15640 Springmill DrMishawakaIN46545
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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 Mishawaka at 15640 Springmill Dr, Mishawaka, IN, 46545 generates $3,170/mo in rent and, after a $1,859/mo payment, leaves $890/mo in cash flow. Total monthly income is $3,170/mo, and annual cash flow is $10,679/yr on $125,937 invested. Return on cash invested sits at 28.39% in year one, and rental yield is 10.01% on a $379,900 entry. Equity gained on principal adds $2,451/yr, while 5% annual appreciation builds toward $104,959 over five years. Five-year ROI reaches 148.07% and total cumulative return in cash sums $186,473. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,170/mo property income rather than buyer’s personal income.
Single Family
Built in 1963
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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