623 Prospect AveFort WayneIN46805
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 623 Prospect Ave, Fort Wayne, IN, 46805 in Fort Wayne deserves attention. This $178,500 property earns $1,918/mo in rent, a 12.89% gross yield, and nets $846/mo after the $803/mo payment. DSCR 2.39 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $49,316 compounds alongside $1,644/yr in yearly equity build, for a total cumulative return of $122,047.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.9% | 6.8% |
| Monthly Cash Flow | $846 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,918 |
| Total Monthly Debt Service | $1,000 |
| DSCR Ratio | 1.92x |
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 1960
7,230 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
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 1960
7,230 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46805, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,466 (100%) |
| Owner Occupied HU | 5,323 (50.9%) |
| Renter Occupied HU | 4,366 (41.7%) |
| Vacant Housing Units | 777 ( 7.4%) |
| Median Home Value | $167,941 |
| Average Home Value | $208,915 |
Housing Distribution
Address Breakdown
Residential
9,583
Single Family
8,813
Multi-Family
770
Businesses
895
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Randy Harvey • Coldwell Banker Real Estate Gr
Mls Name: IRMLS
Mls ID: #202538546