2321 Greenwood AveMichigan CityIN46360
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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 Michigan City at 2321 Greenwood Ave, Michigan City, IN, 46360 generates $2,387/mo in rent and, after a $1,297/mo payment, leaves $796/mo in cash flow. Total monthly income is $2,387/mo, and annual cash flow is $9,555/yr on $87,848 invested. Return on cash invested sits at 30.79% in year one, and rental yield is 10.81% on a $265,000 entry. Equity gained on principal adds $1,710/yr, while 5% annual appreciation builds toward $73,215 over five years. Five-year ROI reaches 160.97% and total cumulative return in cash sums $141,411. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,387/mo property income rather than buyer’s personal income.
Single Family
Built in 1962
8,820 sqft 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: Robin Marshall • Blackrock Real Estate Services
Mls Name: NIRA
Mls ID: #826541