409 Corwin LnFort WayneIN46816
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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 Fort Wayne at 409 Corwin Ln, Fort Wayne, IN, 46816 priced at $200,000 converts $2,153/mo rent into $952/mo cash flow after a $979/mo obligation. Total monthly income equals $2,153/mo, and annual cash flow totals $11,428/yr on $66,300 invested. Return on cash invested prints 37.15% in year one, and rental yield reads 12.92% against a $200,000 entry. Equity gained on principal adds $1,291/yr, while 5% annual appreciation compiles into $55,256 by year five. Five-year ROI reaches 195.07% and total cumulative return in cash sums $129,332. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,153/mo property income covering a $979/mo payment, not borrower’s personal income.
Single Family
Built in 1957
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46816, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,306 (100%) |
| Owner Occupied HU | 3,989 (48.0%) |
| Renter Occupied HU | 3,575 (43.0%) |
| Vacant Housing Units | 742 ( 8.9%) |
| Median Home Value | $165,445 |
| Average Home Value | $214,685 |
Housing Distribution
Address Breakdown
Residential
7,825
Single Family
6,037
Multi-Family
1,788
Businesses
192
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Listed by: Haris Hrelja • CENTURY 21 Bradley Realty, Inc
Mls Name: IRMLS
Mls Provider:
Mls ID: #202540147
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.