406 Redwood DrKokomoIN46902
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.32% yield at 406 Redwood Dr, Kokomo, IN, 46902 in Kokomo is solid, but the $698/mo payment compresses net cash flow to $182/mo at $155,300. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $42,907 by year five, and $1,430/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.97) without U.S. income documentation. Total projected return: $85,292.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 7.2% |
| Monthly Cash Flow | $182 | $450 |
City averages based on Kokomo market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,373 |
| Total Monthly Debt Service | $902 |
| DSCR Ratio | 1.52x |
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 1972
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46902, Kokomo, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,938 (100%) |
| Owner Occupied HU | 11,124 (62.0%) |
| Renter Occupied HU | 5,386 (30.0%) |
| Vacant Housing Units | 1,428 ( 8.0%) |
| Median Home Value | $188,290 |
| Average Home Value | $212,863 |
Housing Distribution
Address Breakdown
Residential
17,385
Single Family
15,243
Multi-Family
2,142
Businesses
1,038
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 1972
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46902, Kokomo, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,938 (100%) |
| Owner Occupied HU | 11,124 (62.0%) |
| Renter Occupied HU | 5,386 (30.0%) |
| Vacant Housing Units | 1,428 ( 8.0%) |
| Median Home Value | $188,290 |
| Average Home Value | $212,863 |
Housing Distribution
Address Breakdown
Residential
17,385
Single Family
15,243
Multi-Family
2,142
Businesses
1,038
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices