1505 Melanie LnGarden CityKS67846
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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 Garden City at 1505 Melanie Ln, Garden City, KS, 67846 offers a 6.13% rental yield on a $364,500 purchase with $1,862/mo rent. 32% in year one. Equity gained on principal adds $2,352/yr while 5% annual appreciation supports $100,705 over five years. Portfolio math shows five-year ROI at 73.51% and total cumulative return in cash at $88,818. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,862/mo property income against a $1,784/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1975
9,365 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 67846, Garden City, KS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,216 (100%) |
| Owner Occupied HU | 7,551 (57.1%) |
| Renter Occupied HU | 4,505 (34.1%) |
| Vacant Housing Units | 1,160 ( 8.8%) |
| Median Home Value | $220,198 |
| Average Home Value | $253,183 |
Housing Distribution
Address Breakdown
Residential
12,610
Single Family
11,904
Multi-Family
706
Businesses
1,517
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Listed by: Maxine Atkinson • ARC Real Estate, Inc
Mls Name: GCMLS, GARD
Mls ID: #100631