1002-04 Wayne St

Gary, Indiana, 46403

Tax LienpendingSells Sep 8, 2026 · 32 days ago

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Beds: 1
Baths: 2
SqFt: 2,237
Lot Size: 3,136
Year Built: 2002
APN: 45-05-33-232-034.000-004

Property Type: Sfr
Distressed: Bank Owned
Vacant: No
Owner Type: Company
Length of Ownership: 15 Years 11 Months
Purchase Method: Cash Purchase
County: Lake

Value

Estimated Value: $520,000
County Market Value: $414,700; 2024
Assessed Value: $414,700; 2025

Mortgage & Debt

Open Mortgages: 0
Estimated Balance: $0
Lien Flags: None recorded; RealEstateAPI flags · not a lien search

Last Sale

Public Record: $160,000; 09/03/2010
Document Type: Sheriffs Deed

Opportunity

Opening Bid: $151,901
Bid / Value: 29%; of $520,000
Property Tax 2024: $10,418; annual bill · not the amount owed
Equity (est.): $520,000; 100%
Monthly Rent: $815; Suggested rent
Gross Yield: 1.88%

Opening bid

$151,901

Assessed value

$414,700

Land $56,700Improvement $358,000

Market / AVM

$520,000

Property tax 2024

$10,418

Annual bill — the sale list gives no amount owed

Property facts enriched via realestateapi · 8/25/2026

Ownership Information

Owner 1 Name: Deutsche Bank National Trust Company
Mailing Address: Irving, TX 75063
Owner Type: Company
Corporate Owned: Yes

Property Characteristics

Total Rooms: 6
Bedrooms: 1
Total Bathrooms

Deal analysis

Sale Date	Recorded	Amount	Document	Doc #	Arm's Length	Method	Buyer	Seller
09/03/2010	09/16/2010	$160,000	Sheriffs Deed	2010 053571	Yes	Cash Purchase	Deutsche Bank National Trust Company	Jerome Gant, Gail Gant

Your maximum bid

$304,860

Walk away above this. Projected profit at the ceiling: $156,000 (30% of ARV).

Opening bid $151,901

Room to bid $152,959

Confidence: medium — ARV from a provider market estimate, not comps.

History-guided suggestion

$200,890

Under max by $103,970

≤ oracle maxBid

Co-pilot target using recorded auction history. Never above your maximum bid.

History sample

—

Median sold

—

p(redeem) prior

—

No historical bucket for IN|Tax Lien; suggestion uses oracle only.

Your assumptions

After-repair value (ARV)

Override the derived estimate with real comps

Rehab budget

You cannot inspect before bidding — budget for the worst plausible condition

Known surviving liens

Municipal code enforcement, special assessments, federal tax liens

Target margin — 30%

Required profit as a share of ARV. 30% is a common floor for tax-sale flips.

How that number is built

Provider market estimate of $520,000. This is an as-is valuation, not an after-repair one — enter your own comparable-sales figure if the property needs work.

After-repair value: $520,000
Selling costs on exitassumed 8.0% of ARV — agent commission plus seller-side closing.: −$41,600
Rehabassumed No rehab budget entered — assumed $0. Tax-sale parcels are sold unseen and un-inspected; this is rarely correct.: −$0
Quiet title (required)assumed Midpoint of the typical IN range ($1,500–$5,000, ~4 months).: −$3,250
Deed recording and transferassumed Typical IN recording and deed issuance cost.: −$250
Holding costs (18 months)assumed Taxes, insurance, and securing the property at ~$780/month.: −$14,040
Surviving liensassumed Assumed $0 — not verified. Municipal code-enforcement liens, special assessments, and federal tax liens can survive the sale.: −$0
Target profit (30% of ARV): −$156,000
Maximum bid: $304,860

If the owner redeems

Flat penalty

10%

You'd receive

$30,486

Window

365 days

IN sells liens: the expected outcome is redemption with interest, not ownership. Taking title needs a separate foreclosure after 365 days.

Quoted elsewhere as 20% annualised — true only if they redeem on the last possible day and you immediately redeploy the capital. Treat the flat penalty as the real number.

Before you bid

Rehab is assumed to be $0. You cannot inspect these properties before bidding — budget for the worst plausible condition.
Surviving liens assumed $0. THE PENALTY BASE IS THE MINIMUM BID, NOT YOUR BID. 110%/115% under IC 6-1.1-25-2 is computed on the minimum bid; the amount you paid above it earns only 5% per annum, and only for sales after 2014-06-30. Indiana sells by premium bidding, so on any competitive parcel the modelled tier overstates the return — a $1,200 minimum taken at $6,000 returns 10% on $1,200 and 5%/yr on $4,800, not 10% on $6,000. Treat the computed penalty as a ceiling until the type carries a penalty base.
Indiana's ratio is 1.0, but IC 6-1.1-31-6(c) says in terms that true tax value DOES NOT mean fair market value — it means market value-in-use, the value of the parcel for its current use. On a derelict or under-used parcel, which is most of what reaches a tax sale, value-in-use can sit well below what the land would fetch redeveloped, and on special-purpose property it can sit above. A 1.0 ratio here is not a licence to treat the assessment as an appraisal; get comparable sales.

1002-04 Wayne St

Value

Mortgage & Debt

Last Sale

Opportunity

Ownership Information

Property Characteristics

1002-04 Wayne St

Value

Mortgage & Debt

Last Sale

Opportunity

Ownership Information

Property Characteristics

Building Size

Land/Location Information

Legal Description

Tax Assessment Information

Last Arm's Length Sale Information

Recording Information

Buyer/Seller Information

Distress Flags

Area

Fair Market Rents

Tax Assessment Information

Sale History

County records

Lake County rules

Historical comps

Verify before you bid