2420 Monger AveElkhartIN46517
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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 2420 Monger Ave, Elkhart, IN, 46517 uses $56,322 cash to close to unlock $8,624/yr annual cash flow and $719/mo monthly cash flow. Total monthly income runs $1,739/mo, and a $832/mo payment keeps the spread at $719/mo. Purchase price stands at $169,900, and rental yield measures 12.28% with $1,739/mo rent. Return on cash invested shows 35.22% in year one, and 5% annual appreciation builds toward $46,940 over five years. Five-year ROI reaches 184.75% and total cumulative return in cash records $104,054. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,739/mo property income covering a $832/mo payment rather than investor’s personal income.
Single Family
Built in 1900
6,534 sqft 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
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