In the popular Chicago-area vacation spot of Harbor Country in Southwest Michigan, it is rare to find a home of any kind for less than $200,000. That’s especially true in the heart of the region, New Buffalo. So the listing of a two-bedroom, one-bath home on a double lot within walking distance from New Buffalo’s public beach priced at only $136,000 is certainly one that stands out. It is being offered by Ron Morales, a Realtor with Kellar Williams and owner of Waya Rentals. For the listing and photos, click here.
The home itself, located at 123 S. Taylor St., is in great shape. It’s very clean and well-kept, with an open layout, a bright kitchen and decent-sized bedrooms for a second home. The front porch wraps around the side of the home, offering plenty of space for a grill, dining table and chairs and lounge chairs. The lot – actually two separate lots being sold together – is very large, also in good condition, and offers tons of potential. Buyers could use this space for everything from hosting great outdoor parties (lots of room for badminton, bags, croquet, bocce ball, etc.), to creating a large private garden, to even building a separate structure, like a garage with an apartment or an entire separate home.
The location, in terms of proximity to New Buffalo’s conveniences, is also an asset. Buyers can walk to the public beach, dining options, nightlife, a grocery store, and the New Buffalo Amtrack station, offering service to and from Chicago.
However, it is important to note that the home is located east of US-12 (called Buffalo Street through town). The neighborhood feels much more residential than “beachy.” The other negative aspect to note is that the home does not include a washer and dryer, but Realtor Morales said that the owner has plans and an estimate available to buyers who would want to consider adding that.
For buyers interested in a property for use either entirely or even partially as a way to generate income, this home offers strong past performance. It has been managed by Waya Rentals for the past two years, generating roughly $7,000 to $9,000 annually and currently has four weeks of rental reservations in place through Waya Rentals.
Morales also noted that, thus far, 2012’s summer season is shaping up to be one of the best rental seasons in years for his company and that both rentals and sales in the New Buffalo area have been steadily improving.
“While we’re very lucky that the second-home market in the Chicago-area wasn’t hit nearly as badly as the market for primary residences, we still saw a bit of a downturn here, too,” he said. “However, this year has shown very strong signs of a sharp recovery, with homes receiving multiple offers and going under contract in less than 30 days. And the rental market is booming, too, with Waya Rentals seeing many of our properties book as far back as January for the summer. It’s all very encouraging for buyers looking to invest in this market.”
For more information on this and other homes offered for sale by Morales, visit www.wayasales.com; and to learn more about his second-home management program or to see available rental properties, visit ww.wayarentals.com.