Investment Snapshot

639 Illinois St is a recently renovated 2-bed, 1-bath ranch in Gary’s Emerson neighborhood, a pocket of compact single-family homes with consistent rental demand and modest holding costs. The home sits on a standard city lot with alley and street access, surrounded by similar bungalows and small residences that support straightforward rent comps and predictable tenant profiles. With a full basement, finished main level, and public utilities in place, the property functions as a simple, income-focused asset in a submarket where investors prioritize durability and cash flow over luxury finishes.

Value & Upside

Built in 1948 and updated top-to-bottom in recent years (siding, windows, roof, gutters, flooring, kitchen, bath, lighting, plumbing, and HVAC), the house behaves more like a stabilized turnkey than a heavy rehab project. Tile and vinyl flooring, modern fixtures, and efficient systems all help keep ongoing maintenance in check. With a tenant already in place and covering utilities, the property offers immediate income continuity and the option to hold long-term as the surrounding blocks see gradual reinvestment. For an investor building a small portfolio in Gary, 639 Illinois St is the kind of low-friction, renovated single-family that can anchor a buy-and-hold strategy while leaving room to capture future appreciation and modest rent growth over time.