1214 E Michigan BlvdMichigan CityIN46360
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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 Michigan City at 1214 E Michigan Blvd, Michigan City, IN, 46360 generates $961/mo in rent and, after a $611/mo payment, leaves $181/mo in cash flow. Total monthly income is $961/mo, and annual cash flow is $2,169/yr on $41,404 invested. Return on cash invested sits at 25.15% in year one, and rental yield is 9.23% on a $124,900 entry. Equity gained on principal adds $806/yr, while 5% annual appreciation builds toward $34,508 over five years. Five-year ROI reaches 131.02% and total cumulative return in cash sums $54,250. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $961/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
5,201 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
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Listed by: Stephanie Polka • Coldwell Banker Realty
Mls Name: NIRA
Mls Provider:
Mls ID: #800673
Disclaimer: Copyright 2024 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.