Multi-Family Space For Sale @ 3713 Nevada Ave

This 1,964 square foot home off of Lake Avenue near Coliseum Boulevard on the north side of the 46805 zip code in Fort Wayne has lots of space and tons of potential. It sits on a 0.63 acre lot and has lots of mature trees. It's taxed as a 3 bedroom home, but there is a potential 4th bedroom upstairs. The home is priced under its 2018 assessed value of $108,900 as it does need some work. The home wouldn't be in good enough condition for FHA or VA financing, though an FHA 203k loan where a buyer would borrow money to purchase the home and borrow additional money to fix it up might be an excellent option. Several local lenders offer that program, and some others offer comparable ones. Don't let the current taxes scare you. The home is currently occupied by tenants, so the owners don't currently live in it and don't have a Homestead exemption on the property for property tax purposes. If someone buys it who gets a Homestead exemption, and potentially other exemptions, the taxes could be cut in half or even more.