23415 Forrestview AveElkhartIN46517
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 23415 Forrestview Ave, Elkhart, IN, 46517 in Elkhart: $2,633/mo in rent, $1,177/mo net, 13.03% gross yield, all on a $242,500 acquisition. The 2.42 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $66,998 in value, and $2,233/yr in principal paydown steadily builds equity. Projected total cumulative return: $167,579.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13% | 6.2% |
| Monthly Cash Flow | $1,177 | $450 |
City averages based on Elkhart market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,633 |
| Total Monthly Debt Service | $1,359 |
| DSCR Ratio | 1.94x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1966
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
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
Single Family
Built in 1966
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tracy DeShone • RE/MAX Results-Goshen
Mls Name: IRMLS
Mls Provider:
Mls ID: #202445959
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.