59641 Lee AveElkhartIN46517
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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 59641 Lee Ave, Elkhart, IN, 46517 offers a 11.03% rental yield on a $189,999 purchase with $1,747/mo rent. Total monthly income registers $1,747/mo, and a $930/mo payment leaves $606/mo available for distribution. Annual cash flow reaches $7,277/yr on $62,985 to close, and return on cash invested stands at 31.46% in year one. Equity gained on principal adds $1,226/yr while 5% annual appreciation supports $52,493 over five years. Portfolio math shows five-year ROI at 164.59% and total cumulative return in cash at $103,668. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,747/mo property income against a $930/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1961
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46517, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,200 (100%) |
| Owner Occupied HU | 5,614 (61.0%) |
| Renter Occupied HU | 3,089 (33.6%) |
| Vacant Housing Units | 497 ( 5.4%) |
| Median Home Value | $214,555 |
| Average Home Value | $266,234 |
Housing Distribution
Address Breakdown
Residential
9,030
Single Family
7,959
Multi-Family
1,071
Businesses
580
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