302 E Broadway StMishawakaIN46545
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 302 E Broadway St, Mishawaka, IN, 46545 in Mishawaka hard to pass up. The 12.29% gross yield on a $154,500 purchase results in $1,582/mo in rent and $628/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.28). Annual cash flow of $7,539, five-year appreciation of $42,686, and $1,423/yr in equity build-up combine for a projected total cumulative return of $99,010.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.3% | 7.0% |
| Monthly Cash Flow | $628 | $350 |
City averages based on Mishawaka market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,582 |
| Total Monthly Debt Service | $892 |
| DSCR Ratio | 1.77x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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.