2405 S Michigan StSouth BendIN46614
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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 South Bend at 2405 S Michigan St, South Bend, IN, 46614 offers a 11.16% rental yield on a $165,000 purchase with $1,535/mo rent. Total monthly income registers $1,535/mo, and a $808/mo payment leaves $539/mo available for distribution. Annual cash flow reaches $6,473/yr on $54,698 to close, and return on cash invested stands at 31.74% in year one. Equity gained on principal adds $1,065/yr while 5% annual appreciation supports $45,586 over five years. Portfolio math shows five-year ROI at 166.14% and total cumulative return in cash at $90,875. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,535/mo property income against a $808/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1924
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46614, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,675 (100%) |
| Owner Occupied HU | 9,722 (71.1%) |
| Renter Occupied HU | 3,210 (23.5%) |
| Vacant Housing Units | 743 ( 5.4%) |
| Median Home Value | $219,724 |
| Average Home Value | $250,540 |
Housing Distribution
Address Breakdown
Residential
13,174
Single Family
11,556
Multi-Family
1,618
Businesses
438
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Listed by: Nathanael Eddy • eXp Realty, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202441668
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.