1107 Bower StElkhartIN46514
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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 Elkhart at 1107 Bower St, Elkhart, IN, 46514 offers $1,879/mo rent that, after a $548/mo payment, leaves $1,088/mo cash flow. Total monthly income is $1,879/mo, and annual cash flow is $13,053/yr on $37,128 cash. Return on cash invested measures 55.07% in year one, and rental yield stands at 20.13% at a $112,000 entry. Equity gained on principal adds $723/yr while 5% annual appreciation compounds into $30,944 by year five. Five-year ROI records 292.54% and total cumulative return in cash reaches $108,615. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,879/mo property income versus a $548/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1924
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46514, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,284 (100%) |
| Owner Occupied HU | 11,774 (64.4%) |
| Renter Occupied HU | 5,434 (29.7%) |
| Vacant Housing Units | 1,076 ( 5.9%) |
| Median Home Value | $219,702 |
| Average Home Value | $252,263 |
Housing Distribution
Address Breakdown
Residential
17,694
Single Family
16,264
Multi-Family
1,430
Businesses
1,341
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Listed by: Todd B Bailey • Epique Inc.
Mls Name: IRMLS
Mls Provider:
Mls ID: #202437328
Disclaimer: 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.