221 S Ironwood DrSouth BendIN46615
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 221 S Ironwood Dr, South Bend, IN, 46615 in South Bend. Priced at $200,000, it generates $2,316/mo in gross rent and $1,115/mo in net monthly cash flow, a 13.9% yield that comfortably supports the 2.58 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $13,385. Five-year appreciation: $55,256. Equity from principal paydown: $1,842/yr. Total projected cumulative return: $147,515.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.9% | 5.8% |
| Monthly Cash Flow | $1,115 | $850 |
City averages based on South Bend market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,316 |
| Total Monthly Debt Service | $1,121 |
| DSCR Ratio | 2.07x |
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.
Single Family
Built in 1950
8,276 sqft lot
$N/A/sqft
No HOA
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 1950
8,276 sqft lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jackie A Frient • Market Place Realty, Inc.
Mls Name: IRMLS
Mls Provider:
Mls ID: #202517027
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.