1224 Lake AveFort WayneIN46805
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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
Investment property for sale in Fort Wayne at 1224 Lake Ave, Fort Wayne, IN, 46805 offers a 10.35% rental yield on a $195,000 purchase with $1,682/mo rent. Total monthly income registers $1,682/mo, and a $954/mo payment leaves $512/mo available for distribution. Annual cash flow reaches $6,142/yr on $64,643 to close, and return on cash invested stands at 29.41% in year one. Equity gained on principal adds $1,258/yr while 5% annual appreciation supports $53,875 over five years. Portfolio math shows five-year ROI at 153.56% and total cumulative return in cash at $99,262. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,682/mo property income against a $954/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1910
2,613 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
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Listed by: Tim Haber • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls ID: #202527426