514 Lake Shore DrMichigan CityIN46360
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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
Investment property for sale in Michigan City at 514 Lake Shore Dr, Michigan City, IN, 46360 with 5% annual appreciation on a $995,000 basis while $1,508/mo rent supports operations. 69% in year one. Equity gained on principal adds $6,421/yr, and five-year appreciation sums $274,900 alongside rental yield of 1.82%. Five-year ROI measures 15.61% and total cumulative return in cash totals $51,102. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,508/mo property income versus a $4,870/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Multi Family
Built in 1919
3,484 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
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Listed by: Kimberly Sut • Listing Leaders Executive Real Estate Group, LLC
Mls Name: IRMLS
Mls ID: #202545357