2491 W 64th AveMerrillvilleIN46410
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 2491 W 64th Ave, Merrillville, IN, 46410 in Merrillville: $2,567/mo in rent, $755/mo net, 10.2% gross yield, all on a $301,900 acquisition. The 1.89 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 $83,409 in value, and $2,781/yr in principal paydown steadily builds equity. Projected total cumulative return: $162,808.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 7.0% |
| Monthly Cash Flow | $755 | $400 |
City averages based on Merrillville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,567 |
| Total Monthly Debt Service | $1,692 |
| DSCR Ratio | 1.52x |
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 1973
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46410, Merrillville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,618 (100%) |
| Owner Occupied HU | 10,197 (57.9%) |
| Renter Occupied HU | 6,280 (35.6%) |
| Vacant Housing Units | 1,141 ( 6.5%) |
| Median Home Value | $223,839 |
| Average Home Value | $250,345 |
Housing Distribution
Address Breakdown
Residential
17,068
Single Family
13,383
Multi-Family
3,685
Businesses
1,991
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 1973
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46410, Merrillville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,618 (100%) |
| Owner Occupied HU | 10,197 (57.9%) |
| Renter Occupied HU | 6,280 (35.6%) |
| Vacant Housing Units | 1,141 ( 6.5%) |
| Median Home Value | $223,839 |
| Average Home Value | $250,345 |
Housing Distribution
Address Breakdown
Residential
17,068
Single Family
13,383
Multi-Family
3,685
Businesses
1,991
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alice Kepchar • BHHS Executive Realty
Mls Name: NIRA
Mls Provider:
Mls ID: #811970
Disclaimer: Copyright 2024 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.