514 S Lake AveMichigan 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
Rental property for sale in Michigan City at 514 S Lake Ave, Michigan City, IN, 46360 priced at $547,000 pairs $2,860/mo rent with after a $2,677/mo payment. Total monthly income equals $2,860/mo. Return on cash invested is 15.64% in year one, and rental yield stands at 6.27% on a $547,000 basis. Equity gained on principal adds $3,530/yr, and 5% annual appreciation accumulates to $151,126 by year five. Five-year ROI measures 80.24% and total cumulative return in cash reaches $144,400. For financing, Ziffy Mortgage’s DSCR program evaluates $2,860/mo property income against a $2,677/mo payment instead of your W2s, 1099s, or Tax returns.
Townhouse
Built in 2022
3,920 sqft lot
$N/A/sqft
$240 monthly 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: Lisa Gaff • White Hat Realty Group, LLC
Mls Name: NIRA
Mls Provider:
Mls ID: #817734
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.