506-508 S Harris StSouth BendIN46619
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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 South Bend at 506-508 S Harris St, South Bend, IN, 46619 generates $1,560/mo in rent and, after a $1,223/mo payment, leaves $60/mo in cash flow. Total monthly income is $1,560/mo, and annual cash flow is $720/yr on $82,842 invested. Return on cash invested sits at 20.78% in year one, and rental yield is 7.49% on a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 107.33% and total cumulative return in cash sums $88,910. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,560/mo property income rather than buyer’s personal income.
Multi Family
Built in 1900
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46619, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,203 (100%) |
| Owner Occupied HU | 5,324 (64.9%) |
| Renter Occupied HU | 2,198 (26.8%) |
| Vacant Housing Units | 681 ( 8.3%) |
| Median Home Value | $137,308 |
| Average Home Value | $175,526 |
Housing Distribution
Address Breakdown
Residential
7,796
Single Family
7,461
Multi-Family
335
Businesses
526
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Listed by: Brenda S Alvarez • Legacy Real Estate Brokers
Mls Name: IRMLS
Mls ID: #202538193