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    5486 Old State Road

    New Castle, IN 47362
    • $279,900
    • STATUS: Active Under Contract
    • ON SITE: 223 days
    • MLS #: 10662098
    Under Contract
    $279,900
    • 0
      BEDS
    • 24.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,120
      SQFT
    • $250
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Lake Shama Mobile Home Park is a beautiful community located just outside of New Castle, IN. The park is bordered by Interstate 70 and includes a 1,120 sq ft single family residence, as well as a large private lake stocked with fish. The MHP consists of fourteen individual pads and one single family residence, for a total of fifteen rent-able units. The park due to its rural location has its own well and septic system. Both of these units are large enough to easily handle the daily usage for the community. Both of these units have been well maintained by current owner. The road is asphalt and is in average/above average shape. New Castle has approximately 18,000 residents and is located 44 miles northeast of Indianapolis. It is home to the Indiana Basketball Hall of Fame, as well as Steve Alford. The local high school has the largest high school gymnasium in the entire world. New Castle's largest employer is Lifeline Personal Response. Other larger employers include Henry Community Health, New Castle Correctional Facility, & the local Walmart Super Center. The park has been well cared for by the current owner for many years. He is now ready to slow down, and as a result that park is now available for purchase. This could be the perfect park for a smaller or beginning investor. This park should qualify for traditional lending.

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. 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 MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-24T23:50:25.49 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    5486 Old State Road New Castle, IN 47362

    • Price: $279,900
    • Status: Active Under Contract
    • MLS #: 10662098
    0
    Beds
    0
    Baths
    0
    ½ Baths
    24.11
    Acres
    1,120
    SQFT
    $250
    $/SQFT
    1964
    Built
    Neighborhood:
    Indiana and East
    County:
    Other
    Area:
    Indiana and East
    Property Description
    Lake Shama Mobile Home Park is a beautiful community located just outside of New Castle, IN. The park is bordered by Interstate 70 and includes a 1,120 sq ft single family residence, as well as a large private lake stocked with fish. The MHP consists of fourteen individual pads and one single family residence, for a total of fifteen rent-able units. The park due to its rural location has its own well and septic system. Both of these units are large enough to easily handle the daily usage for the community. Both of these units have been well maintained by current owner. The road is asphalt and is in average/above average shape. New Castle has approximately 18,000 residents and is located 44 miles northeast of Indianapolis. It is home to the Indiana Basketball Hall of Fame, as well as Steve Alford. The local high school has the largest high school gymnasium in the entire world. New Castle's largest employer is Lifeline Personal Response. Other larger employers include Henry Community Health, New Castle Correctional Facility, & the local Walmart Super Center. The park has been well cared for by the current owner for many years. He is now ready to slow down, and as a result that park is now available for purchase. This could be the perfect park for a smaller or beginning investor. This park should qualify for traditional lending.
    Exterior Features

    Lot Dimensions 1213 X 429 X 212 X 367 X 900 X 308 X 105 X 637 X 63 X 89 Lot Sq Ft 1050231 Number Of Parking Spaces 30

    Interior Features

    Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 0 Number Of Bedrooms Unit2 3 Number Of Bedrooms Unit3 0 Number Of Bedrooms Unit4 0 Number Of Full Bathrooms Type1 0 Number Of Full Bathrooms Type2 1 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 0 Number Of Rooms Unit2 5 Number Of Rooms Unit3 0 Number Of Rooms Unit7 0 Number Of Stories 1 Number Of Units Apt Type1 14 Number Of Units Apt Type2 1 Number Of Units Apt Type3 0 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Repairs Decor Expense 100

    Property Features

    Age Older Built Before1978 YN Yes Contingency Flag Attorney/Inspection Electricity Expense 2416 Expense Year 2019 Fuel Expense 0 Gross Rental Income Amount 34740 Heat Ventilation Electric Insurance Expense 1500 Janitor Expense 0 Monthly Income Max1 250 Monthly Income Max2 800 Net Oper Income Amount 26763 Net Operating Income Year 2019 Other Expenses 0 Tax Year 2018 Taxes 3306.60 Tenant Pays Air ConditioningElectricHeat Total Annual Exp 8356 Total Annual Expense Source Actual Total Annual Income 35120 Total Monthly Income 2926 Type Multi Family Other Unincorporated YN Yes Water Expense 0 Zoning Type Multi

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Mr. Landman.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. 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 MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-24T23:50:25.49 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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