6620 W Canal Pointe Ln, Fort Wayne, IN, 46804 | $415/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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6620 W Canal Pointe Ln, Fort Wayne, IN, 46804 | $415/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Fort Wayne at 6620 W Canal Pointe Ln, Fort Wayne, IN, 46804 offers a 8.92% rental yield on a $289,900 purchase with $2,155/mo rent. Total monthly income registers $2,155/mo, and a $1,419/mo payment leaves $415/mo available for distribution. Annual cash flow reaches $4,976/yr on $96,102 to close, and return on cash invested stands at 25.09% in year one. Equity gained on principal adds $1,871/yr while 5% annual appreciation supports $80,094 over five years. Portfolio math shows five-year ROI at 130.36% and total cumulative return in cash at $125,277. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,155/mo property income against a $1,419/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1985

7,840 sqft lot

$N/A/sqft

No HOA

More details about the property

Custom-designed villa on the water located in the Hamlets of Woodland Ridge! This treasure, built in 1985, is positioned for privacy on both sides. Extra land on each side provides calming nature views and wonderful seclusion, while the pond offers scenic views throughout the day, allowing you to enjoy nature and the sparkling water. The deck is easily accessible and spacious enough for seating, making it perfect for chatting with friends. The open floor plan seamlessly connects the kitchen, dining area, and the vaulted great room, which features a fireplace. The patio leads to a heated morning room. There are two bedrooms down the hall that are conveniently connected to the bathrooms, both offering generous closet space. Upon entering, immediately to the left is a den or office that can serve as a third bedroom, featuring brand new flooring. Additionally, there is a small office set up in the laundry closet. Please note that the skylight is currently undergoing repairs. Association pool & tennis.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46804, Fort Wayne, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	13,704 (100%)
Owner Occupied HU	8,866 (64.7%)
Renter Occupied HU	4,275 (31.2%)
Vacant Housing Units	563 ( 4.1%)
Median Home Value	$272,764
Average Home Value	$304,067