117 NE Monroe AveElkhartIA50073
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 117 NE Monroe Ave, Elkhart, IA, 50073 in Elkhart: $2,334/mo in rent, $654/mo net, 10.39% gross yield, all on a $309,900 acquisition. The 1.67 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $85,620 in value, and $2,854/yr in principal paydown steadily builds equity. Projected total cumulative return: $137,595.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.4% | 8.2% |
| Monthly Cash Flow | $654 | $400 |
City averages based on Elkhart market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,334 |
| Total Monthly Debt Service | $1,906 |
| DSCR Ratio | 1.22x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 2019
8,712 sqft lot
$N/A/sqft
No HOA
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
Single Family
Built in 2019
8,712 sqft lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Engelman Team • Friedrich Iowa Realty
Mls Name: CIBR
Mls Provider:
Mls ID: #67383
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not accurate.