1505 Ardendale 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
Investment property for sale in Michigan City at 1505 Ardendale Ave, Michigan City, IN, 46360 offers a 9.28% rental yield on a $119,999 purchase with $928/mo rent. Total monthly income registers $928/mo, and a $587/mo payment leaves $208/mo available for distribution. Annual cash flow reaches $2,496/yr on $39,780 to close, and return on cash invested stands at 26.18% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,154 over five years. Portfolio math shows five-year ROI at 136.22% and total cumulative return in cash at $54,187. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $928/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1948
0.39 Acres 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: Robin Willoughby • MTM Realty Group
Mls Name: NIRA
Mls Provider:
Mls ID: #817486
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