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522 W Davis Street

Bloomington, IN 47403
  • $674,900
  • STATUS: Cont-AccptngBackupOffers
  • ON SITE: 83 Days
  • MLS #: 202343620
UPDATED: 48 min ago
$674,900
  • 6
    BEDS
  • 0.57
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
  • 3,252
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1946
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Listing provided by Deborah Tomaro of Deb Tomaro Real Estate: deb.tomaro@homefinder.org.

Description

$6730 is the expected monthly rental income once the rent increase approval process is completed. Half have already been approved and activated for March/April. Super low maintenance with excellent income. This property was taken down to the studs within the past ten years and completely updated with new electric, plumbing, windows, roof, doors, HVAC, sewer line, flooring. Dry basement with drainage work completed, new gutters, buried downspouts. Maintenance calls are almost non-existent. No carpeting makes for easy turnovers (not that there are many turnovers). Lots of nice touches like intercom for second floor units to avoid running up and down stairs to answer the door and motion sensor lights. All the current tenants are in the HCV or HUD-VASH (for Veterans) programs. Rents are guaranteed and direct deposited to landlord. Landlord pays electric, water/sewer and trash. Shared heat pump HVAC have their own zone controls. Efficient heat pump water heater with storage tank provides plenty of hot water. Utilities average $100-$125 per unit per month. Coin operated laundry is on site (included in the sale). HAND permit expires April 2028. Situated on 3 city lots (development potential?) on the edge of McDoel Gardens (not included in the historic district restrictions) and just a few blocks from the new Hopewell Development that is rejuvenating the old Hospital site to create a new core neighborhood with parks, plazas and mixed use space. **Numbers in listing are based on rent increases that will be realized in 2024.**

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© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Barnes Real Estate Services | North Eastern Group Realty. Data last updated: 2024-02-26T17:30:16.583.

www.housesinfortwayne.com/homes/145751426
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522 W Davis Street Bloomington, IN 47403

  • Price: $674,900
  • Status: Cont-AccptngBackupOffers
  • On Site: 83 Days
  • Updated: 48 min ago
  • MLS #: 202343620
6
Beds
6
Baths
0
½ Baths
0.57
Acres
3,252
SQFT
$208
$/SQFT
1946
Built
Neighborhood:
None
County:
Monroe
Area:
Monroe
Elementary School:
Templeton
Middle School:
Jackson Creek
High School:
Bloomington South
School District:
Monroe County Community School C
Property Description
$6730 is the expected monthly rental income once the rent increase approval process is completed. Half have already been approved and activated for March/April. Super low maintenance with excellent income. This property was taken down to the studs within the past ten years and completely updated with new electric, plumbing, windows, roof, doors, HVAC, sewer line, flooring. Dry basement with drainage work completed, new gutters, buried downspouts. Maintenance calls are almost non-existent. No carpeting makes for easy turnovers (not that there are many turnovers). Lots of nice touches like intercom for second floor units to avoid running up and down stairs to answer the door and motion sensor lights. All the current tenants are in the HCV or HUD-VASH (for Veterans) programs. Rents are guaranteed and direct deposited to landlord. Landlord pays electric, water/sewer and trash. Shared heat pump HVAC have their own zone controls. Efficient heat pump water heater with storage tank provides plenty of hot water. Utilities average $100-$125 per unit per month. Coin operated laundry is on site (included in the sale). HAND permit expires April 2028. Situated on 3 city lots (development potential?) on the edge of McDoel Gardens (not included in the historic district restrictions) and just a few blocks from the new Hopewell Development that is rejuvenating the old Hospital site to create a new core neighborhood with parks, plazas and mixed use space. **Numbers in listing are based on rent increases that will be realized in 2024.**
Exterior Features

Exterior Wood Lot Description Level Lot Dimensions n/a Outbuilding None Parking Spaces 10 Pool YN No Style Two Story Waterfront YN No

Interior Features

Above Grade Bedrooms 5 Above Grade Finished Sqft 2468 Above Grade Unfin Sq Ft 0 Amenities Basement Basement Foundation Partial Basement Basement YN Yes Below Grade Baths 1 Below Grade Bedrooms 1 Below Grade Finished Sqft 784 Below Grade Unfin Sq Ft 0 Cooling Central Air Dishwashers 0 Disposals 0 Dryers 1 Flooring Vinyl Heating Fuel Geothermal Microwaves 0 Ranges Ovens 6 Refrigerators 6 Rooms Below Grade 2 Total Baths 6 Total Below Grade Sqft 784 Total Sq Ft 3252 Wash Dry Hookups 1 Washers 1

Property Features

Annual Electric Expense 4800 Annual Fuel Expense 0 Annual Gross Rent 80760 Annual Insurance Expense 2200 Annual Maint Expense 0 Annual Misc 0 Annual Net Income 65511.04 Annual Property Tax 3848.96 Annual Trash Expense 800 Annual Water Sewer Exp 3600 Assoc Dues Frequency Not Applicable Auction Y / N No Buildings 1 Efficiencies 2 For Sale Or Rent For Sale Four Bedrooms 0 Gross Monthly Income 6730 Gross Monthly Rent 6730 Lease Term 1 Year New Construction No Occup Permit YN Yes One Bedrooms 4 Owner Pays ElectricFuelHeatingLawn MaintenanceMaintenanceSewerTaxTrash CollectionWater Owner Real Estate License YN No People Allowed 30 Permit Expiration 2028-04-19 Pet Restrictions YN Yes Planned Unit Dev YN No Property Sub Type Apartment Building Reo YN No Sale Includes BuildingLand Sewer City Tenant Pays Other Three Bedrooms 0 Township Perry Two Bedrooms 0 Units Rented 6 Water Utility City Year Taxes Payable 2023

Listing provided by Deborah Tomaro of Deb Tomaro Real Estate: deb.tomaro@homefinder.org.

© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Barnes Real Estate Services | North Eastern Group Realty.


© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Barnes Real Estate Services | North Eastern Group Realty. Data last updated: 2024-02-26T17:30:16.583.

 
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Barnes Real Estate Services | North Eastern Group Realty
10808 La Cabreah Ln
Fort Wayne IN, 46845
Listing provided by Deborah Tomaro of Deb Tomaro Real Estate: deb.tomaro@homefinder.org.