2405 Florida DrFort WayneIN46805
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe cash-flow margin at 2405 Florida Dr, Fort Wayne, IN, 46805 in Fort Wayne is narrow, $159/mo net on $1,960/mo rent after the $1,349/mo debt service, but the property operates at break-even-plus, not a loss. At $300,000 with a 7.84% yield, the long-run equity case via 5% appreciation ($82,884 over five years) and $2,763/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.45 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $123,784.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.8% | 6.8% |
| Monthly Cash Flow | $159 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,960 |
| Total Monthly Debt Service | $1,681 |
| DSCR Ratio | 1.17x |
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 1925
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
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 1925
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Candice Everage • Weichert Realtors - Hoosier Heartland
Mls Name: IRMLS
Mls Provider:
Mls ID: #202513676
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.