224 Old Mill RdTrail CreekIN46360
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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 Trail Creek at 224 Old Mill Rd, Trail Creek, IN, 46360 offers $2,862/mo rent that, after a $1,517/mo payment, leaves $1,002/mo cash flow. Total monthly income is $2,862/mo, and annual cash flow is $12,018/yr on $102,732 cash. Return on cash invested measures 31.61% in year one, and rental yield stands at 11.08% at a $309,900 entry. Equity gained on principal adds $2,000/yr while 5% annual appreciation compounds into $85,620 by year five. Five-year ROI records 165.34% and total cumulative return in cash reaches $169,860. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,862/mo property income versus a $1,517/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1988
0.94 Acres 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: Steven Monsma • Weichert Realtors - Shoreline
Mls Name: NIRA
Mls ID: #823937