Closed

$1,660,000

2063 W 86th Ave, Merrillville, IN 46410

24beds

--sqft

Duplex

Built in 2003

-- sqft lot

$752,100 Zestimate^®

$--/sqft

$1,617 Estimated rent

Home value

$752,100

$632,000 - $895,000

$1,617/mo

Zestimate^® history

Owner options

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$1,617/mo

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$1,617/mo

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$8,374/mo

Est. payment

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$8,374/mo

Est. payment

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What's special

Modern updatesPatio doorsStainless steel appliancesBuilt in microwave

Turnkey, updated, and stable investment opportunity! Built in 2003, these 4 fully occupied duplexes (8 total residential units) have been very well updated and maintained. The current annual gross rental income from all 8 units is $175,000. Each (half duplex) unit has 3 bedrooms, 2 bathrooms, an attached 2+ car garage, stainless steel appliances - including dishwasher and built in microwave, modern updates and layouts. Roofs, windows, and patio doors were replaced in 2022. Tenants pay the gas, electricity, and water utility bills. This is currently a very low maintenance, turnkey asset that has great upside and long-term benefits. It currently sits at a 6.2% cap rate, and projects to a 7+% cap after rent stabilization. Reach out to an agent for more detailed income and expense information, and for viewing times.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 24
Bathrooms: 16
Full bathrooms: 16

Heating

Forced Air, Natural Gas

Appliances

Included: Dishwasher, Refrigerator, Washer, Microwave, Free-Standing Gas Range, Dryer
Laundry: In Unit, Main Level

Features

None

Interior area

Finished area above ground: 1,240

Property

Parking

Total spaces: 2.5
Parking features: Driveway, Paved
Garage spaces: 2.5
Has uncovered spaces: Yes

Features

Levels: One
Patio & porch: Patio
Exterior features: Rain Gutters

Lot

Size: 0.26 Acres
Features: Level

Details

Has additional parcels: Yes
Parcel number: 451229227003.000030

Construction

Type & style

Home type: MultiFamily
Property subtype: Duplex

Condition

New construction: No
Year built: 2003

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: Maricopa Point Of Sedona

Location

Region: Merrillville

Financial & listing details

Tax assessed value: $391,600
Annual tax amount: $28,403
Date on market: 7/2/2024
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Other
Total actual rent: 174900
Road surface type: Asphalt, Paved

Price history

Date	Event	Price
6/28/2024	Sold	$1,660,000-1.2%
Source: NIRA as distributed by MLS GRID #802594 Report a problem
4/23/2024	Listed for sale	$1,680,000+1532.7%
Source: NIRA as distributed by MLS GRID #802594 Report a problem
10/30/2003	Sold	$102,900
Source: NIRA as distributed by MLS GRID #83002 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$6,274 +1%	$391,600 +24.2%
2024	$6,214 +7.2%	$315,200 -0.9%
2023	$5,796 +13.5%	$318,100 +9.8%
2022	$5,106 +4.2%	$289,800 +13.5%
2021	$4,902 +0.8%	$255,300 +4.2%
2020	$4,862 -12.3%	$245,100 +0.8%
2019	$5,546 +2.1%	$243,100 +5.8%
2018	$5,432 +11.5%	$229,700 +2.2%
2017	$4,871	$224,800 -0.6%
2016	$4,871 +1.7%	$226,100 +0.4%
2014	$4,788 -5.4%	$225,300 -1.4%
2013	$5,060 -15.2%	$228,400 +0%
2012	$5,966	$228,300 -1.9%
2009	--	$232,700