23971 Banyan CirElkhartIN46516
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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
Investment property for sale in Elkhart at 23971 Banyan Cir, Elkhart, IN, 46516 uses $96,102 cash to close to unlock $8,564/yr annual cash flow and $714/mo monthly cash flow. Total monthly income runs $2,454/mo, and a $1,419/mo payment keeps the spread at $714/mo. Purchase price stands at $289,900, and rental yield measures 10.16% with $2,454/mo rent. Return on cash invested shows 28.82% in year one, and 5% annual appreciation builds toward $80,094 over five years. Five-year ROI reaches 150.4% and total cumulative return in cash records $144,537. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,454/mo property income covering a $1,419/mo payment rather than investor’s personal income.
Single Family
Built in 1981
0.43 Acres 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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