508 Geyer AveMishawakaIN46544
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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 Mishawaka at 508 Geyer Ave, Mishawaka, IN, 46544 priced at $177,000 converts $1,427/mo rent into $365/mo cash flow after a $866/mo obligation. Total monthly income equals $1,427/mo, and annual cash flow totals $4,378/yr on $58,676 invested. Return on cash invested prints 27.37% in year one, and rental yield reads 9.67% against a $177,000 entry. Equity gained on principal adds $1,142/yr, while 5% annual appreciation compiles into $48,902 by year five. Five-year ROI reaches 142.63% and total cumulative return in cash sums $83,687. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,427/mo property income covering a $866/mo payment, not borrower’s personal income.
Single Family
Built in 1961
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46544, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,766 (100%) |
| Owner Occupied HU | 9,195 (62.3%) |
| Renter Occupied HU | 4,614 (31.2%) |
| Vacant Housing Units | 957 ( 6.5%) |
| Median Home Value | $182,707 |
| Average Home Value | $212,365 |
Housing Distribution
Address Breakdown
Residential
14,256
Single Family
11,948
Multi-Family
2,308
Businesses
651
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Listed by: Virginia Montero-Smith • RE/MAX 100
Mls Name: IRMLS
Mls Provider:
Mls ID: #202509587
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.