308 Ward DrElkhartIL62634
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 308 Ward Dr, Elkhart, IL, 62634 in Elkhart earns a 10.18% gross yield at $255,000. Rent of $2,162/mo nets $394/mo after the $1,147/mo mortgage. The 1.88 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $70,452 and $2,349/yr in equity accumulation project a total cumulative return of $122,843.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 7.0% |
| Monthly Cash Flow | $394 | $200 |
City averages based on Elkhart market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,162 |
| Total Monthly Debt Service | $1,667 |
| DSCR Ratio | 1.30x |
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.
Manufactured
Built in 1973
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62634, Elkhart, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 422 (100%) |
| Owner Occupied HU | 331 (78.4%) |
| Renter Occupied HU | 54 (12.8%) |
| Vacant Housing Units | 37 ( 8.8%) |
| Median Home Value | $144,063 |
| Average Home Value | $202,560 |
Housing Distribution
Address Breakdown
Residential
295
Single Family
295
Multi-Family
0
Businesses
24
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
Manufactured
Built in 1973
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62634, Elkhart, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 422 (100%) |
| Owner Occupied HU | 331 (78.4%) |
| Renter Occupied HU | 54 (12.8%) |
| Vacant Housing Units | 37 ( 8.8%) |
| Median Home Value | $144,063 |
| Average Home Value | $202,560 |
Housing Distribution
Address Breakdown
Residential
295
Single Family
295
Multi-Family
0
Businesses
24
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices