1215 Lake AveFort WayneIN46805
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 1215 Lake Ave, Fort Wayne, IN, 46805 in Fort Wayne worth study. Rental yield 3.3%. The 3.3% gross yield is below cash-flow benchmarks at $537,000, but 5% annual appreciation, adding $148,363 over five years, frames this as a capital growth position. Rent of $1,475/mo partially offsets the $2,415/mo payment. Ziffy Mortgage finances appreciation-play properties (0.61 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $90,657.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.3% | 6.8% |
| Monthly Cash Flow | $(1,749) | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,475 |
| Total Monthly Debt Service | $3,010 |
| DSCR Ratio | 0.49x |
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.
Multi Family
Built in 1900
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
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
Multi Family
Built in 1900
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Eddie Arevalo • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls Provider:
Mls ID: #202531274
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.