1117 Colfax StGaryIN46406
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 1117 Colfax St, Gary, IN, 46406 priced at $189,999 converts $1,699/mo rent into $558/mo cash flow after a $930/mo obligation. Total monthly income equals $1,699/mo, and annual cash flow totals $6,701/yr on $62,985 invested. Return on cash invested prints 30.55% in year one, and rental yield reads 10.73% against a $189,999 entry. Equity gained on principal adds $1,226/yr, while 5% annual appreciation compiles into $52,493 by year five. Five-year ROI reaches 159.7% and total cumulative return in cash sums $100,584. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,699/mo property income covering a $930/mo payment, not borrower’s personal income.
Single Family
Built in 1971
6,011 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46406, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,314 (100%) |
| Owner Occupied HU | 1,888 (43.8%) |
| Renter Occupied HU | 1,598 (37.0%) |
| Vacant Housing Units | 828 (19.2%) |
| Median Home Value | $74,608 |
| Average Home Value | $115,557 |
Housing Distribution
Address Breakdown
Residential
3,554
Single Family
3,327
Multi-Family
227
Businesses
236
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Nearby investment properties with comparable prices
Listed by: Jenny Zamora • Integrity Realty Partners
Mls Name: NIRA
Mls Provider:
Mls ID: #824171
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