3712 DEODAR ST. EAST CHICAGO IN 46312
Target CAP Rate
Today's Market Value
Target Purchase Price
Market CAP Rate
Value w/Market Rents
Cost Per Unit
About the Property
A well maintained 6-unit apartment building in East Chicago, IN. Currently at full occupancy with (5) 2-bedrooms and (1) 4-bedrooms (one of the 2 bedrooms is in the process of being leased). Rented at near market rents. Take advantage of Indiana's low property taxes and landlord favorable eviction laws.
About the Neighborhood
East Chicago sits over the Illinois-Indiana border. The City is investing huge amounts of money into improving the downtown area - which is propped up by the AmeriStar Casino. Next door, the brand new Hard Rock Casino is bringing jobs and revenue to the area.
Purchase at target price with 25% down payment. Upon lease expirations, raise rents to market rate. The 4 bedroom unit is significantly under leased. Refinance and pull cash out based on higher value of the property.
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