512 Cleveland AveMichigan CityIN46360
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
Investment Highlights
Rental property for sale in Michigan City at 512 Cleveland Ave, Michigan City, IN, 46360 priced at $152,000 pairs $1,153/mo rent with $241/mo cash flow after a $744/mo payment. Total monthly income equals $1,153/mo, and annual cash flow comes to $2,886/yr on $50,388 invested. Return on cash invested is 25.64% in year one, and rental yield stands at 9.1% on a $152,000 basis. Equity gained on principal adds $981/yr, and 5% annual appreciation accumulates to $41,995 by year five. Five-year ROI measures 133.34% and total cumulative return in cash reaches $67,186. For financing, Ziffy Mortgage’s DSCR program evaluates $1,153/mo property income against a $744/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1945
6,799 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lisa Nemcek • Key Realty Indiana, LLC
Mls Name: NIRA
Mls Provider:
Mls ID: #823239
Disclaimer: Copyright 2025 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.