1609 Melanie LnChestertonIN46304
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1609 Melanie Ln, Chesterton, IN, 46304 in Chesterton is a top-tier cash-flow asset. At $404,900 it produces $3,970/mo in rent and $1,539/mo in net monthly income, a 11.76% gross rental yield. The DSCR of 2.18 qualifies for Ziffy Mortgage's DSCR loan without W-2s or U.S. credit history. Annual cash flow: $18,469. Five-year appreciation adds $111,866, driving a total cumulative return of $252,299.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.8% | 7.5% |
| Monthly Cash Flow | $1,539 | $1,500 |
City averages based on Chesterton market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,970 |
| Total Monthly Debt Service | $2,269 |
| DSCR Ratio | 1.75x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Stefanie Neal • BHHS Executive Group RE
Mls Name: NIRA
Mls ID: #825123