2217 Mather AveElkhartIN46517
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow2217 Mather Ave, Elkhart, IN, 46517 in Elkhart is a solid income-producing rental, 12.42% gross yield, $1,304/mo rent, $486/mo net cash flow on a $126,000 buy. DSCR 2.30 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $34,811 and $1,160/yr in principal reduction project a total cumulative return of $79,151.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.4% | 6.2% |
| Monthly Cash Flow | $486 | $450 |
City averages based on Elkhart market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,304 |
| Total Monthly Debt Service | $769 |
| DSCR Ratio | 1.70x |
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 1925
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
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 1925
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Shelly Mobus • McKinnies Realty, LLC Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202437227
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.