616 Mechanic Street

Fort Wayne, IN 46808

$199,999
Price
5
Beds
4
Baths
2,062 Sq. Ft.
$97 / Sq. Ft.
2,062
Sq. Ft.
$97
per Sq. Ft.

Description

Are you a seasoned investor looking to expand your portfolio or a first-time investor seeking an investment opportunity? Welcome to this fantastic 4-plex in a prime location! Nestled within walking distance to downtown and other amenities, this four-unit property offers convenience and potential for lucrative returns. With three units rented you can start generating income immediately. New roof (Shingles only) in 2020. Home Warranty Included. Schedule your showing today!Are you a seasoned investor looking to expand your portfolio or a first-time investor seeking an investment opportunity? Welcome to this fantastic 4-plex in a prime location! Nestled within walking distance to downtown and other amenities, this four-unit property offers convenience and potential for lucrative returns. With three units rented you can start generating income immediately. New roof (Shingles only) in 2020. Home Warranty Included. Schedule your showing today!
  1. Listed by Sara Arevalo • CENTURY 21 Bradley Realty, Inc
  2. Listed by Eddie Arevalo • CENTURY 21 Bradley Realty, Inc

Property Details for 616 Mechanic Street

Style
Two Story
Subdivision
Herbert E Eckarts
Waterfront
No
Pet Restrictions
Yes

Location

Listing Courtesy of CENTURY 21 Bradley Realty, Inc
Add your commute
LISTING UPDATED: 05/14/2024 01:30 AM

Property Details for 616 Mechanic Street

StatusActive
MLS #202404040
Days on Market81
Taxes$2,681 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Fourplex
Year Built1920
Lot Size0.06 AC / 2,500 SF
CountyAllen County

Location

Listing Courtesy of CENTURY 21 Bradley Realty, Inc
Add your commute

Building Information for 616 Mechanic Street

Stories2Residences4Year Built1920Building Size-Lot Size0.06 AC / 2,500 SF

Payment Calculator

$1,315 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,091

Property Taxes

$223

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 616 Mechanic Street

Summary
Location and General Information
  • Area: Allen County
  • City: Fort Wayne
  • Zip + 4: 3374
  • Zip Code: 46808
  • State: IN
  • Township: Wayne
  • Geo Latitude: 41
  • Geo Longitude: -85
  • Fips Code: 18003
  • Directions To Property: W Main St, Right on Mechanic (Between Boone St & Elm St)
Taxes and HOA
  • Assessed Value $: $85,500.00
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2023
  • Parcel Number Id: 02-12-03-409-012.000-074
School Information
  • School District: Fort Wayne Community
  • Elementary: Washington
  • Middle School: Portage
  • High School: Wayne
Parking
  • Number Of Parking Spaces: 0
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Fourplex
  • Approx Lot Size Acres: 0.06
  • Lot Dimensions: 50X50
  • Lot Number: 144
  • Below Grade Unfin Sqft: 525.0
  • Total Square Feet: 2587.0
  • Approx Lot Size Sqft: 2500.0
  • Above Grade Finished Sqft: 2062.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 525.0
  • Total Finished Sqft: 2062.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level
Property and Assessments
  • New Construction: No
  • Year Built: 1920
  • Age: 104
  • Planned Unit Development: No
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Basement
  • Exterior: Asbestos
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 4
  • Number of Refrigerators: 4
  • Number of W/D Hookups: 0
  • Number of Washers: 0
  • Basement: Yes
  • Basement/Foundation: Partial Basement
  • Cooling: None
  • Flooring: Carpet, Laminate, Other, Vinyl
  • Heating/Fuel: Gas, Forced Air
  • Stories: 2
  • Number of Above Grade Bedrooms: 5
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 5
  • Total Number of Full Baths: 4
  • Total Number of Half Baths: 0
  • Total Baths: 4
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 3
  • Num Of 2 Bedrooms: 1
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 4
  • Number of Units: 4
Income & Expenses Information
  • Annual Electric Expense: $2,900.00
  • Annual Fuel Expense: $1,700.00
  • Annual Gross Rent $: $28,200
  • Annual Insurance Expense: $1,300
  • Annual Maint. Expense: $500
  • Annual Misc: $900
  • Annual Net Income: $16,319
  • Annual Property Tax: $2,681
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $1,900
  • Gross Monthly Income: $2,350
  • Gross Monthly Rent: $2,350
Unit Information
Unit 1
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: No
  • Unit 1-Garage Type: None
  • Unit 1-Garage: No
  • Unit 1-Laundry Room: None
  • Unit 1-Level: Lower
  • Unit 1-Unit Number: A
  • Unit 1-Unit Rent $: $0
Unit 2
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Basement: Yes
  • Unit 2-Currently Rented: Yes
  • Unit 2-Laundry Room: None
  • Unit 2-Lease Exp Date: 03-31-2025
  • Unit 2-Level: Lower
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: B
  • Unit 2-Unit Rent $: $575
Unit 3
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 2
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: Yes
  • Unit 3-Garage Type: None
  • Unit 3-Garage: No
  • Unit 3-Laundry Room: None
  • Unit 3-Lease Exp. Date: 11-30-2024
  • Unit 3-Level: Upper
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: C
  • Unit 3-Unit Rent $: $625
Unit 4
  • Unit 4-Num of Bedrooms: 1
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: Yes
  • Unit 4-Garage Type: None
  • Unit 4-Garage: No
  • Unit 4-Laundry Room: None
  • Unit 4-Lease Exp Date: 02-28-2025
  • Unit 4-Level: Upper
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: D
  • Unit 4-Unit Rent $: $575
Rental
Rental Information
  • Lease Term: Month to Month, 1 Year
  • Owner Pays: Building Insurance, Electric, Heating, Lawn Maintenance, Maintenance, Sewer, Snow Removal, Tax, Trash Collection, Water
  • Tenant Pays: Electric, Heating, Sewer, Trash Collection, Water

Property History for 616 Mechanic 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 616 Mechanic Street

Taxable ValueLand$4,900Additions$80,600Total$85,500
Tax Record2023$1,955 ($163 / month)
Home Facts
Baths4Total Finished SqFt2,062 SqFtAbove Grade Finished SqFt2,062 SqFtStories3Lot Size2,500 SqFtStyleMulti-Family Dwelling (2-4)Year Built1920CountyALLENAPN02-12-03-409-012.000-074

Schools near 616 Mechanic Street

This home is within Fort Wayne Community Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Washington Elementary School
PublicPK to 5

Portage Middle School
Public6 to 8

Wayne High School
Public9 to 12

Anthis 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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616 Mechanic Street is a multi-family home for sale in Fort Wayne, IN 46808. This property was listed for sale on February 8, 2024 by CENTURY 21 Bradley Realty, Inc, it's currently listed at $199,999. It has been on the market for a total of 81 days and was last sold on September 11, 2020. This listing's school district is Fort Wayne Community Schools. Nearby schools include Washington Elementary School, Portage Middle School and Wayne High School. 616 Mechanic Street is a 5-bed, 4-bath, 2,062 sqft multi-family home built in 1920.

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 CENTURY 21 Bradley Realty, Inc

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. 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,Southeastern 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.