815 W 25th Ave Gary, IN 46407
Midtown NeighborhoodEstimated payment $667/month
Highlights
- No HOA
- Front Porch
- Forced Air Heating System
About This Home
Turnkey Rental Property. 9.3 Cap Rate!Investor special! This 3-bedroom, 1-bath single-family home offers an excellent opportunity to build or expand your portfolio with a solid return. Currently occupied by a reliable long-term tenant on a month-to-month lease at 1,000 per month, this property provides immediate income with a 9.3 cap rate at the current asking price. The home features a newer roof and windows, offering peace of mind and reduced maintenance costs. The tenant has been in place long term, offering stability with flexibility for future plans. Located in a strong rental market, this home is ideal for investors seeking cash flow now and value-add potential later.With 12,000 in annual gross income and minimal vacancy risk, the numbers make sense from day one. The property is being sold As Is, with plenty of upside for future rent increases or improvements that could boost value and returns. Whether you're a seasoned investor or just getting started, this is a smart, cash-flowing asset ready to work for you immediately.Contact an agent today to schedule your private tour!
Listing Agent
Weichert, Realtors-Moke Agency License #RB20001421 Listed on: 07/16/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $1,520
Year Built
- Built in 1945
Interior Spaces
- 636 Sq Ft Home
- 1-Story Property
- Laundry on lower level
- Basement
Bedrooms and Bathrooms
- 3 Bedrooms
- 1 Full Bathroom
Parking
- 2 Parking Spaces
- Off-Street Parking
Outdoor Features
- Front Porch
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
Listing and Financial Details
- Tenant pays for all utilities, sewer, water, trash collection, gas, electricity
- The owner pays for insurance, taxes, repairs
- Assessor Parcel Number 450816330006000004
Community Details
Overview
- No Home Owners Association
- Garfield Park Add Subdivision
Pet Policy
- Pets Allowed
Building Details
- Insurance Expense $1,410
- New Taxes Expense $1,520
- Gross Income $1,200
- Net Operating Income $9,070
Map
Home Values in the Area
Average Home Value in this Area
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 | $5,325 | $56,400 | $3,500 | $52,900 |
| 2023 | $1,673 | $60,400 | $9,600 | $50,800 |
| 2022 | $1,750 | $62,300 | $9,600 | $52,700 |
| 2021 | $1,632 | $58,000 | $9,600 | $48,400 |
| 2020 | $1,360 | $47,400 | $9,600 | $37,800 |
| 2019 | $1,694 | $47,400 | $9,600 | $37,800 |
| 2018 | $3,192 | $47,400 | $9,600 | $37,800 |
| 2017 | $1,826 | $47,800 | $9,600 | $38,200 |
| 2016 | $1,783 | $46,200 | $9,600 | $36,600 |
| 2014 | $1,433 | $52,400 | $9,600 | $42,800 |
| 2013 | $1,340 | $50,300 | $9,600 | $40,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/16/2025 07/16/25 | For Sale | $97,500 | +178.6% | $117 / Sq Ft |
| 09/27/2023 09/27/23 | Sold | $35,000 | -12.5% | $42 / Sq Ft |
| 09/20/2023 09/20/23 | Pending | -- | -- | -- |
| 07/14/2023 07/14/23 | For Sale | $40,000 | -- | $48 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $35,000 | Meridian Title | |
| Public Action Common In Florida Clerks Tax Deed Or Tax Deeds Or Property Sold For Taxes | $500 | None Available | |
| Interfamily Deed Transfer | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $62,250 | New Conventional |
Source: Northwest Indiana Association of REALTORS®
MLS Number: 824395
APN: 45-08-16-330-006.000-004
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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