223 Kenwood AveElkhartIN46516
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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
Rental property for sale in Elkhart at 223 Kenwood Ave, Elkhart, IN, 46516 offers $1,598/mo rent that, after a $844/mo payment, leaves $563/mo cash flow. Total monthly income is $1,598/mo, and annual cash flow is $6,754/yr on $57,184 cash. Return on cash invested measures 31.72% in year one, and rental yield stands at 11.12% at a $172,500 entry. Equity gained on principal adds $1,113/yr while 5% annual appreciation compounds into $47,659 by year five. Five-year ROI records 165.95% and total cumulative return in cash reaches $94,898. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,598/mo property income versus a $844/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46516, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,463 (100%) |
| Owner Occupied HU | 7,221 (53.6%) |
| Renter Occupied HU | 5,279 (39.2%) |
| Vacant Housing Units | 963 ( 7.2%) |
| Median Home Value | $172,789 |
| Average Home Value | $240,548 |
Housing Distribution
Address Breakdown
Residential
13,032
Single Family
11,652
Multi-Family
1,380
Businesses
1,157
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