302 E Broadway StMishawakaIN46545
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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 Mishawaka at 302 E Broadway St, Mishawaka, IN, 46545 offers $1,582/mo rent that, after a $756/mo payment, leaves $628/mo cash flow. Total monthly income is $1,582/mo, and annual cash flow is $7,542/yr on $51,217 cash. Return on cash invested measures 34.63% in year one, and rental yield stands at 12.29% at a $154,500 entry. Equity gained on principal adds $997/yr while 5% annual appreciation compounds into $42,686 by year five. Five-year ROI records 181.82% and total cumulative return in cash reaches $93,123. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,582/mo property income versus a $756/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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Listed by: Lisa Leblanc • Cressy & Everett - South Bend
Mls Name: IRMLS
Mls Provider:
Mls ID: #202514369
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.