232 E Grove StMishawakaIN46545
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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 Mishawaka at 232 E Grove St, Mishawaka, IN, 46545 priced at $120,000 converts $924/mo rent into $195/mo cash flow after a $587/mo obligation. Total monthly income equals $924/mo, and annual cash flow totals $2,341/yr on $39,780 invested. Return on cash invested prints 25.79% in year one, and rental yield reads 9.24% against a $120,000 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation compiles into $33,154 by year five. Five-year ROI reaches 134.35% and total cumulative return in cash sums $53,443. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $924/mo property income covering a $587/mo payment, not borrower’s personal income.
Single Family
Built in 1890
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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Listed by: Stacie Schlichtenmyer • Keller Williams Thrive South
Mls Name: IRMLS
Mls Provider:
Mls ID: #202520565
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.