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Investor Special – Full Renovation Needed!
$85,000
Location
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Hope, IN 47246
Details
- Type: Single Family
- Bedrooms: 3
- Bathrooms: 2
- Square Feet: 0
- Total Units: 1
Description
Overview
STARTING PRICE: $80,000
ARV: $250,000
RENT: $1,900
Property Overview:
Type: Single-Family
Beds: 3
Bath: 2
Size: 1,820 sqft
Lot size: 17,424 sqft
Year Built: 1980
Property Highlights:
Property on a Double Lot
New plumping, electrical, hvac, windows (4 Years Old)
Low crime, low holding costs - Hope's crime rate runs roughly 60 % below the U.S. average, and 2024 property taxes on this home were just $413—a buy-and-hold investor's dream.
Three-city reach on I-65 - SR-9 links the house to I-65 in minutes, putting Indianapolis (~55 min), Louisville (~1 hr 20 min) and Cincinnati (~1 hr 10 min) within an easy drive. That broad employment radius boosts resale appeal and tenant demand.
Equity-lift potential - Nearby renovated Washington St comps closing above $200k+ leave plenty of room to force appreciation through upgrades and profit on a flip.
Repairs Needed:
Heavy cosmetic renovation needed
Roof: Needs Updates
HVAC: New (4 Years Old)
Hot Water Heater: Functional, No Issues
Windows: New
Foundation: Functional, No Issues
Electric: New (4 Years Old)
Plumbing: New (4 Years Old)
ARV - $250,000 based on Comps:
305 Harrison St, Hope, IN 47246 — Full Reno Done, 3 Bed / 2 Bath, 1,807 SqFt (built 1930), sold for $274,250 on 10/11/2024.
202 Washington St, Hope, IN 47246 — Turnkey, 3 Bed / 1 Bath, 1,987 SqFt (built 2015), sold for $260,000 on 6/25/2024.
Potential Rent Returns - 1.9k/mo:
Low crime, low holding costs - Hope's crime rate runs roughly 60 % below the U.S. average, and 2024 property taxes on this home were just $413—a buy-and-hold investor's dream.
Three-city reach on I-65 - SR-9 links the house to I-65 in minutes, putting Indianapolis (~55 min), Louisville (~1 hr 20 min) and Cincinnati (~1 hr 10 min) within an easy drive. That broad employment radius boosts resale appeal and tenant demand.
Remember, you miss 100% of the shots you don't take, so don't hesitate to submit that offer!