414 Madison AveNew ChicagoIN46342
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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 New Chicago at 414 Madison Ave, New Chicago, IN, 46342 offers $1,134/mo rent that, after a $734/mo payment, leaves $234/mo cash flow. Total monthly income is $1,134/mo, and annual cash flow is $2,806/yr on $49,692 cash. Return on cash invested measures 25.56% in year one, and rental yield stands at 9.08% at a $149,900 entry. Equity gained on principal adds $967/yr while 5% annual appreciation compounds into $41,415 by year five. Five-year ROI records 132.89% and total cumulative return in cash reaches $66,035. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,134/mo property income versus a $734/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1952
5,837 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46342, Hobart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,699 (100%) |
| Owner Occupied HU | 9,996 (73.0%) |
| Renter Occupied HU | 2,806 (20.5%) |
| Vacant Housing Units | 897 ( 6.5%) |
| Median Home Value | $231,713 |
| Average Home Value | $262,010 |
Housing Distribution
Address Breakdown
Residential
13,166
Single Family
11,782
Multi-Family
1,384
Businesses
705
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Listed by: Melody Neagu • McColly Real Estate
Mls Name: NIRA
Mls ID: #826439