623 Esther StMichigan 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
Rental property for sale in Michigan City at 623 Esther St, Michigan City, IN, 46360 priced at $265,000 converts $1,926/mo rent into $335/mo cash flow after a $1,297/mo obligation. Total monthly income equals $1,926/mo, and annual cash flow totals $4,023/yr on $87,848 invested. Return on cash invested prints 24.49% in year one, and rental yield reads 8.72% against a $265,000 entry. Equity gained on principal adds $1,710/yr, while 5% annual appreciation compiles into $73,215 by year five. Five-year ROI reaches 127.18% and total cumulative return in cash sums $111,723. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,926/mo property income covering a $1,297/mo payment, not borrower’s personal income.
Single Family
Built in 1961
5,880 sqft 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: Jordin Agemy • Century 21 Circle
Mls Name: NIRA
Mls ID: #825417