1521 Spring Cress RdFort WayneIN46814
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe income profile at 1521 Spring Cress Rd, Fort Wayne, IN, 46814 in Fort Wayne is straightforward: $299,500 in, $2,137/mo in rent, $296/mo out after debt service. The 8.56% gross yield and 1.59 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $82,746 by year five. With $2,758/yr in principal equity, the total cumulative return is projected at $132,536.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 6.8% |
| Monthly Cash Flow | $296 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,137 |
| Total Monthly Debt Service | $1,722 |
| DSCR Ratio | 1.24x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1993
9,583 sqft lot
$N/A/sqft
$400 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46814, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,381 (100%) |
| Owner Occupied HU | 5,599 (87.7%) |
| Renter Occupied HU | 570 ( 8.9%) |
| Vacant Housing Units | 212 ( 3.3%) |
| Median Home Value | $387,258 |
| Average Home Value | $434,010 |
Housing Distribution
Address Breakdown
Residential
6,175
Single Family
6,175
Multi-Family
0
Businesses
127
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1993
9,583 sqft lot
$N/A/sqft
$400 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46814, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,381 (100%) |
| Owner Occupied HU | 5,599 (87.7%) |
| Renter Occupied HU | 570 ( 8.9%) |
| Vacant Housing Units | 212 ( 3.3%) |
| Median Home Value | $387,258 |
| Average Home Value | $434,010 |
Housing Distribution
Address Breakdown
Residential
6,175
Single Family
6,175
Multi-Family
0
Businesses
127
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jason Satkowiak • RE/MAX Results
Mls Name: IRMLS
Mls Provider:
Mls ID: #202538409
Disclaimer: 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.