3602 Michigan StNew ChicagoIN46342
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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 New Chicago at 3602 Michigan St, New Chicago, IN, 46342 uses $86,190 cash to close to unlock $9,970/yr annual cash flow and $831/mo monthly cash flow. Total monthly income runs $2,392/mo, and a $1,273/mo payment keeps the spread at $831/mo. Purchase price stands at $260,000, and rental yield measures 11.04% with $2,392/mo rent. Return on cash invested shows 31.48% in year one, and 5% annual appreciation builds toward $71,833 over five years. Five-year ROI reaches 164.63% and total cumulative return in cash records $141,893. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,392/mo property income covering a $1,273/mo payment rather than investor’s personal income.
Single Family
Built in 1924
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46342, Hobart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,699 (100%) |
| Owner Occupied HU | 9,996 (73.0%) |
| Renter Occupied HU | 2,806 (20.5%) |
| Vacant Housing Units | 897 ( 6.5%) |
| Median Home Value | $231,713 |
| Average Home Value | $262,010 |
Housing Distribution
Address Breakdown
Residential
13,166
Single Family
11,782
Multi-Family
1,384
Businesses
705
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Listed by: Penny O'Neill • Home Connection Realty, Inc.
Mls Name: NIRA
Mls ID: #827286