509 E Russ AveMishawakaIN46545
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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 509 E Russ Ave, Mishawaka, IN, 46545 offers $1,391/mo rent that, after a $857/mo payment, leaves $337/mo cash flow. Total monthly income is $1,391/mo, and annual cash flow is $4,038/yr on $58,013 cash. Return on cash invested measures 26.87% in year one, and rental yield stands at 9.54% at a $175,000 entry. Equity gained on principal adds $1,129/yr while 5% annual appreciation compounds into $48,349 by year five. Five-year ROI records 139.99% and total cumulative return in cash reaches $81,211. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,391/mo property income versus a $857/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1976
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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Listed by: Jennea Schirr • McKinnies Realty, LLC Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202523845
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.