APPROVED FOR FUNDING FROM OFFERMARKET CAPITAL - GET INSTANT LOAN QUOTE AND PRE APPROVAL

🏢 Investor Overview: 305, 309, 319 W 2nd St, Marion, IN 46952

Property Type: Commercial (zoned comm., adaptable)
Units: 8 potential (2 occupied)
Sqft: 40,000
Lot Size: Varies (combined est. ~0.92 acres)
Year Built: 1999-2021 (ownership transfers)
Occupancy: 2 tenants ($2,000/mo)
Asking Price: 💰 $225,000
ARV: $1.5M+ (up to $7.4M with apt conversion)
Potential Annual Rents: $130,000+ (up to $518,400 with 42 apts)
🔍 Property Snapshot

Type: Commercial (garage/warehouse shell)
Condition: Fair-good (305/319 fair, 309 open shell)
Occupancy: 25% (2/8 units)
📈 Valuation & ARV Range

ARV: $1.5M (commercial), $5.2M-$7.4M (apt conversion)
Comps: Strong downtown Marion demand
💵 DSCR Loan Analysis

Gross Income: $14,000/mo ($168,000/yr at full commercial)
Expenses (35%): ~$58,800/yr
NOI: ~$109,200/yr
DSCR: 1.45-1.60 (qualifies >1.2)
Terms: 20-25% down, 7.25-7.5% int, 30-yr
🔧 Rehab Scope

305 W 2nd (8,612 sqft): Lite ($129,180, $15/sqft)
309 W 2nd (32,148 sqft): Medium-heavy ($642K-$1.45M, $20-$45/sqft)
319 W 2nd (2,180 sqft): Lite-medium ($32,700, $15/sqft)
Total Commercial: $1.13M-$1.61M
Apt Conversion: $1.3M-$1.9M (70 units, $30-$40/sqft)
SOW: Trash-out ($50K-$75K), structural/insulation ($200K-$300K), partitions ($300K-$450K), HVAC/plumbing/electrical ($350K-$500K), kitchens/baths ($250K-$350K), finishes ($100K-$150K), permits ($50K-$75K)
💡 Investor Highlights

Upside: 40,000 sqft, flexible use
Income: $24K/yr now, $168K/yr (commercial), $518K/yr (apts)
Spread: $225K ask to $1.5M+ ARV
Best Use: Self-storage ($80K-$120K/yr, ROI 12-18%) or apts ($382K NOI, 15-25% ROI)
Location: Growing Marion downtown
📊 Quick Numbers

Purchase: $225K
Rehab (Commercial): $1.13M-$1.61M
All-In (Commercial): $1.36M-$1.84M
ARV (Commercial): $1.5M
Rehab (Apts): $1.3M-$1.9M
All-In (Apts): $1.5M-$2.1M
ARV (Apts): $5.2M-$7.4M
Rent Potential: $14K/mo ($168K/yr) comm, $43.2K/mo ($518K/yr) apts
ROI: 12-25% (strategy-dependent)

📦 More Off-Market Inventory?

Options: SFRs, duplexes, quads, turnkey, rehabs
Contact: Jamie Franklin, Acquire JDF Corp, 317-610-9834
Website: www.reioffer.net

More photos or info: https://docs.google.com/document/d/1pXq5ENlv-IvEqNQrlOVRqhUXnoQ-IPbVZXLXfrBJar0/edit?usp=sharing

⚠️ Important Notice: OfferMarket listings are third-party listings. For your safety, please use the "Talk to Seller" feature built into each listing. This allows our team to review communications and helps prevent scams on the platform.

Resources:

• Run the numbers with rehab costs using our Cash Offer Calculator.
• Run this scenario through our DSCR Calculator.
• Run this scenario through our Fix and Flip Calculator.

Ready to invest? OfferMarket is a real estate investing platform featuring off-market deals, private lending, investment property insurance. Get instant loan quote and pre-approval for this listing. Start exploring deals now!