1609 Melanie LnChestertonIN46304
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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 Chesterton at 1609 Melanie Ln, Chesterton, IN, 46304 listed at $404,900 pairs $3,970/mo rent with a $1,982/mo payment to leave $1,539/mo cash flow. Total monthly income runs $3,970/mo, and annual cash flow reaches $18,471/yr on $134,224 cash to close. Return on cash invested measures 33.67% in year one, and rental yield registers 11.77% at a $404,900 basis. Equity gained on principal adds $2,613/yr, and annual property appreciation at 5% supports $111,866 by year five. Five-year ROI tracks 176.42% and total cumulative return in cash totals $236,802. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,970/mo property income relative to a $1,982/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2024
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46304, Chesterton, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,923 (100%) |
| Owner Occupied HU | 8,700 (73.0%) |
| Renter Occupied HU | 2,581 (21.6%) |
| Vacant Housing Units | 642 ( 5.4%) |
| Median Home Value | $313,394 |
| Average Home Value | $348,036 |
Housing Distribution
Address Breakdown
Residential
11,590
Single Family
11,019
Multi-Family
571
Businesses
1,010
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Listed by: Stefanie Neal • BHHS Executive Group RE
Mls Name: NIRA
Mls ID: #825123