313 N Cornell CirFort WayneIN46807
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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
Rental property for sale in Fort Wayne at 313 N Cornell Cir, Fort Wayne, IN, 46807 priced at $220,000 converts $1,733/mo rent into $412/mo cash flow after a $1,077/mo obligation. Total monthly income equals $1,733/mo, and annual cash flow totals $4,946/yr on $72,930 invested. Return on cash invested prints 26.69% in year one, and rental yield reads 9.45% against a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation compiles into $60,782 by year five. Five-year ROI reaches 139.02% and total cumulative return in cash sums $101,387. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,733/mo property income covering a $1,077/mo payment, not borrower’s personal income.
Single Family
Built in 1927
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46807, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,888 (100%) |
| Owner Occupied HU | 3,948 (57.3%) |
| Renter Occupied HU | 2,419 (35.1%) |
| Vacant Housing Units | 521 ( 7.6%) |
| Median Home Value | $189,648 |
| Average Home Value | $217,450 |
Housing Distribution
Address Breakdown
Residential
6,741
Single Family
6,404
Multi-Family
337
Businesses
242
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Listed by: Erica Smelser • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls Provider:
Mls ID: #202528412
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.