53420 Old Farm RdElkhartIN46514
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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 Elkhart at 53420 Old Farm Rd, Elkhart, IN, 46514 generates $2,324/mo in rent and, after a $1,786/mo payment, leaves $133/mo in cash flow. Total monthly income is $2,324/mo, and annual cash flow is $1,602/yr on $120,998 invested. Return on cash invested sits at 21.23% in year one, and rental yield is 7.64% on a $365,000 entry. Equity gained on principal adds $2,355/yr, while 5% annual appreciation builds toward $100,843 over five years. Five-year ROI reaches 109.71% and total cumulative return in cash sums $132,751. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,324/mo property income rather than buyer’s personal income.
Single Family
Built in 1998
0.88 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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