'23 Tier Plan, SoLaMichigan CityIN46360
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
Investment Highlights
Rental property for sale in Michigan City at '23 Tier Plan, SoLa, Michigan City, IN, 46360 priced at $580,000 converts $1,205/mo rent into after a $2,839/mo obligation. Total monthly income equals $1,205/mo. Return on cash invested prints 5.74% in year one, and rental yield reads 2.49% against a $580,000 entry. Equity gained on principal adds $3,743/yr, while 5% annual appreciation compiles into $160,243 by year five. Five-year ROI reaches 26.61% and total cumulative return in cash sums $50,781. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,205/mo property income covering a $2,839/mo payment, not borrower’s personal income.
Condo
Built in 2025
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • Jameson Sotheby's International Realty
Mls Name: Jameson Sotheby's International Realty
Mls ID: #N/A