2 Marine Dr APT 2Michigan 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 2 Marine Dr APT 2, Michigan City, IN, 46360 at $365,000 posts ROI 15.26% with from $1,722/mo rent. Total monthly income equals $1,722/mo. Return on cash invested measures 15.26% and rental yield reads 5.66% at the current $365,000. Equity gained on principal adds $2,355/yr, and 5% annual appreciation supports $100,843 by year five. Five-year ROI prints 77.69% and total cumulative return in cash totals $94,003. You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,722/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Condo
Built in 1984
N/A 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: Brittany Munoz • New Chapter Real Estate
Mls Name: NIRA
Mls ID: #832600