1611 Homewood Ave, Mishawaka IN 46544

1611 Homewood Ave, Mishawaka, IN 46544 - Lease/Option (Rent to Own), Low Down, 3 bedroom, Unlock the Potential with Sweat Equity! Great location, great price and terms

House - Mishawaka IN

**Rent-to-Own Opportunity at 1611 Homewood Ave, Mishawaka, IN – Unlock Potential with Sweat Equity!**

**Property Details**:
Experience the potential of 1611 Homewood Ave, a promising 3-bedroom, 1-bathroom home spanning nearly 1200 sq ft. While this property requires cosmetic updates, it offers a significant opportunity for sweat equity, allowing you to increase its value through your improvements.
**Key Features**:
– **3 full Bedrooms**: Three comfortable bedrooms provide ample living space.
– **New Roof Installation**: A brand new roof will be installed within the next 6 weeks, complete with a 5-year warranty from the contractor.
– **As-Is Condition**: The home is offered as-is, inviting you to shape it according to your tastes and needs.

**Financial Overview**:
– **Purchase Price**: $117,000.
– **Monthly Rent**: $1,100.
– **Down Payment**: $3,000, which will be credited towards the home purchase.
– **Purchase Credits**:
  – **First 12 Months**: Receive $500 per month in purchase credits.
  – **Subsequent Months**: Continue building equity with $200 per month in credits.

**Investment Potential**:
With comparable homes in the area valued at upwards of $180,000 after renovations, this property represents a remarkable investment. The rent-to-own setup is perfect for those who wish to gradually transition from tenant to homeowner, making renovations along the way to add value.