3509 Carolina StGaryIN46409
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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 Gary at 3509 Carolina St, Gary, IN, 46409 priced at $179,900 converts $1,388/mo rent into $308/mo cash flow after a $881/mo obligation. Total monthly income equals $1,388/mo, and annual cash flow totals $3,691/yr on $59,637 invested. Return on cash invested prints 26.1% in year one, and rental yield reads 9.26% against a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation compiles into $49,703 by year five. Five-year ROI reaches 135.84% and total cumulative return in cash sums $81,009. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,388/mo property income covering a $881/mo payment, not borrower’s personal income.
Single Family
Built in 1951
6,229 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46409, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,767 (100%) |
| Owner Occupied HU | 1,367 (36.3%) |
| Renter Occupied HU | 1,212 (32.2%) |
| Vacant Housing Units | 1,188 (31.5%) |
| Median Home Value | $87,976 |
| Average Home Value | $152,610 |
Housing Distribution
Address Breakdown
Residential
2,908
Single Family
2,838
Multi-Family
70
Businesses
198
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Listed by: Lutrell Kirk • Kirk & Company Your Home Sold
Mls Name: NIRA
Mls Provider:
Mls ID: #817728
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