409 E Lowell AveMishawakaIN46545
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 409 E Lowell Ave, Mishawaka, IN, 46545 in Mishawaka: $2,339/mo in rent, $1,077/mo net, 14.97% gross yield, all on a $187,500 acquisition. The 2.77 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $51,803 in value, and $1,727/yr in principal paydown steadily builds equity. Projected total cumulative return: $140,866.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 15% | 7.0% |
| Monthly Cash Flow | $1,077 | $350 |
City averages based on Mishawaka market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,339 |
| Total Monthly Debt Service | $1,187 |
| DSCR Ratio | 1.97x |
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 1948
0.25 Acres lot
$N/A/sqft
No 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
Single Family
Built in 1948
0.25 Acres lot
$N/A/sqft
No 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: Matthew Pleasant • Howard Hanna SB Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202518422
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.