500 Millers CtNappaneeIN46550
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 500 Millers Ct, Nappanee, IN, 46550 in Nappanee. Rental yield 3.61%. At $368,900 with 3.61% gross yield, current distributions are modest, but the 5% appreciation rate projects $101,920 in new equity by year five, complemented by $3,398/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.67) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $68,553.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.6% | 7.0% |
| Monthly Cash Flow | $(1,104) | $300 |
City averages based on Nappanee market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,110 |
| Total Monthly Debt Service | $2,068 |
| DSCR Ratio | 0.54x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2023
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46550, Nappanee, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,876 (100%) |
| Owner Occupied HU | 3,359 (68.9%) |
| Renter Occupied HU | 1,222 (25.1%) |
| Vacant Housing Units | 295 ( 6.1%) |
| Median Home Value | $271,504 |
| Average Home Value | $301,080 |
Housing Distribution
Address Breakdown
Residential
4,679
Single Family
4,518
Multi-Family
161
Businesses
386
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 2023
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46550, Nappanee, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,876 (100%) |
| Owner Occupied HU | 3,359 (68.9%) |
| Renter Occupied HU | 1,222 (25.1%) |
| Vacant Housing Units | 295 ( 6.1%) |
| Median Home Value | $271,504 |
| Average Home Value | $301,080 |
Housing Distribution
Address Breakdown
Residential
4,679
Single Family
4,518
Multi-Family
161
Businesses
386
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices