618 Thomas StElkhartIN46516
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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
Rental property for sale in Elkhart at 618 Thomas St, Elkhart, IN, 46516 priced at $109,900 converts $829/mo rent into $95/mo cash flow after a $538/mo obligation. Total monthly income equals $829/mo, and annual cash flow totals $1,135/yr on $36,432 invested. Return on cash invested prints 23.02% in year one, and rental yield reads 9.05% against a $109,900 entry. Equity gained on principal adds $709/yr, while 5% annual appreciation compiles into $30,363 by year five. Five-year ROI reaches 120.24% and total cumulative return in cash sums $43,804. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $829/mo property income covering a $538/mo payment, not borrower’s personal income.
Single Family
Built in 1885
3,920 sqft 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: Linda Konrath • SUNRISE Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202519968
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.