52115 Iris CtElkhartIN46514
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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 Elkhart at 52115 Iris Ct, Elkhart, IN, 46514 offers a 13.05% rental yield on a $265,900 purchase with $2,891/mo rent. Total monthly income registers $2,891/mo, and a $1,301/mo payment leaves $1,241/mo available for distribution. Annual cash flow reaches $14,889/yr on $88,146 to close, and return on cash invested stands at 36.8% in year one. Equity gained on principal adds $1,716/yr while 5% annual appreciation supports $73,463 over five years. Portfolio math shows five-year ROI at 193.44% and total cumulative return in cash at $170,506. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,891/mo property income against a $1,301/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1997
0.65 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46514, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,284 (100%) |
| Owner Occupied HU | 11,774 (64.4%) |
| Renter Occupied HU | 5,434 (29.7%) |
| Vacant Housing Units | 1,076 ( 5.9%) |
| Median Home Value | $219,702 |
| Average Home Value | $252,263 |
Housing Distribution
Address Breakdown
Residential
17,694
Single Family
16,264
Multi-Family
1,430
Businesses
1,341
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Listed by: Gabriella U Garcia • Hallmark Real Estate, Inc.
Mls Name: IRMLS
Mls Provider:
Mls ID: #202427078
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.