1937 Lake Shore DrMichigan CityIN46360
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 1937 Lake Shore Dr, Michigan City, IN, 46360 in Michigan City is capital appreciation. Rental yield 5.22%. The 5.22% gross yield at $675,000 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $186,490 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.97) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $183,600.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.2% | 7.5% |
| Monthly Cash Flow | $(1,116) | $150 |
City averages based on Michigan City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,936 |
| Total Monthly Debt Service | $3,783 |
| DSCR Ratio | 0.78x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 1919
7,095 sqft 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
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
Single Family
Built in 1919
7,095 sqft 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Richard Remijas • Berkshire Hathaway HomeService
Mls Name: NIRA
Mls ID: #822571