For sale by owner
  • $125,000

    618 Dupage St, Michigan City, IN 46360

    4beds
    1,261sqft
    : 
    SingleFamily
    Built in 1885
    5,500 Square Feet Lot
    $151,800 Zestimate®
    $99/sqft
    $-- HOA

    What's special

    Rehab estimate
    Property Type: SFR Beds/Baths: 3 Bed / 2 Bath Sqft: 1,261 | Lot: 5,500 | Year Built: 1885 Occupancy: Vacant (Gutted corporate shell—demo complete) ARV: $236,000-$300,000 Est. Rent: $1,400–$1,600/mo (Comps: $1,400/1,200 sqft; Zumper $1,465 3bd avg; Section 8 +$100-200) Price/Sqft (ARV): $135–$150/sqft Rehab Estimate: $50K rent-ready | $70-80K flip-ready ?? Rehab Scope & Costs (Rent vs. Flip) Rent-Ready ($60-70K): Gutted—roof $8-10K; systems $12-15K; drywall/paint $8-10K; LVP/kitchen-bath basic $15-18K; yard/safety $5-7K +10% contingency. Flip-Ready ($70-80K): +Premium (quartz $8-10K; hardwood $5-6K; staging $5K)—ARV +$10-20K. ?? DSCR Analysis Gross: $1,500/mo ($18,000/yr) Expenses (30%): $5,400/yr (taxes $2,220; ins/maint/vacancy) NOI: $12,600/yr DSCR: 1.25–1.40 (20% down $37K, 7.5% int.—qualifies; 1.45+ w/Section 8) ?? Flip Breakdown All-In: $175-185K | ARV $236k-$300K | Gross Profit: $65K to +$135K ?? Rental Breakdown Cap Rate: 6.8–7.2% | CoC ROI: 11–13% (20% down, $1,500 rents—14% at $1,600) To set up a tour: Call or text 317-610-9834
    What the owner loves about this home
    ?? Why This Deal Works ?? Huge Profit Margins ?? Comes with all Brand NEW Windows ?? Value-add gut (photos: studs/yard overgrown—strong frame) ?? Stable lake zip: Low vacancy, Section 8 demand ?? Quick corporate close; I-94/no-HOA access ?? Rental strong (7% cap/DSCR buffer); modest flip upside ?? Under $200K all-in for passive/scale ?? Looking for More Off-Market Inventory? We offer: ?? Single-Family Rentals ?? Turnkey Cash Flow Properties ?? Light-to-Heavy Rehab Projects ?? Creative Financing & Seller Carry Deals ?? Browse full inventory at: www.reioffer.net ?? Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834 *Looking for end-buyers ONLY!
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