358 S Nappanee StNappaneeIN46550
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 358 S Nappanee St, Nappanee, IN, 46550 in Nappanee speaks for itself: 11.72% gross on a $235,000 price, generating $2,294/mo in rent and $884/mo in net income after the $1,057/mo debt service. DSCR 2.17, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $10,605 stacks alongside $64,926 in projected five-year appreciation and $2,164/yr in principal reduction. Projected total cumulative return: $145,748.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 7.0% |
| Monthly Cash Flow | $884 | $300 |
City averages based on Nappanee market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,294 |
| Total Monthly Debt Service | $1,317 |
| DSCR Ratio | 1.74x |
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 1900
0.48 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46550, Nappanee, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,876 (100%) |
| Owner Occupied HU | 3,359 (68.9%) |
| Renter Occupied HU | 1,222 (25.1%) |
| Vacant Housing Units | 295 ( 6.1%) |
| Median Home Value | $271,504 |
| Average Home Value | $301,080 |
Housing Distribution
Address Breakdown
Residential
4,679
Single Family
4,518
Multi-Family
161
Businesses
386
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 1900
0.48 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46550, Nappanee, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,876 (100%) |
| Owner Occupied HU | 3,359 (68.9%) |
| Renter Occupied HU | 1,222 (25.1%) |
| Vacant Housing Units | 295 ( 6.1%) |
| Median Home Value | $271,504 |
| Average Home Value | $301,080 |
Housing Distribution
Address Breakdown
Residential
4,679
Single Family
4,518
Multi-Family
161
Businesses
386
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Angela Racolta • Keller Williams Thrive North
Mls Name: IRMLS
Mls Provider:
Mls ID: #202518379
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.