419 Spruce DrMichigan 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 419 Spruce Dr, Michigan City, IN, 46360 priced at $249,900 pairs $2,459/mo rent with $959/mo cash flow after a $1,223/mo payment. Total monthly income equals $2,459/mo, and annual cash flow comes to $11,508/yr on $82,842 invested. Return on cash invested is 33.8% in year one, and rental yield stands at 11.81% on a $249,900 basis. Equity gained on principal adds $1,613/yr, and 5% annual appreciation accumulates to $69,043 by year five. Five-year ROI measures 177.15% and total cumulative return in cash reaches $146,750. For financing, Ziffy Mortgage’s DSCR program evaluates $2,459/mo property income against a $1,223/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1966
0.36 Acres 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: Brian Volckmann • @properties/Christie's Intl RE
Mls Name: NIRA
Mls ID: #824852