10638 Lantern Bay CvFort WayneIN46845
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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
Investment property for sale in Fort Wayne at 10638 Lantern Bay Cv, Fort Wayne, IN, 46845 offers a 7.64% rental yield on a $529,900 purchase with $3,374/mo rent. Total monthly income registers $3,374/mo, and a $2,594/mo payment leaves $193/mo available for distribution. Annual cash flow reaches $2,312/yr on $174,337 to close, and return on cash invested stands at 21.39% in year one. Equity gained on principal adds $3,419/yr while 5% annual appreciation supports $146,402 over five years. Portfolio math shows five-year ROI at 110.49% and total cumulative return in cash at $192,623. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,374/mo property income against a $2,594/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1999
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46845, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,048 (100%) |
| Owner Occupied HU | 9,968 (82.7%) |
| Renter Occupied HU | 1,630 (13.5%) |
| Vacant Housing Units | 450 ( 3.7%) |
| Median Home Value | $335,610 |
| Average Home Value | $360,690 |
Housing Distribution
Address Breakdown
Residential
11,995
Single Family
11,159
Multi-Family
836
Businesses
222
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Listed by: Rick Widmann • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls ID: #202528402