Asset Based Lending recently funded a property purchase in Valparaiso, Indiana with a first-time borrower and real estate investor with our DSCR rental loan program. The property was purchased for $350,000 with a loan amount of $280,000 and an appraised amount of $360,000. Nestled in Valparaiso, Indiana, a charming suburb of Chicago and known as the hometown of Orville Redenbacher. This multi-income bedroom rental presents a lucrative opportunity for the borrower’s real estate portfolio. The property, fully furnished and having a total of 7 bedrooms along with a studio (converted from a 2-car attached garage for related living), generates a current gross income of $5,200 per month, with expectations for future increases. The residence features two full baths and underwent a comprehensive remodel in 2007, including new windows, a modern kitchen with Whirlpool dishwasher, upgraded heating and air conditioning systems, and electrical enhancements. Additionally, the roof is 8 years old, ensuring long-term structural integrity. Conveniently situated within walking distance of downtown, Valparaiso University, the library, parks, grocery stores, and more, the property offers accessibility and convenience. The 2.5 detached garage at the rear of the premises, along with a privacy-fenced yard, adds to its appeal. With a DSCR of 1.67 this investment opportunity provides the borrower both stability and potential for growth in the thriving Valparaiso real estate market.