309 Redpath 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
Investment property for sale in Michigan City at 309 Redpath Ave, Michigan City, IN, 46360 offers a 11.87% rental yield on a $159,900 purchase with $1,582/mo rent. Total monthly income registers $1,582/mo, and a $783/mo payment leaves $622/mo available for distribution. Annual cash flow reaches $7,461/yr on $53,007 to close, and return on cash invested stands at 33.98% in year one. Equity gained on principal adds $1,032/yr while 5% annual appreciation supports $44,177 over five years. Portfolio math shows five-year ROI at 178.09% and total cumulative return in cash at $94,398. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,582/mo property income against a $783/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1961
7,296 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: Joy Pawlak • McColly Real Estate
Mls Name: NIRA
Mls ID: #832378