3208 McCormick AveFort WayneIN46803
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 3208 McCormick Ave, Fort Wayne, IN, 46803 in Fort Wayne is narrow, $176/mo net on $776/mo rent after the $450/mo debt service, but the property operates at break-even-plus, not a loss. At $100,000 with a 9.31% yield, the long-run equity case via 5% appreciation ($27,628 over five years) and $921/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.72 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $49,157.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 6.8% |
| Monthly Cash Flow | $176 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $776 |
| Total Monthly Debt Service | $561 |
| DSCR Ratio | 1.38x |
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 1945
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46803, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,555 (100%) |
| Owner Occupied HU | 1,546 (33.9%) |
| Renter Occupied HU | 2,353 (51.7%) |
| Vacant Housing Units | 656 (14.4%) |
| Median Home Value | $85,510 |
| Average Home Value | $139,154 |
Housing Distribution
Address Breakdown
Residential
3,973
Single Family
3,660
Multi-Family
313
Businesses
558
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 1945
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46803, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,555 (100%) |
| Owner Occupied HU | 1,546 (33.9%) |
| Renter Occupied HU | 2,353 (51.7%) |
| Vacant Housing Units | 656 (14.4%) |
| Median Home Value | $85,510 |
| Average Home Value | $139,154 |
Housing Distribution
Address Breakdown
Residential
3,973
Single Family
3,660
Multi-Family
313
Businesses
558
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Steve Koleno • Beycome Brokerage Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202537600
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.