305 Morningside DrNappaneeIN46550
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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 Nappanee at 305 Morningside Dr, Nappanee, IN, 46550 uses $67,958 cash to close to unlock $7,677/yr annual cash flow and $640/mo monthly cash flow. Total monthly income runs $1,870/mo, and a $1,003/mo payment keeps the spread at $640/mo. Purchase price stands at $205,000, and rental yield measures 10.95% with $1,870/mo rent. Return on cash invested shows 31.21% in year one, and 5% annual appreciation builds toward $56,638 over five years. Five-year ROI reaches 163.17% and total cumulative return in cash records $110,886. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,870/mo property income covering a $1,003/mo payment rather than investor’s personal income.
Single Family
Built in 1949
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46550, Nappanee, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,876 (100%) |
| Owner Occupied HU | 3,359 (68.9%) |
| Renter Occupied HU | 1,222 (25.1%) |
| Vacant Housing Units | 295 ( 6.1%) |
| Median Home Value | $271,504 |
| Average Home Value | $301,080 |
Housing Distribution
Address Breakdown
Residential
4,679
Single Family
4,518
Multi-Family
161
Businesses
386
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