461 Washington Park BlvdMichigan 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 461 Washington Park Blvd, Michigan City, IN, 46360 offers $1,984/mo rent that, after a $1,806/mo payment. Total monthly income is $1,984/mo. Return on cash invested measures 17.49% in year one, and rental yield stands at 6.45% at a $369,000 entry. Equity gained on principal adds $2,381/yr while 5% annual appreciation compounds into $101,948 by year five. Five-year ROI records 89.7% and total cumulative return in cash reaches $109,719. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,984/mo property income versus a $1,806/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
7,501 sqft 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: Monica O'Donnell • North Star Properties, LLC
Mls Name: NIRA
Mls Provider:
Mls ID: #823308
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