623 Pine StMichigan CityIN46360
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 623 Pine St, Michigan City, IN, 46360 in Michigan City speaks for itself: 13.19% gross on a $425,000 price, generating $4,673/mo in rent and $2,122/mo in net income after the $1,911/mo debt service. DSCR 2.45, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $25,459 stacks alongside $117,420 in projected five-year appreciation and $3,914/yr in principal reduction. Projected total cumulative return: $297,347.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.2% | 7.5% |
| Monthly Cash Flow | $2,122 | $150 |
City averages based on Michigan City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,673 |
| Total Monthly Debt Service | $2,382 |
| DSCR Ratio | 1.96x |
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.
Single Family
Built in 1904
5,127 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
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
Single Family
Built in 1904
5,127 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Pat Mathews-Janasiak • Blackrock Real Estate Services
Mls Name: NIRA
Mls Provider:
Mls ID: #823744
Disclaimer: Copyright 2025 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.