4038 Rhode Island StGaryIN46409
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 4038 Rhode Island St, Gary, IN, 46409 in Gary. Priced at $219,900, it generates $2,370/mo in gross rent and $1,050/mo in net monthly cash flow, a 12.93% yield that comfortably supports the 2.40 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $12,600. Five-year appreciation: $60,754. Equity from principal paydown: $2,025/yr. Total projected cumulative return: $150,809.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.9% | 8.5% |
| Monthly Cash Flow | $1,050 | $450 |
City averages based on Gary market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,370 |
| Total Monthly Debt Service | $1,233 |
| DSCR Ratio | 1.92x |
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 1930
7,448 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
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 1930
7,448 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices