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1516 Lafayette Street Michigan City, IN $ 285,000
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$ 285,000 Get more info
1516 Lafayette Street
$ 285,000
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1516 Lafayette Street

Michigan City, IN, 46360
$ 285,000
Bedrooms5 Baths3.0

Monthly Estimate*

$ 1,991

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Multi-Family Home for sale in Michigan City, IN

for $285,000 with 5 bedrooms and 3 full baths. This home was built in 1876 on a lot size of 0.1282.

Fully leased, completely remodeled investment property in the Michigan City! 3 unit with total of 5 BR & 3 BA (3 bed/1 bath, 1 bed/1 bath, large 1 bed/1 bath), 1 unit up and 2 on the main level. New windows, roof, plumbing, furnaces and all interior finishes. Gas & electric paid by Tenants, water/sewer is landlord paid. Total monthly rent of $2,700/mo and units are leased to June '24, Nov '24, and Apr '25 CAP rate is over 9.0. Close to the brand new south shore station for an easy trip to Chicago, South Bend, or in between.

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Multi-Family Active

Price

$ 285,000

Bedrooms

5

Full Bath

3

Property Type

Multi-Family

Taxes

$ 2,374

Style

Triplex

Lot Size

0.1282

Year Built

1876

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

801265
Features
General
Interior Features None
Sewer Public Sewer
Heating Forced Air Natural Gas
Appliances Dishwasher Dryer Gas Range Refrigerator Washer
Exterior Features None
Patio/Porch Features Front Porch
Pool Features None
Year Built 1876
Township Michigan
Levels Two
Property SubType Triplex
Tax Year 2023
County La Porte
Net Operating Income 27466
Insurance Expense 1743
New Construction N
Property Type Residential Income
Subdivision Name Sanborns Add 02
Garage Y/N N
Rent Includes Sewer Water
Total Rooms 12
Status Active
City Michigan City
Lot Size Square Feet 5584.39
Street Name Lafayette
Tax Annual Amount 2374
Electric Expense 0
Current Financing Cash Conventional
Property Condition Updated/Remodeled
Lease Considered Y/N N
Standard Status Active
Tax Assessed Value 113500
Total Actual Rent 32400
Taxes 2374
Legal Description 42-01-33-158-014 SANBORNS 2ND LT 12 BLK 10 & 2 FT W SD LT 11 BLK 10.
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Exterior
Fencing None
Parking Features Gravel Off Street Parking Pad
Lot Features Corner Lot
Water Source Public
Total Parking 3
Lot Size Acres 0.1282
Lot Size Source Public Records
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Interior
Fireplace Y/N N
Above Grade Finished Area 2416
Full Baths 3
Half Baths 0
3/4 Baths 0
Street Suffix Street
Laundry Features Other
Total Bedrooms 5
Total Baths 3
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* Excluded Features
List By
Susan Beyler

Listing Agent

Harbor & Lake Real Estate, Llc

Broker

susan@harborandlake.com

Email

Affordability Calculator

$2,189
Per Month
91%
9%
0%
Monthly Principal & Interest
$1,991
Monthly Property Taxes
$198
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
1261196 Elementary School
1261197 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/25/2024$285,000 Listed Price

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1516 Lafayette Street, Michigan City, IN, 46360 is a Multi-Family Home for sale at $285,000 with a lot size of 0.1282. 1516 Lafayette Street has 5 bedrooms, 3.0 baths, and was built in 1876. The property's zip code is 46360 which is in Michigan City, IN

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