): $1,080–$1,200/mo | Est. Rent (5/3): $1,600–$1,800/mo- Gross Rents: $1,080/month = $12,960/year (current 3/1 estimate; utilities paid by tenant) Price/Sqft (Current): $56 | Price/Sqft (ARV Flip): $103 ??Rehab Estimate: $65,000–$75,000 (medium-grade to 5/3)?? 409 N Walnut St, Alexandria, IN 46001 Condition: Partially renovated – Medium-Rehab required for turnkey 5/3 Work Completed: Professionally cleaned out All permits in place All electrical & plumbing inspections passed HVAC inspections passed by the city New electrical New plumbing New HVAC New ductwork New fence ?? Valuation & ARV Range ARV Estimate (Rent-Mid Grade 5/3): $187,000 ARV Estimate (MLS Flip Grade 5/3): $229,000 3176109834 for more info
    What the owner loves about this home
    Market in Alexandria remains stable with ~5% YoY value growth, strong demand for larger family homes. ?? DSCR Loan Snapshot (Est.) Gross Income: $1,080/mo (3/1) | $1,800/mo (5/3 potential) Annual Gross: $12,960 | $21,600 Est. Expenses (30%): $3,888 | $6,480 NOI: $9,072/yr (3/1) | $15,120/yr (5/3) DSCR: 1.15–1.25 (3/1) | 1.30–1.45 (5/3) Based on 20–25% down, 7.25–7.5% interest, 30-yr amortization. ? DSCR-loan qualified post-rehab with 1.2+ buffer — ideal for passive/out-of-state investors. ?? Investor Highlights Historic charm + modern systems (new electrical, plumbing, HVAC, ductwork — inspected/passed) Light rehab adds 2 beds/2 baths = strong equity build 2,224 sqft + garage + external cellar (storage/utility) Walkable to schools, parks, amenities Rent upside to $1,800/mo or $100K+ flip profit Section 8 & large-family rental friendly ?? Rehab Scope (Med-Grade, 6–8 wks) Interior: fresh gray paint, crown molding, recessed lights, LVP flooring, built-ins, white shaker cabinets & counters (no appliances yet) Clean, ready for finals. Add 2 beds/2 baths via minor framing + finishes. Rehab: $65K–$75K All-In: $190K–$200K ARV: $187K (rent 5/3 mid) | $229K (flip) Rent Potential: $1,080–$1,200 (3/1) | $1,600–$1,800 (5/3) ROI: ~10–12% (hold) | 25–35% (flip) CAP: ~6.5% (current 3/1) | ~9–10% (5/3) ?? Why It Works Low entry at $95K, $59K–$104K equity spread, quick path to turnkey. Historic 1899 build with modern systems = value + speed. ?? Jamie Franklin | Acquire JDF Corp ?? www.reioffer.net | 317-610-9834
    5 hours
    |
    40
    |
    0
    |
    • Loading