3214 Burr Oak AveElkhartIN46517
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 3214 Burr Oak Ave, Elkhart, IN, 46517 in Elkhart. Rental yield 5.14%. At $275,000 with 5.14% gross yield, current distributions are modest, but the 5% appreciation rate projects $75,977 in new equity by year five, complemented by $2,533/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.95) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $73,647.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.1% | 6.2% |
| Monthly Cash Flow | $(472) | $450 |
City averages based on Elkhart market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,178 |
| Total Monthly Debt Service | $1,541 |
| DSCR Ratio | 0.76x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2025
0.71 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
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 2025
0.71 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Amy Mishler • SUNRISE Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202517924
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.