3206 Covington Lake DrFort WayneIN46804
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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 Fort Wayne at 3206 Covington Lake Dr, Fort Wayne, IN, 46804 offers a 6.62% rental yield on a $790,000 purchase with $4,356/mo rent. 65% in year one. Equity gained on principal adds $5,098/yr while 5% annual appreciation supports $218,262 over five years. Portfolio math shows five-year ROI at 85.66% and total cumulative return in cash at $222,636. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,356/mo property income against a $3,867/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1992
1.80 Acres lot
$N/A/sqft
$1,500 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46804, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,704 (100%) |
| Owner Occupied HU | 8,866 (64.7%) |
| Renter Occupied HU | 4,275 (31.2%) |
| Vacant Housing Units | 563 ( 4.1%) |
| Median Home Value | $272,764 |
| Average Home Value | $304,067 |
Housing Distribution
Address Breakdown
Residential
13,065
Single Family
11,568
Multi-Family
1,497
Businesses
1,188
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Listed by: Bette Sue Rowe • Coldwell Banker Real Estate Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202436213
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.