1609 Columbia AveFort WayneIN46805
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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 Fort Wayne at 1609 Columbia Ave, Fort Wayne, IN, 46805 priced at $159,900 converts $2,016/mo rent into $1,024/mo cash flow after a $783/mo obligation. Total monthly income equals $2,016/mo, and annual cash flow totals $12,294/yr on $53,007 invested. Return on cash invested prints 43.1% in year one, and rental yield reads 15.13% against a $159,900 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation compiles into $44,177 by year five. Five-year ROI reaches 227.28% and total cumulative return in cash sums $120,474. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,016/mo property income covering a $783/mo payment, not borrower’s personal income.
Single Family
Built in 1925
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
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Listed by: Jeffery Holtsclaw • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls Provider:
Mls ID: #202310498
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.