423 W 53rd AveGaryIN46410
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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
Investment Highlights
Investment property for sale in Gary at 423 W 53rd Ave, Gary, IN, 46410 uses $88,809 cash to close to unlock $12,793/yr annual cash flow and $1,066/mo monthly cash flow. Total monthly income runs $2,674/mo, and a $1,311/mo payment keeps the spread at $1,066/mo. Purchase price stands at $267,900, and rental yield measures 11.98% with $2,674/mo rent. Return on cash invested shows 34.31% in year one, and 5% annual appreciation builds toward $74,016 over five years. Five-year ROI reaches 179.89% and total cumulative return in cash records $159,758. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,674/mo property income covering a $1,311/mo payment rather than investor’s personal income.
Single Family
Built in 1965
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46410, Merrillville, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,618 (100%) |
| Owner Occupied HU | 10,197 (57.9%) |
| Renter Occupied HU | 6,280 (35.6%) |
| Vacant Housing Units | 1,141 ( 6.5%) |
| Median Home Value | $223,839 |
| Average Home Value | $250,345 |
Housing Distribution
Address Breakdown
Residential
17,068
Single Family
13,383
Multi-Family
3,685
Businesses
1,991
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Listed by: Steven Monsma • Weichert Realtors - Shoreline
Mls Name: NIRA
Mls Provider:
Mls ID: #810451
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-30 05:27:53 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#185)