1038 N Meridian Rd, Chesterton, IN, 46304 | 3.01% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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1038 N Meridian Rd, Chesterton, IN, 46304 | 3.01% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Chesterton at 1038 N Meridian Rd, Chesterton, IN, 46304 offers a 3.01% rental yield on a $675,000 purchase with $1,691/mo rent. 3% in year one. Equity gained on principal adds $4,356/yr while 5% annual appreciation supports $186,490 over five years. Portfolio math shows five-year ROI at 34.95% and total cumulative return in cash at $77,607. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,691/mo property income against a $3,304/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1927

10 Acres lot

$N/A/sqft

No HOA

More details about the property

Come see this picturesque 10 acres in a prime location with a blank slate for your imagination! The value lies in the land, but there could also be potential with this old farmhouse just steps from Chesterton High School. The farmhouse has 1008 Unfinished square footage on the Main level and the same for the Unfinished Basement. The house has been stripped bare and is ready for some big dreams to change it, or to be torn down and something new created. Several outbuildings are ready for your equipment and chickens if a hobby farm is part of your plan! Current home has well and septic, but sewer and water both run along the north side of the land.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46304, Chesterton, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,923 (100%)
Owner Occupied HU	8,700 (73.0%)
Renter Occupied HU	2,581 (21.6%)
Vacant Housing Units	642 ( 5.4%)
Median Home Value	$313,394
Average Home Value	$348,036