Closed

$250,000

1516 Lafayette St, Michigan City, IN 46360

5beds

--sqft

Triplex

Built in 1876

-- sqft lot

$264,300 Zestimate^®

$--/sqft

$1,642 Estimated rent

Home value

$264,300

$214,000 - $328,000

$1,642/mo

Zestimate^® history

Owner options

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$1,642/mo

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$1,642/mo

Rent Zestimate^®

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$1,618/mo

Est. payment

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$1,618/mo

Est. payment

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What's special

New windows

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 '25, 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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 3
Full bathrooms: 3

Heating

Forced Air, Natural Gas

Appliances

Included: Dishwasher, Refrigerator, Washer, Dryer
Laundry: Other

Features

None
Basement: Unfinished
Has fireplace: No

Interior area

Finished area above ground: 2,416

Property

Parking

Total spaces: 3
Parking features: Gravel, Parking Pad, Off Street

Features

Levels: Two
Patio & porch: Front Porch
Exterior features: None
Pool features: None
Fencing: None

Lot

Size: 5,584 Square Feet
Features: Corner Lot

Details

Parcel number: 460133158014.000022

Construction

Type & style

Home type: MultiFamily
Property subtype: Triplex

Condition

Updated/Remodeled
New construction: No
Year built: 1876

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: Sanborns Add 02

Location

Region: Michigan City

Financial & listing details

Tax assessed value: $113,500
Annual tax amount: $2,374
Date on market: 9/3/2024
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Conventional
Total actual rent: 32400

Price history

Date	Event	Price
12/30/2024	Sold	$250,000-3.8%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
10/20/2024	Contingent	$260,000
Source: NIRA as distributed by MLS GRID #801265 Report a problem
10/17/2024	Price change	$260,000-1.9%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
9/3/2024	Listed for sale	$265,000
Source: NIRA as distributed by MLS GRID #801265 Report a problem
7/31/2024	Listing removed	--
Source: NIRA as distributed by MLS GRID #801265 Report a problem
7/8/2024	Price change	$265,000-1.5%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
6/4/2024	Price change	$269,000-3.6%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
5/2/2024	Price change	$279,000-2.1%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
3/25/2024	Listed for sale	$285,000+519.6%
Source: NIRA as distributed by MLS GRID #801265 Report a problem
10/21/2023	Listing removed	--
Source: Zillow Rentals Report a problem
9/1/2023	Listed for rent	$750-25%
Source: Zillow Rentals Report a problem
6/16/2023	Listing removed	--
Source: Zillow Rentals Report a problem
6/5/2023	Listed for rent	$1,000
Source: Zillow Rentals Report a problem
2/5/2021	Sold	$46,000-41.8%
Source: Public Record Report a problem
9/17/2020	Listing removed	$79,000
Source: d'aprile properties #480483 Report a problem
9/1/2020	Pending sale	$79,000
Source: d'aprile properties #480483 Report a problem
8/25/2020	Listed for sale	$79,000+216%
Source: d'aprile properties #480483 Report a problem
12/26/2006	Sold	$25,000-63.2%
Source: NIRA as distributed by MLS GRID #171495 Report a problem
8/21/2006	Sold	$68,000
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$1,431 -35.3%	$138,400 -3.3%
2024	$2,212 -2.6%	$143,100 +29.4%
2023	$2,270 +76.5%	$110,600 -2.6%
2022	$1,286 -36.7%	$113,500 +8%
2021	$2,030	$105,100 +3.5%
2020	$2,030 -85.2%	$101,500
2019	$13,671 -28.2%	$101,500 +14.4%
2018	$19,038 +16.3%	$88,700 +15.5%
2017	$16,366 +921.6%	$76,800 -3.2%
2016	$1,602 -1.6%	$79,300 -2.5%
2014	$1,628 +3.4%	$81,300 +3.3%
2013	$1,574	$78,700 -18.5%
2010	--	$96,600 +19.1%
2006	$1,790	$81,100 +20.9%
2005	--	$67,100