607 W Wayne StSouth BendIN46601
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 607 W Wayne St, South Bend, IN, 46601 in South Bend hard to pass up. The 16.59% gross yield on a $125,000 purchase results in $1,728/mo in rent and $897/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (3.07). Annual cash flow of $10,762, five-year appreciation of $34,535, and $1,151/yr in equity build-up combine for a projected total cumulative return of $105,379.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 16.6% | 5.8% |
| Monthly Cash Flow | $897 | $850 |
City averages based on South Bend market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,728 |
| Total Monthly Debt Service | $781 |
| DSCR Ratio | 2.21x |
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 1900
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46601, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,926 (100%) |
| Owner Occupied HU | 518 (17.7%) |
| Renter Occupied HU | 1,844 (63.0%) |
| Vacant Housing Units | 564 (19.3%) |
| Median Home Value | $156,964 |
| Average Home Value | $180,471 |
Housing Distribution
Address Breakdown
Residential
2,428
Single Family
1,533
Multi-Family
895
Businesses
597
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 1900
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46601, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,926 (100%) |
| Owner Occupied HU | 518 (17.7%) |
| Renter Occupied HU | 1,844 (63.0%) |
| Vacant Housing Units | 564 (19.3%) |
| Median Home Value | $156,964 |
| Average Home Value | $180,471 |
Housing Distribution
Address Breakdown
Residential
2,428
Single Family
1,533
Multi-Family
895
Businesses
597
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Valerie Swihart • Pyramid Realty LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202439373
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.