406 Main StMichigan CityIN46360
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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 Michigan City at 406 Main St, Michigan City, IN, 46360 offers $1,583/mo rent that, after a $803/mo payment, leaves $574/mo cash flow. Total monthly income is $1,583/mo, and annual cash flow is $6,884/yr on $54,366 cash. Return on cash invested measures 32.57% in year one, and rental yield stands at 11.58% at a $164,000 entry. Equity gained on principal adds $1,058/yr while 5% annual appreciation compounds into $45,310 by year five. Five-year ROI records 170.73% and total cumulative return in cash reaches $92,817. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,583/mo property income versus a $803/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1953
5,501 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
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Listed by: Joy Pawlak • McColly Real Estate
Mls Name: NIRA
Mls Provider:
Mls ID: #822159
Disclaimer: Copyright 2025 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.