54 N Michigan AveHobartIN46342
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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 Hobart at 54 N Michigan Ave, Hobart, IN, 46342 offers $2,086/mo rent that, after a $1,835/mo payment. Total monthly income is $2,086/mo. Return on cash invested measures 18.32% in year one, and rental yield stands at 6.68% at a $375,000 entry. Equity gained on principal adds $2,420/yr while 5% annual appreciation compounds into $103,606 by year five. Five-year ROI records 94.1% and total cumulative return in cash reaches $116,979. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,086/mo property income versus a $1,835/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1899
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46342, Hobart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,699 (100%) |
| Owner Occupied HU | 9,996 (73.0%) |
| Renter Occupied HU | 2,806 (20.5%) |
| Vacant Housing Units | 897 ( 6.5%) |
| Median Home Value | $231,713 |
| Average Home Value | $262,010 |
Housing Distribution
Address Breakdown
Residential
13,166
Single Family
11,782
Multi-Family
1,384
Businesses
705
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