113 W Wayne St APT 202Fort WayneIN46802
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 113 W Wayne St APT 202, Fort Wayne, IN, 46802 in Fort Wayne achieves 1.67, rent of $1,802/mo covers the $1,079/mo payment 1.5x over at $239,900. Rental yield 9.02%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $66,280 over five years, with $2,210/yr in principal reduction bringing total projected return to $75,213.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.8% |
| Monthly Cash Flow | $(286) | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,802 |
| Total Monthly Debt Service | $1,993 |
| DSCR Ratio | 0.90x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1990
N/A lot
$N/A/sqft
$361 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46802, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,718 (100%) |
| Owner Occupied HU | 1,514 (26.5%) |
| Renter Occupied HU | 3,373 (59.0%) |
| Vacant Housing Units | 831 (14.5%) |
| Median Home Value | $178,409 |
| Average Home Value | $232,751 |
Housing Distribution
Address Breakdown
Residential
5,036
Single Family
3,762
Multi-Family
1,274
Businesses
984
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
Condo
Built in 1990
N/A lot
$N/A/sqft
$361 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46802, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,718 (100%) |
| Owner Occupied HU | 1,514 (26.5%) |
| Renter Occupied HU | 3,373 (59.0%) |
| Vacant Housing Units | 831 (14.5%) |
| Median Home Value | $178,409 |
| Average Home Value | $232,751 |
Housing Distribution
Address Breakdown
Residential
5,036
Single Family
3,762
Multi-Family
1,274
Businesses
984
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gregory H Brown • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls Provider:
Mls ID: #202604140
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.