3420 McCormick AveFort WayneIN46803
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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 3420 McCormick Ave, Fort Wayne, IN, 46803 uses $46,377 cash to close to unlock $4,571/yr annual cash flow and $381/mo monthly cash flow. Total monthly income runs $1,221/mo, and a $685/mo payment keeps the spread at $381/mo. Purchase price stands at $139,900, and rental yield measures 10.47% with $1,221/mo rent. Return on cash invested shows 29.77% in year one, and 5% annual appreciation builds toward $38,652 over five years. Five-year ROI reaches 155.46% and total cumulative return in cash records $72,099. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,221/mo property income covering a $685/mo payment rather than investor’s personal income.
Single Family
Built in 1954
0.62 Acres 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
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Listed by: Arturo Cruz Jr. • eXp Realty, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202522849
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.