Overview
This Land Foreclosure is located at Madison St, Gary, IN 46402. This property is currently bank owned with an estimated market value of $27,000.
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This land property is available as a foreclosure at Madison St. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Gary, specifically for Madison St and comparable listings. Based on this expert analysis, the estimated market value is $27,000. If purchased for rental purposes, the monthly rental rate could range between $740 and $1,100, providing a solid return on investment. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on Madison St are updated daily along with others in Gary, Indiana, ensuring you have the most current and accurate information. Since this property is a foreclosure, be sure to check out our Foreclosure Timeline for Madison St below to see detailed and helpful information about what stage of the foreclosure process this listing is in.
Plus with taxes and insurance
Based on 20% down, 30 year mortgage, with 6% APR
All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependent on credit scores, loan timeline, and a down payment amount.
Not in Foreclosure
Pre-Foreclosure
Auction
Bank Owned
There are 4 schools in the area. Nearby schools include Gary West Side High School and William A. Wirt/Emerson School of Excellence.
There are plenty of activities near this property like Gary Public Library, Genesis Convention Center, and more.
Public transportation options include: South Shore Line train service to Chicago, Local bus services provided by NIRPC, Access to major highways for personal travel. Other services include ride-sharing services like Uber and Lyft.
Parks nearby include Gary's Miller Park, Marquette Park and more.
Services available in the area include cellular and internet options.
This property in Gary, IN is located in the Gary Land Cos 1st Sub Subdivision.
The property located at Madison St in Gary, IN is listed as a Foreclosure
Properties like Madison St in Gary, Indiana listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Gary, IN. The longer lenders own properties like this on Madison St, the more eager they become to sell, often at reduced prices.Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for Madison St located in Gary, IN is $952/month. Comparable homes around Madison St that are rentals have monthly ranges starting as low as $740 per month and as high as $1,100 per month. An owner looking to use this property as an investment could bring a return in the area of $740 - $1,100 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
| Start Date | End Date | Listing Type | Bank Name |
|---|---|---|---|
| 05/13/25 | Foreclosure | ||
| 09/16/20 | 09/16/21 | Tax Lien | |
| 09/12/18 | 09/12/19 | Tax Lien | |
| 09/07/11 | 09/27/11 | Preforeclosure |
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