1056 Morton StGaryIN46404
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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
Rental property for sale in Gary at 1056 Morton St, Gary, IN, 46404 generates $1,904/mo in rent and, after a $524/mo payment, leaves $1,229/mo in cash flow. Total monthly income is $1,904/mo, and annual cash flow is $14,744/yr on $35,471 invested. Return on cash invested sits at 61.48% in year one, and rental yield is 21.35% on a $107,000 entry. Equity gained on principal adds $690/yr, while 5% annual appreciation builds toward $29,562 over five years. Five-year ROI reaches 325.98% and total cumulative return in cash sums $115,626. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,904/mo property income rather than buyer’s personal income.
Single Family
Built in 1941
5,706 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46404, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,655 (100%) |
| Owner Occupied HU | 3,453 (45.1%) |
| Renter Occupied HU | 2,951 (38.5%) |
| Vacant Housing Units | 1,251 (16.3%) |
| Median Home Value | $103,793 |
| Average Home Value | $179,305 |
Housing Distribution
Address Breakdown
Residential
6,554
Single Family
5,900
Multi-Family
654
Businesses
242
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Listed by: Laurene Lemanski • Briar Executive Realty
Mls Name: NIRA
Mls Provider:
Mls ID: #822532
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-26 03:42:28 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#185)