1602 N 500 EMichigan 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 1602 N 500 E, Michigan City, IN, 46360 earns from $2,345/mo rent with a $1,982/mo payment. Total monthly income totals $2,345/mo. ROI tracks 19.14% on current figures, and rental yield reads 6.95% at a $405,000 purchase. Equity gained on principal adds $2,613/yr, and 5% annual appreciation supports $111,894 over five years. Five-year ROI reaches 98.51% and total cumulative return in cash sums $132,254. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,345/mo property income instead of your personal income.
Single Family
Built in 1945
10 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 Marshall • Blackrock Real Estate Services
Mls Name: NIRA
Mls ID: #825852