605 S Woodland AveMichigan CityIN46360
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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 Michigan City at 605 S Woodland Ave, Michigan City, IN, 46360 uses $69,284 cash to close to unlock $5,067/yr annual cash flow and $422/mo monthly cash flow. Total monthly income runs $1,772/mo, and a $1,023/mo payment keeps the spread at $422/mo. Purchase price stands at $209,000, and rental yield measures 10.17% with $1,772/mo rent. Return on cash invested shows 27.22% in year one, and 5% annual appreciation builds toward $57,743 over five years. Five-year ROI reaches 142.46% and total cumulative return in cash records $98,702. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,772/mo property income covering a $1,023/mo payment rather than investor’s personal income.
Single Family
Built in 1951
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46360, Michigan City, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,591 (100%) |
| Owner Occupied HU | 11,713 (54.2%) |
| Renter Occupied HU | 6,451 (29.9%) |
| Vacant Housing Units | 3,427 (15.9%) |
| Median Home Value | $182,550 |
| Average Home Value | $260,534 |
Housing Distribution
Address Breakdown
Residential
19,767
Single Family
17,144
Multi-Family
2,623
Businesses
1,421
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Listed by: Braedan Gallas • @properties/Christie's Intl RE
Mls Name: NIRA
Mls Provider:
Mls ID: #818415
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