101 W Michigan Blvd #506Michigan CityIN46360
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Total monthly income runs $1,738/mo, and a $3,940/mo payment. Purchase price stands at $805,000, and rental yield measures 2.59% with $1,738/mo rent. Return on cash invested shows 1.37% in year one, and 5% annual appreciation builds toward $222,407 over five years. Five-year ROI reaches 4.85% and total cumulative return in cash records $12,857. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,738/mo property income covering a $3,940/mo payment rather than investor’s personal income.
Condo
Built in 2025
N/A lot
$N/A/sqft
$1,030 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
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Listed by: Kacia Snyder • Encore Sotheby's International
Mls Name: NIRA
Mls Provider:
Mls ID: #817801
Disclaimer: Copyright 2025 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.