6550 Miller AveGaryIN46403
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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
Investment property for sale in Gary at 6550 Miller Ave, Gary, IN, 46403 earns $131/mo cash flow from $1,211/mo rent with a $881/mo payment. Total monthly income totals $1,211/mo, and annual cash flow totals $1,567/yr on $59,637 capital. ROI tracks 22.54% on current figures, and rental yield reads 8.08% at a $179,900 purchase. Equity gained on principal adds $1,161/yr, and 5% annual appreciation supports $49,703 over five years. Five-year ROI reaches 116.72% and total cumulative return in cash sums $69,609. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,211/mo property income instead of your personal income.
Single Family
Built in 1942
5,749 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46403, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,395 (100%) |
| Owner Occupied HU | 2,740 (42.8%) |
| Renter Occupied HU | 2,443 (38.2%) |
| Vacant Housing Units | 1,212 (19.0%) |
| Median Home Value | $169,037 |
| Average Home Value | $237,071 |
Housing Distribution
Address Breakdown
Residential
5,555
Single Family
5,028
Multi-Family
527
Businesses
250
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Listed by: Jennifer Parham • Lighthouse Realty, LLC
Mls Name: NIRA
Mls Provider:
Mls ID: #819300
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.