505 E 53rd Ct Merrillville, IN 46410
3bd, 1ba | 1,425sqft | Built in 1962
investment property - 505 E 53rd Ct, Merrillville, IN 46410, Lake - image 0
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investment property - 505 E 53rd Ct, Merrillville, IN 46410, Lake - image 0
investment property - 505 E 53rd Ct, Merrillville, IN 46410, Lake - image 1
investment property - 505 E 53rd Ct, Merrillville, IN 46410, Lake - image 2
List Price
$153,900
Initial Investment : $157,454
Purchase Price
$153,900
Down Payment
100%
Rent
$1,350

Total Return
$53,850
Annualized Return
6.7%
Cap Rate
6.1%
Gross Yield
10.5%
Cash Flow
$8,830
Appreciation
2.0%
Features
Occupancy
Occupied
Lease Start
07/27/2018 
Lease End
10/31/2020 
Lot Size
8,756 
HOA
None
Flood Risk
Not Required
  • Seller completed all immediate repairs 6/7/19
  • 3-star neighborhood
  • Easy access to Gary/Chicago International Airport

Annual Financial Highlight
Expected Rent
$15,390
Expenses
-$3,560
Property Taxes
-$3,000
Loan Payments
$0

Net Cash Flow
$8,830
Considerations
Property Characteristics    View Details



Inspection Contingency
This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract. If any prior inspection reports are available, you'll find them in the Diligence Documents (Analysis tab).  If the latest inspection report is more than 4 months old, the home will be listed with an inspection contingency.
  • This property will be professionally inspected before closing.
  • You’ll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.
  • Roofstock will let you know whether the property passes Roofstock Certification. If it fails, and you choose to carry on with the transaction, the Roofstock Guarantee will no longer apply unless issues are resolved prior to closing. 

Property Management   

Why choose?

From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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