231 W Washington StElkhartIN46516
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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 231 W Washington St, Elkhart, IN, 46516 priced at $132,000 pairs $1,777/mo rent with $985/mo cash flow after a $646/mo payment. Total monthly income equals $1,777/mo, and annual cash flow comes to $11,816/yr on $43,758 invested. Return on cash invested is 46.91% in year one, and rental yield stands at 16.15% on a $132,000 basis. Equity gained on principal adds $852/yr, and 5% annual appreciation accumulates to $36,469 by year five. Five-year ROI measures 247.43% and total cumulative return in cash reaches $108,271. For financing, Ziffy Mortgage’s DSCR program evaluates $1,777/mo property income against a $646/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1900
3,049 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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Listed by: Rosaura Trejo • Berkshire Hathaway HomeServices Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202433166
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.