511 S Wayne StGaryIN46403
INVESTMENT ANALYSIS
Investment Verdict
Solid Income511 S Wayne St, Gary, IN, 46403 in Gary is a solid income-producing rental, 9.06% gross yield, $1,169/mo rent, $239/mo net cash flow on a $154,900 buy. DSCR 1.68 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $42,796 and $1,427/yr in principal reduction project a total cumulative return of $74,001.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 8.5% |
| Monthly Cash Flow | $239 | $450 |
City averages based on Gary market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,169 |
| Total Monthly Debt Service | $868 |
| DSCR Ratio | 1.35x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1970
7,187 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46403, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,395 (100%) |
| Owner Occupied HU | 2,740 (42.8%) |
| Renter Occupied HU | 2,443 (38.2%) |
| Vacant Housing Units | 1,212 (19.0%) |
| Median Home Value | $169,037 |
| Average Home Value | $237,071 |
Housing Distribution
Address Breakdown
Residential
5,555
Single Family
5,028
Multi-Family
527
Businesses
250
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
Single Family
Built in 1970
7,187 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46403, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,395 (100%) |
| Owner Occupied HU | 2,740 (42.8%) |
| Renter Occupied HU | 2,443 (38.2%) |
| Vacant Housing Units | 1,212 (19.0%) |
| Median Home Value | $169,037 |
| Average Home Value | $237,071 |
Housing Distribution
Address Breakdown
Residential
5,555
Single Family
5,028
Multi-Family
527
Businesses
250
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices