2901 Springland AveMichigan CityIN46360
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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
Rental property for sale in Michigan City at 2901 Springland Ave, Michigan City, IN, 46360 generates $1,166/mo in rent and, after a $729/mo payment, leaves $272/mo in cash flow. Total monthly income is $1,166/mo, and annual cash flow is $3,262/yr on $49,394 invested. Return on cash invested sits at 26.51% in year one, and rental yield is 9.39% on a $149,000 entry. Equity gained on principal adds $961/yr, while 5% annual appreciation builds toward $41,166 over five years. Five-year ROI reaches 138.03% and total cumulative return in cash sums $68,176. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,166/mo property income rather than buyer’s personal income.
Single Family
Built in 1998
9,199 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
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Listed by: Randall Novak • Century 21 Circle
Mls Name: NIRA
Mls ID: #824170