501 N 2nd StElkhartIN46516
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
Investment Highlights
Rental property for sale in Elkhart at 501 N 2nd St, Elkhart, IN, 46516 generates $1,462/mo in rent and, after a $1,052/mo payment, leaves $151/mo in cash flow. Total monthly income is $1,462/mo, and annual cash flow is $1,815/yr on $71,273 invested. Return on cash invested sits at 22.46% in year one, and rental yield is 8.16% on a $215,000 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation builds toward $59,401 over five years. Five-year ROI reaches 116.43% and total cumulative return in cash sums $82,981. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,462/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46516, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,463 (100%) |
| Owner Occupied HU | 7,221 (53.6%) |
| Renter Occupied HU | 5,279 (39.2%) |
| Vacant Housing Units | 963 ( 7.2%) |
| Median Home Value | $172,789 |
| Average Home Value | $240,548 |
Housing Distribution
Address Breakdown
Residential
13,032
Single Family
11,652
Multi-Family
1,380
Businesses
1,157
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Edelmiro Rodriguez • R Home Real Estate, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202514627
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.