229 Corwin LnFort WayneIN46816
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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 Fort Wayne at 229 Corwin Ln, Fort Wayne, IN, 46816 priced at $129,900 converts $1,041/mo rent into $261/mo cash flow after a $636/mo obligation. Total monthly income equals $1,041/mo, and annual cash flow totals $3,132/yr on $43,062 invested. Return on cash invested prints 27.18% in year one, and rental yield reads 9.62% against a $129,900 entry. Equity gained on principal adds $838/yr, while 5% annual appreciation compiles into $35,889 by year five. Five-year ROI reaches 141.72% and total cumulative return in cash sums $61,027. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,041/mo property income covering a $636/mo payment, not borrower’s personal income.
Single Family
Built in 1957
9,060 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46816, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,306 (100%) |
| Owner Occupied HU | 3,989 (48.0%) |
| Renter Occupied HU | 3,575 (43.0%) |
| Vacant Housing Units | 742 ( 8.9%) |
| Median Home Value | $165,445 |
| Average Home Value | $214,685 |
Housing Distribution
Address Breakdown
Residential
7,825
Single Family
6,037
Multi-Family
1,788
Businesses
192
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Listed by: Danny Phillips • Epique Inc.
Mls Name: IRMLS
Mls ID: #202535119