56841 SouthgateElkhartIN46516
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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 56841 Southgate, Elkhart, IN, 46516 uses $84,499 cash to close to unlock $6,846/yr annual cash flow and $570/mo monthly cash flow. Total monthly income runs $2,101/mo, and a $1,248/mo payment keeps the spread at $570/mo. Purchase price stands at $254,900, and rental yield measures 9.89% with $2,101/mo rent. Return on cash invested shows 28.01% in year one, and 5% annual appreciation builds toward $70,424 over five years. Five-year ROI reaches 146.07% and total cumulative return in cash records $123,432. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,101/mo property income covering a $1,248/mo payment rather than investor’s personal income.
Single Family
Built in 1988
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46516, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,463 (100%) |
| Owner Occupied HU | 7,221 (53.6%) |
| Renter Occupied HU | 5,279 (39.2%) |
| Vacant Housing Units | 963 ( 7.2%) |
| Median Home Value | $172,789 |
| Average Home Value | $240,548 |
Housing Distribution
Address Breakdown
Residential
13,032
Single Family
11,652
Multi-Family
1,380
Businesses
1,157
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Listed by: Jennea Schirr • McKinnies Realty, LLC Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202529056
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.