1516 Lafayette Street

Michigan City, IN 46360

$279,000
Price
5
Beds
3
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

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 '24, 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,...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 '24, 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.
  1. Listed by Susan Beyler • Harbor & Lake Real Estate, LLC
    P: (312) 925-7115 C: (312) 925-7115 susan@harborandlake.com

Property Details for 1516 Lafayette Street

Subdivision
Sanborns Add 02

Location

Listing Courtesy of Harbor & Lake Real Estate, LLC
Add your commute
LISTING UPDATED: 05/02/2024 12:05 PM

Property Details for 1516 Lafayette Street

StatusActive
MLS #801265
Days on Market42
Taxes$2,374 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1876
Lot Size0.13 AC / 5,584 SF
CountyLaPorte County

Location

Listing Courtesy of Harbor & Lake Real Estate, LLC
Add your commute

Building Information for 1516 Lafayette Street

Stories-Residences3Year Built1876Building Size-Lot Size0.13 AC / 5,584 SF

Payment Calculator

$1,720 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,523

Property Taxes

$198

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1516 Lafayette Street

Summary
Location and General Information
  • City/Town: Michigan City
  • State: IN
  • Township: Michigan
  • ZIP: 46360
  • Latitude: 41.70
  • Longitude: -86.89
  • County: La Porte
Taxes and HOA
  • Annual Tax Amount: $2,374.00
  • APN/Key #: 46-01-33-158-014.000-022
  • Tax Year: 2023
  • Tax Legal Description: 42-01-33-158-014 SANBORNS 2ND LT 12 BLK 10 & 2 FT W SD LT 11 BLK 10.
Parking
  • Garage Description: Gravel, Off Street, Parking Pad
Property
Lot Information
  • Lot Square Footage: 5,584.39
  • Square Footage Source: Assessor
  • Acres: .13
Property and Assessments
  • Property Type: Residential Income
  • Property Subtype 1: Triplex
  • Year Built: 1876
  • Lot Description: Corner Lot
Interior and Exterior Features
Exterior Features
  • Exterior Features: None
  • Levels: Two
Interior Features
  • Appliances: Dishwasher, Dryer, Gas Range, Refrigerator, Washer
  • Basement Type: Unfinished
  • Basement: Yes
  • Total Full Baths: 3
  • Total 1/2 Baths: 0
  • Total 3/4 Baths: 0
  • Total Baths: 3
  • Bedrooms: 5
  • Basement Sq Ft: 0.0
  • Cooling: None
  • Flooring: Luxury Vinyl
  • Equipment: None
  • Heat Type: Forced Air, Natural Gas
  • Interior Features: None
  • Total # of Rooms: 12
Multi Family
Multi-Family Information
  • # of Units: 3
Rental
Rental Information
  • TenantPays: Cable TV, Electricity, Gas

Property History for 1516 Lafayette Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1516 Lafayette Street

Taxable ValueLand$14,500Additions$96,100Total$110,600
Tax Record2023$2,374 ($198 / month)
Home Facts
Beds5Baths3Total Finished SqFt2,416 SqFtAbove Grade Finished SqFt2,416 SqFtStories2Lot Size5,586 SqFtStyleSingle Family ResidenceYear Built1876CountyLAPORTEAPN46-01-33-158-014.000-022

Schools near 1516 Lafayette Street

This home is within Michigan City Area Schools.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Marsh Elementary School
PublicK to 6

Martin T Krueger Middle School
Public7 to 8

Michigan City High School
Public9 to 12

A K Smith Area Career Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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1516 Lafayette Street is a multi-family home for sale in Michigan City, IN 46360. This property was listed for sale on March 24, 2024 by Harbor & Lake Real Estate, LLC, it's currently listed at $279,000. It has been on the market for a total of 42 days and was last sold on December 26, 2006. This listing's school district is Michigan City Area Schools. Nearby schools include Marsh Elementary School, Martin T Krueger Middle School and Michigan City High School. 1516 Lafayette Street is a 5-bed, 3-bath, multi-family home built in 1876.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Harbor & Lake Real Estate, LLC

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS, Northwest Indiana REALTORS® Association Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association, Northwest Indiana REALTORS® AssociationSoutheastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.