NOT LISTED FOR SALE

1061 Van Buren St Gary, IN 46402

Midtown Neighborhood

Estimated Value: $51,000 - $102,000

4 Beds
2 Baths
1,791 Sq Ft
$42/Sq Ft Est. Value

Last Sold April 12, 2024

Last sale price $54,900 $31 Per Sq Ft

Est. 36% increase in value since last sale

Current estimated payment $483/month

156 Days on Market

About This Home

As of April 2024

Welcome to your next real estate investment! A fully rented two-unit property that's ready to generate steady income while offering potential for value appreciation.This property boasts two fully rented units, one tenant is on month to month and the other tenant has a year lease. While it's already a cash flow generator, a few repairs can elevate its value even further, allowing you to maximize your return on investment. While the garage may need some work, it's a valuable asset. This property has a spacious basement, offering an untapped resource for additional storage or potential expansion.With both units already occupied, you can enjoy immediate rental income from day one. The property's consistent rental history assures a reliable cash flow stream, providing you with peace of mind as you build your real estate portfolio. Schedule your showing today! Property being Sold As Is''.

Last Agent to Sell the Property

Sharae Wesson

SLW Realty Group Corporation License #RB14032487 Listed on: 10/09/2023

Last Buyer's Agent

Sharae Wesson

SLW Realty Group Corporation License #RB14032487 Listed on: 10/09/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,129

Year Built

  • Built in 1927

Lot Details

  • 3,615 Sq Ft Lot
  • Lot Dimensions are 30x121

Parking

  • 2 Car Detached Garage

Home Design

  • Brick Foundation

Interior Spaces

  • 1,791 Sq Ft Home
  • Elevator
  • Wood Flooring
  • Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Listing and Financial Details

  • Total Actual Rent $19,200
  • Tenant pays for electricity, gas
  • The owner pays for sewer, water
  • Assessor Parcel Number 450809206006000004

Community Details

Overview

  • 2 Units
  • Gary Land Companys 11 Subdivision

Building Details

  • Insurance Expense $1,500
  • Water Sewer Expense $1,200
  • New Taxes Expense $1,129
  • Net Operating Income $14,171

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,129

Year Built

Built in 1927

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1927
  • Reso Property Sub Type: Duplex
  • ResoOtherEquipment: None
  • Co List Office Mls Id: NRA1530
  • Subdivision Name: Gary Land Companys 11
  • Above Grade Finished Sq Ft: 1791
  • Garage Yn: Yes
  • New Construction: No
  • WaterExpense: 1200.00
  • SewerExpense: 1200.00
  • NumberOfStores: 0
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Elevator
  • Basement: Full
  • Flooring: Hardwood
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Acres: 0.083
  • Construction Type: Brick, Vinyl Siding

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Detached

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Sewer Available
  • Water Source: Public

Lot Info

  • Lot Dimensions: 30x121
  • Lot Size Sq Ft: 3615
  • Parcel #: 450809206006000004

Rental Info

  • Lease Term: Month To Month
  • Tenant Pays: Electricity, Gas
  • Owner Pays: Sewer, Water
  • LeaseType: Net

Tax Info

  • Year: 2023
  • New Taxes Expense: 1129
  • Tax Annual Amount: 1129

Multi Family

  • Number Of Units Total: 2
  • Insurance Expense: 1500
  • Total Actual Rent: 19200

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 9, 2023
Closed on
Mar 19, 2024
Sold by
Comfortable Living Llc
Bought by
Chavez Humberto Salazar and Martinez Martha A
Seller's Agent
Sharae Wesson
SLW Realty Group Corporation
Buyer's Agent
Sharae Wesson
SLW Realty Group Corporation
List Price
$70,000
Sold Price
$54,900
Premium/Discount to List
-$15,100
-21.57%
Views
312
Current Estimated Value
$74,898

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$19,998
Avg. Annual Appreciation
26.31%

Purchase Details

Closed on
Mar 2, 2016
Sold by
Powell Bennett
Bought by
Quitclaims To Comfortable Living Llc

Purchase Details

Closed on
Sep 21, 2015
Sold by
Common Felicia D
Bought by
Powell Bennett

Purchase Details

Closed on
Dec 29, 2006
Sold by
Fannie Mae
Bought by
Common Felecia D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,000
Interest Rate
6.19%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Oct 6, 2006
Sold by
Cooper Daniel R and Cooper Julie E
Bought by
Federal National Mortgage Association
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Chavez Humberto Salazar $54,900 None Listed On Document
Quitclaims To Comfortable Living Llc -- None Available
Powell Bennett $900 None Available
Common Felecia D -- Ticor Mo
Federal National Mortgage Association $40,402 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Common Felecia D $92,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/12/2024 04/12/24 Sold $54,900 -21.6% $31 / Sq Ft
03/13/2024 03/13/24 Pending -- -- --
02/13/2024 02/13/24 For Sale $70,000 0.0% $39 / Sq Ft
02/02/2024 02/02/24 Pending -- -- --
12/22/2023 12/22/23 Price Changed $70,000 -6.7% $39 / Sq Ft
10/10/2023 10/10/23 For Sale $75,000 0.0% $42 / Sq Ft
10/10/2023 10/10/23 Off Market $75,000 -- --
10/09/2023 10/09/23 For Sale $75,000 -- $42 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,479 $52,100 $4,600 $47,500
2023 $1,281 $50,800 $4,600 $46,200
2022 $1,068 $41,700 $1,800 $39,900
2021 $984 $38,400 $1,800 $36,600
2020 $940 $36,700 $1,800 $34,900
2019 $885 $39,600 $1,800 $37,800
2018 $1,145 $49,600 $1,800 $47,800
2017 $1,160 $50,900 $1,800 $49,100
2016 $1,194 $53,200 $1,800 $51,400
2014 $1,402 $59,900 $2,100 $57,800
2013 $1,294 $57,600 $2,100 $55,500
Source: Public Records

Agents Affiliated with this Home

  • Sharae Wesson

    Seller's Agent in 2024

    Sharae Wesson

    SLW Realty Group Corporation

    (219) 902-6181

    2 in this area

    83 Total Sales

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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 539948

Northwest Indiana Association of REALTORS®

APN: 45-08-09-206-006.000-004

Indiana Lake County Gary 46402 Midtown

1061 Van Buren St, Gary, IN

This home is located at 1061 Van Buren St, Gary, IN 46402 since 09 October 2023 and is currently estimated at $74,898, approximately $41 per square foot. This property was built in 1927. 1061 Van Buren St is a home located in Lake County with nearby schools including Beveridge Elementary School, Gary Middle School, and West Side Leadership Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Indiana Association of REALTORS® Copyright 2025 MuItiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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