550 Lincolnway WMishawakaIN46544
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.16% yield at 550 Lincolnway W, Mishawaka, IN, 46544 in Mishawaka is solid, but the $971/mo payment compresses net cash flow to $172/mo at $215,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $59,649 by year five, and $1,988/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.51) without U.S. income documentation. Total projected return: $92,772.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 7.0% |
| Monthly Cash Flow | $172 | $350 |
City averages based on Mishawaka market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,468 |
| Total Monthly Debt Service | $1,210 |
| DSCR Ratio | 1.21x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1892
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46544, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,766 (100%) |
| Owner Occupied HU | 9,195 (62.3%) |
| Renter Occupied HU | 4,614 (31.2%) |
| Vacant Housing Units | 957 ( 6.5%) |
| Median Home Value | $182,707 |
| Average Home Value | $212,365 |
Housing Distribution
Address Breakdown
Residential
14,256
Single Family
11,948
Multi-Family
2,308
Businesses
651
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Multi Family
Built in 1892
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46544, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,766 (100%) |
| Owner Occupied HU | 9,195 (62.3%) |
| Renter Occupied HU | 4,614 (31.2%) |
| Vacant Housing Units | 957 ( 6.5%) |
| Median Home Value | $182,707 |
| Average Home Value | $212,365 |
Housing Distribution
Address Breakdown
Residential
14,256
Single Family
11,948
Multi-Family
2,308
Businesses
651
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices