1402 Greenwood AveMichigan 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 1402 Greenwood Ave, Michigan City, IN, 46360 priced at $194,999 pairs $1,571/mo rent with $401/mo cash flow after a $954/mo payment. Total monthly income equals $1,571/mo, and annual cash flow comes to $4,811/yr on $64,642 invested. Return on cash invested is 27.35% in year one, and rental yield stands at 9.67% on a $194,999 basis. Equity gained on principal adds $1,258/yr, and 5% annual appreciation accumulates to $53,875 by year five. Five-year ROI measures 142.51% and total cumulative return in cash reaches $92,122. For financing, Ziffy Mortgage’s DSCR program evaluates $1,571/mo property income against a $954/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1953
4,700 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: Belinda Cooper • @properties/Christie's Intl RE
Mls Name: NIRA
Mls Provider:
Mls ID: #819816
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