Lake County, Gary, IN 46409

Property Overview: Address: 4965 Massachusetts St, Gary, IN 46409 Type: Single Family Bedrooms / Baths: 4 Bed / 1.5 Bath Size: 1480 sq ft above grade Lot size: .1 acres Year Built: 1940 Occupancy: vacant Property Highlights: Off-market, not listed on the MLS Priced at less than a third of ARV: $60K asking vs. $200K ARV Glen Park, east of Broadway. Renovated 4-bed homes within a mile have sold for $204K to $225K in the last 9 months Quick-moving area: updated homes nearby have been going under contract in under 45 days Works as a flip, or as a BRRRR / long-term rental after rehab Repairs Needed: [Main items: roof, kitchen, baths, flooring, mechanicals, etc.] Estimated Repair Costs: $55K to $75K Tip: adding a second full bath is what puts this house in the $200K+ bracket. Every nearby sale above $200K has 2 or more full baths. ARV: $200,000 based on Comps (all within 1 mile, east of Broadway): 5173 Virginia St, Gary, IN 46409: 4 Bed / 2 Bath, 1,976 SqFt (built 1955), sold for $225,000 on 01/21/2026. 0.4 mi away. 5049 Indiana Pl, Gary, IN 46409: 5 Bed / 2.5 Bath, 1,776 SqFt (built 1960), sold for $214,900 on 06/30/2026. 0.9 mi away. 825 E 43rd Pl, Gary, IN 46409: 4 Bed / 2 Bath, 2,223 SqFt (built 1947), sold for $204,000 on 07/24/2026. 0.9 mi away. 4701 Carolina St, Gary, IN 46409: 3 Bed / 2 Bath, 1,392 SqFt, sold for $180,000 on 09/08/2026. 0.4 mi away. 1407 E 51st Pl, Gary, IN 46409: 3 Bed / 2 Bath, 1,800 SqFt, sold for $182,000 on 06/03/2026. 0.9 mi away. The Numbers: Purchase: $60,000 ARV: $200,000 70% rule: $200K × 70% = $140K, minus repairs. The deal works with up to $80K in rehab. Potential Rent Returns: Renovated 4-bed homes in Glen Park rent for about $1800/month, and Section 8 demand in the area is strong. Terms: Cash or hard money buyers only Sold as-is, no repairs or credits Earnest money: $2500, due within 24 hours of acceptance and non-refundable Proof of funds or a lender approval letter due within 24 hours of acceptance Closes through a title