1411 Larain DrMichigan 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 1411 Larain Dr, Michigan City, IN, 46360 priced at $239,900 converts $2,033/mo rent into $593/mo cash flow after a $1,174/mo obligation. Total monthly income equals $2,033/mo, and annual cash flow totals $7,117/yr on $79,527 invested. Return on cash invested prints 28.86% in year one, and rental yield reads 10.17% against a $239,900 entry. Equity gained on principal adds $1,548/yr, while 5% annual appreciation compiles into $66,280 by year five. Five-year ROI reaches 150.64% and total cumulative return in cash sums $119,803. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,033/mo property income covering a $1,174/mo payment, not borrower’s personal income.
Townhouse
Built in 2024
1,263 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: Pete LaSalle • Listing Leaders
Mls Name: NIRA
Mls Provider:
Mls ID: #800439
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.