6618 Meadow Lane Ave Hammond, IN 46324
4
Beds
4
Baths
2,640
Sq Ft
8,320
Sq Ft Lot
Highlights
- Wood Flooring
- 4 Car Detached Garage
- Outdoor Storage
- No HOA
- Rear Porch
- Landscaped
About This Home
As of October 2024Amazing Investment Opportunity! FULLY OCCUPIED, 4 UNIT property situated near Hammond's Historic Downtown Corridor. All units have been updated in recent years and host 1 bed, 1 bath and feature a spacious living room and eat-in kitchen with stove and fridge, high ceilings, wood floors and beautiful trim throughout. New deck boards, new furnaces, and exterior tuckpointing were done around 2021. The full basement has freshly painted epoxy floors and includes secured storage rooms that could be rented to tenants for added income as well a a coin operated washer and dryer. Outside you'll find a private parking area that was recently paved plus a 4 car garage that's currently being used as storage by the owner but could be rented to tenants for additional income. Property currently sits at a 6.9% cap rate and projects to a 8.5%+ cap after rent stabilization. Tenants are responsible for electric and heat. Don't miss out on this great opportunity!
Last Agent to Sell the Property
House Curate Company, LLC License #RB14046467 Listed on: 07/20/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,760
Year Built
- Built in 1927
Lot Details
- 8,320 Sq Ft Lot
- Lot Dimensions are 50 x 166
- Landscaped
Parking
- 4 Car Detached Garage
Home Design
- Rubber Roof
Interior Spaces
- 2,640 Sq Ft Home
- 3-Story Property
Flooring
- Wood
- Tile
- Vinyl
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Full Bathrooms
Laundry
- Dryer
- Washer
Basement
- Laundry in Basement
- Natural lighting in basement
Outdoor Features
- Outdoor Storage
- Rear Porch
Utilities
- No Cooling
- Forced Air Heating System
- Heating System Uses Natural Gas
Listing and Financial Details
- Total Actual Rent $39,600
- Tenant pays for electricity, gas, hot water
- The owner pays for common area maintenance, water, trash collection, taxes, sewer, insurance
- Rent includes trash collection, water
- Assessor Parcel Number 45-06-12-131-011.000-023
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 4 Units
- Meadow Grove Add Subdivision
Amenities
- Laundry Facilities
Building Details
- Electric Expense $1,500
- Insurance Expense $1,100
- Trash Expense $840
- Water Sewer Expense $1,080
- New Taxes Expense $8,760
- Gross Income $39,600
- Net Operating Income $26,320
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 20, 2024
Closed on
Oct 10, 2024
Sold by
Omelas Nicolas
Bought by
Sadlowski Jacob
Seller's Agent
Erica Garcia
House Curate Company, LLC
Buyer's Agent
Angelo Torres
Simplify Your Move! Realty Inc
List Price
$379,000
Sold Price
$356,500
Premium/Discount to List
-$22,500
-5.94%
Views
72
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$12,000
Avg. Annual Appreciation
2.03%
Original Mortgage
$338,675
Outstanding Balance
$336,759
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$25,671
Purchase Details
Listed on
Mar 11, 2022
Closed on
Apr 12, 2022
Sold by
Bergren Ronald J and Bergren Colleen S
Bought by
Ornelas Nicolas
Seller's Agent
Erica Garcia
House Curate Company, LLC
List Price
$299,000
Sold Price
$299,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.03%
Purchase Details
Listed on
Mar 11, 2022
Closed on
Apr 6, 2022
Sold by
Bergren Ronald J and Bergren Colleen S
Bought by
Ornelas Nicolas
Seller's Agent
Erica Garcia
House Curate Company, LLC
List Price
$299,000
Sold Price
$299,000
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $356,500 | Chicago Title Insurance Compan | |
| Warranty Deed | -- | Chicago Title | |
| Warranty Deed | -- | Chicago Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $338,675 | New Conventional | |
| Previous Owner | $147,000 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/10/2024 10/10/24 | Sold | $356,500 | -5.9% | $135 / Sq Ft |
| 09/09/2024 09/09/24 | Pending | -- | -- | -- |
| 07/31/2024 07/31/24 | For Sale | $379,000 | +26.8% | $144 / Sq Ft |
| 03/11/2022 03/11/22 | Sold | $299,000 | 0.0% | $76 / Sq Ft |
| 03/11/2022 03/11/22 | For Sale | $299,000 | -- | $76 / Sq Ft |
Source: Northwest Indiana Association of REALTORS®
Tax History Compared to Growth
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 | $13,938 | $286,400 | $28,500 | $257,900 |
| 2023 | $7,830 | $291,600 | $28,500 | $263,100 |
| 2022 | $7,761 | $289,600 | $27,300 | $262,300 |
| 2021 | $4,283 | $158,000 | $27,300 | $130,700 |
| 2020 | $4,575 | $167,600 | $27,300 | $140,300 |
| 2019 | $5,565 | $167,600 | $27,300 | $140,300 |
| 2018 | $5,427 | $165,400 | $27,300 | $138,100 |
| 2017 | $5,916 | $157,900 | $27,300 | $130,600 |
| 2016 | $4,993 | $153,000 | $27,300 | $125,700 |
| 2014 | $4,746 | $151,500 | $27,700 | $123,800 |
| 2013 | $4,427 | $149,300 | $27,700 | $121,600 |
Source: Public Records
Agents Affiliated with this Home
-
Seller's Agent in 2024
Erica Garcia
House Curate Company, LLC
(219) 313-0140
35 in this area
108 Total Sales
-
Buyer's Agent in 2024
Angelo Torres
Simplify Your Move! Realty Inc
(219) 718-6206
7 in this area
38 Total Sales
-
Buyer Co-Listing Agent in 2024
Jason Moon
Trueblood Real Estate, LLC
(219) 775-0869
11 in this area
626 Total Sales
Map
Source: Northwest Indiana Association of REALTORS®
MLS Number: 807232
APN: 45-06-12-131-011.000-023
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.
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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