“Inspect, Arrange Financing and Come Prepared to Bid your Price.”

Property Location

1015 Rivermet Ave., Fort Wayne, Indiana (View Map)

(1 block north of Lake - East of St. Joseph Blvd and West of Crescent)

Auction Location

On Site

Real Estate Description

Fully leased duplex with long term tenants. Garage rents separately for $55/mo. Each unit has separate utilities. New insulation in the entire home and a new furnace in theupper unit. Gas utilities in upper, electric in lower. Newer hot water heaters. Spacious back yard & room for off street parking off alley.

Unit 1-

Rent: $395.00
# of Rooms: 4
Bedrooms: 1
Bathrooms: 1
Basement: Yes
Utilities: Electric

Unit 2-

Rent: $300.00
# of Rooms: 3
Bedrooms: 1
Bathrooms: 1
Basement: No
Utilities: Gas

Garage-

Rent: $55.00
Size: 20' x 19'
Detached 2 Car

Financials / Lease Information

Unit 1 Rent: $395.00
Unit 2 Rent: $300.00
Garage Rent: $55.00
Gross Annual Rent: $9,000.00
Water/Sewer/Trash: $884.00
Insurance: $341.00
Property Tax: $998.00
Maintenance: $750.00
Net Annual Income: $6,027.00

Real Estate Inspection

Call Sale Manager for a private showing; 24 hour advanced notice required for showings.

Terms and Conditions

Method of Payment: A non-refundable earnest money deposit of 10% of the total purchase price will be required the day of sale with the balance due the day of final closing. Closing to be within 30 days of auction.  This real estate is being sold for cash and your bidding is not contingent upon financing.  Have your financing prearranged prior to auction day.

Buyer’s Premium:  In order to determine the final sales price of the real estate, a 5% buyer’s premium will be added to the winning bid.

Acceptance of Bid: Successful bidder will be required to enter into a purchase agreement immediately following auction at the site. The Seller reserves the right to accept or reject any bid. 

Title: Seller will provide Buyer with a commitment of title insurance in the amount of the purchase price insuring the transfer and marketability of title; Cost of said owners policy shall be split 50:50 between the Buyer and the Seller.  The cost for the insured closing fee shall be split 50:50 between Buyer and Seller.  Seller will provide Buyer with a fully executed deed transferring title to the Buyer.

Rents and Leases:  The leases shall be assigned to the Buyer at closing.  Any security deposits shall be transferred to the Buyer at closing as a credit on the closing statement.  Rents shall be prorated to the day of final closing.

Taxes: Taxes will be prorated to the day of final closing.

Possession:  Day of final closing; subject to tenant rights.

Survey: The seller will not provide Buyer with a survey.  If Buyer or Buyer’s lender requires a survey it will be at the sole cost of the Buyer.

Agency:  The Steffen Group is acting as the exclusive agent of the Seller.

Disclaimer and Absence of Warranties:  All information contained in the brochure and all related materials are subject to the terms and conditions outlined in the purchase agreement.  Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer.