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PropertyRADAR

Northwest Indiana 5 Unit

 1529 Sheffield Ave. Dyer IN 46311

$550,000

Pricing/Terms Explained 

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$110,000 Per Unit

Submit Bid
 

Property Summary


Type

Multifamily

In Place NOI
$35,500

Target CAP Rate
6.5%

Today's Market Value
$646,000

Target Purchase Price
$550,000



 




Units
5

Projected NOI
$56,500

Market CAP Rate
5.5%

Value w/Market Rents
$1,020,000

Cost Per Unit
$110,000



 

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10
Beds

5
Baths

9,234
Sq. Ft.

1973
Yr. Built

80%
Occupancy

Investment Strategy
Purchase at target price with 20% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents are well over $1,200 in the area. Current seller has been slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property. 

About The Property
One unit is being completely renovated before closing. Renovation is being completed by seller. The rest of units are rented for $800 per month. Units are row house style units with tenants being responsible for ALL utilities. No common areas exist. Each unit has a basement. Dyer has VERY low available rental units. 2 bedroom apartments easily demand $1,200/month in rent.  

About The Neighborhood
Dyer is 27 miles south of the Loop. Dyer is a northwest suburb of IN with a population of 15,953. Dyer is in Lake County and has been voted one of the best places to live in Indiana. Living in Dyer offers residents a rural feel and most residents own their homes. In Dyer there are a lot of restaurants and parks serving the young professionals that live in Dyer. The public schools in Dyer are highly rated.

Due Diligence

Documents
Citipoint conducts a thorough document review on every property. For access to more documents such as leases, inspection reports, warranties, etc please fill out our Document Request Form.

Rents, expirations, security deposits, balances and more.

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Utility expense, services, insurance, taxes, and more.

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Who pays what - Landlord Vs. Tenant

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Comparable multi family properties that have sold in the area.

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Comparable multi family units that have been rented in the area.

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Market report showing trends and insights.

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Locked.

Property
Financials

Purchase Price of Property


Property Current
This column shows the current financial state of the subject property. These inputs are factual and they are based on verified information.



Year 2 Pro Forma
This column is based on a stabilized condition of the subject property. These inputs assume proper property performance by using our investment suggestions (proper management, bringing rents up to market rate, vacancy absorption, etc).



Debt Service
This column allows the user to add custom financing scenarios.

Property
Performance

View the return metrics based on various inputs. 

"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs. 


 

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