3113 Summit AveLogansportIN46947
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeReliable, bankable, and well-priced, 3113 Summit Ave, Logansport, IN, 46947 in Logansport delivers $1,687/mo in gross rent and $250/mo in net monthly income at a $239,500 entry. The 8.45% yield and 1.57 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $66,169 over five years and $2,206/yr in equity from loan paydown, total projected return is $106,678.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.0% |
| Monthly Cash Flow | $250 | $300 |
City averages based on Logansport market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,687 |
| Total Monthly Debt Service | $1,342 |
| DSCR Ratio | 1.26x |
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 1951
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46947, Logansport, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,221 (100%) |
| Owner Occupied HU | 7,740 (63.3%) |
| Renter Occupied HU | 3,344 (27.4%) |
| Vacant Housing Units | 1,137 ( 9.3%) |
| Median Home Value | $138,268 |
| Average Home Value | $164,868 |
Housing Distribution
Address Breakdown
Residential
11,475
Single Family
10,917
Multi-Family
558
Businesses
890
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 1951
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46947, Logansport, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,221 (100%) |
| Owner Occupied HU | 7,740 (63.3%) |
| Renter Occupied HU | 3,344 (27.4%) |
| Vacant Housing Units | 1,137 ( 9.3%) |
| Median Home Value | $138,268 |
| Average Home Value | $164,868 |
Housing Distribution
Address Breakdown
Residential
11,475
Single Family
10,917
Multi-Family
558
Businesses
890
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bob J Wildermuth • Two Rivers Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202443255
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.