1520 E Lake Dr W, Elkhart, IN, 46514 | $4/mo Cash Flow

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1520 E Lake Dr W, Elkhart, IN, 46514 | $4/mo Cash Flow | Ziffy

For Sale

Listed for sale 2 days ago

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Elkhart at 1520 E Lake Dr W, Elkhart, IN, 46514 listed at $259,000 pairs $1,559/mo rent with a $1,268/mo payment to leave $4/mo cash flow. Total monthly income runs $1,559/mo, and annual cash flow reaches $47/yr on $85,859 cash to close. Return on cash invested measures 19.96% in year one, and rental yield registers 7.22% at a $259,000 basis. Equity gained on principal adds $1,671/yr, and annual property appreciation at 5% supports $71,557 by year five. Five-year ROI tracks 102.88% and total cumulative return in cash totals $88,336. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,559/mo property income relative to a $1,268/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1967

0.32 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to this spacious one-story home in the Elkhart School District, ideally located just minutes from the Cobblestone Shopping Center and Walker Park. Offering 3 bedrooms and 2 full bathrooms, this home features 1,600 square feet on the main level plus an additional 1,200 finished square feet in the basement, providing exceptional space and flexibility. The main level boasts a formal dining room, huge living room, and the added value of hardwood floors beneath the bedroom carpet. A cozy wood-burning fireplace anchors the living space, while the fully fenced backyard offers privacy for outdoor enjoyment. The finished basement expands your living options with an even larger recreational room, ideal for entertaining, movie nights, or a home gym. Recent updates offer peace of mind, including an HVAC system less than 5 years old, water softener under 1 year, water heater under 2 years, newer back deck under 1 year, roof less than 10 years old, kitchen appliances under 5 years, and washer and dryer under 10 years old. With its prime location near shopping, parks, and everyday conveniences, this home delivers space, comfort, and long-term value. Schedule your showing today!

Neighborhood Data

Neighborhood data shown for ZIP Code: 46514, Elkhart, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	18,284 (100%)
Owner Occupied HU	11,774 (64.4%)
Renter Occupied HU	5,434 (29.7%)
Vacant Housing Units	1,076 ( 5.9%)
Median Home Value	$219,702
Average Home Value	$252,263