602 Lavina StFort WayneIN46802
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 602 Lavina St, Fort Wayne, IN, 46802 in Fort Wayne worth modelling. At $319,900 with a 7.28% gross yield, the $1,940/mo rent leaves $20/mo after the $1,438/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.35 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $88,382 by year five; $2,946/yr in principal reduction adds further equity. Total projected return: $122,363.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 6.8% |
| Monthly Cash Flow | $20 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,940 |
| Total Monthly Debt Service | $1,793 |
| DSCR Ratio | 1.08x |
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 1959
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46802, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,718 (100%) |
| Owner Occupied HU | 1,514 (26.5%) |
| Renter Occupied HU | 3,373 (59.0%) |
| Vacant Housing Units | 831 (14.5%) |
| Median Home Value | $178,409 |
| Average Home Value | $232,751 |
Housing Distribution
Address Breakdown
Residential
5,036
Single Family
3,762
Multi-Family
1,274
Businesses
984
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 1959
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46802, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,718 (100%) |
| Owner Occupied HU | 1,514 (26.5%) |
| Renter Occupied HU | 3,373 (59.0%) |
| Vacant Housing Units | 831 (14.5%) |
| Median Home Value | $178,409 |
| Average Home Value | $232,751 |
Housing Distribution
Address Breakdown
Residential
5,036
Single Family
3,762
Multi-Family
1,274
Businesses
984
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jordan Wildman • eXp Realty, LLC
Mls Name: IRMLS
Mls ID: #202527038