3620 Raleigh CtMishawakaIN46545
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 3620 Raleigh Ct, Mishawaka, IN, 46545 in Mishawaka, $225,000, 8.94% gross yield, $157/mo net income. Consider it a market-entry position, the $1,751/mo rent covers the $1,012/mo payment with a margin, and 5%/yr appreciation is projected to add $62,163 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.73) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $99,912.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 7.0% |
| Monthly Cash Flow | $157 | $350 |
City averages based on Mishawaka market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,751 |
| Total Monthly Debt Service | $1,444 |
| DSCR Ratio | 1.21x |
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.
Condo
Built in 2004
9,147 sqft lot
$N/A/sqft
$550 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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
Condo
Built in 2004
9,147 sqft lot
$N/A/sqft
$550 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kirsten Sharpe • Sharpe Realty, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202521747
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.