509 Water Meade PlFort WayneIN46825
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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 Fort Wayne at 509 Water Meade Pl, Fort Wayne, IN, 46825 priced at $327,500 converts $2,405/mo rent into $321/mo cash flow after a $1,603/mo obligation. Total monthly income equals $2,405/mo, and annual cash flow totals $3,853/yr on $108,566 invested. Return on cash invested prints 23.46% in year one, and rental yield reads 8.81% against a $327,500 entry. Equity gained on principal adds $2,113/yr, while 5% annual appreciation compiles into $90,482 by year five. Five-year ROI reaches 122.13% and total cumulative return in cash sums $132,594. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,405/mo property income covering a $1,603/mo payment, not borrower’s personal income.
Single Family
Built in 1991
0.29 Acres lot
$N/A/sqft
$200 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46825, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,678 (100%) |
| Owner Occupied HU | 7,944 (58.1%) |
| Renter Occupied HU | 4,937 (36.1%) |
| Vacant Housing Units | 797 ( 5.8%) |
| Median Home Value | $237,440 |
| Average Home Value | $265,249 |
Housing Distribution
Address Breakdown
Residential
13,252
Single Family
11,288
Multi-Family
1,964
Businesses
1,404
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Listed by: Joelle Ruefer • Encore Sotheby's International Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202521169
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.