2209 Island DrMichigan 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 2209 Island Dr, Michigan City, IN, 46360 earns from $1,828/mo rent with a $1,224/mo payment. Total monthly income totals $1,828/mo. ROI tracks 19.57% on current figures, and rental yield reads 8.77% at a $250,000 purchase. Equity gained on principal adds $1,613/yr, and 5% annual appreciation supports $69,070 over five years. Five-year ROI reaches 102.64% and total cumulative return in cash sums $85,066. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,828/mo property income instead of your personal income.
Single Family
Built in 1983
2,260 sqft lot
$N/A/sqft
$350 monthly 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: Robin Marshall • Blackrock Real Estate Services
Mls Name: NIRA
Mls Provider:
Mls ID: #822582
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-27 21:42:36 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#185)