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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Elkhart at 704 Bower St, Elkhart, IN, 46514 generates $1,354/mo in rent and, after a $881/mo payment, leaves $274/mo in cash flow. Total monthly income is $1,354/mo, and annual cash flow is $3,282/yr on $59,670 invested. Return on cash invested sits at 25.41% in year one, and rental yield is 9.03% on a $180,000 entry. Equity gained on principal adds $1,162/yr, while 5% annual appreciation builds toward $49,731 over five years. Five-year ROI reaches 132.11% and total cumulative return in cash sums $78,833. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,354/mo property income rather than buyer’s personal income.
Multi Family
Built in 1930
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 46514, Elkhart, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,284 (100%) |
| Owner Occupied HU | 11,774 (64.4%) |
| Renter Occupied HU | 5,434 (29.7%) |
| Vacant Housing Units | 1,076 ( 5.9%) |
| Median Home Value | $219,702 |
| Average Home Value | $252,263 |
Residential
17,694
Single Family
16,264
Multi-Family
1,430
Businesses
1,341
Date | Event | Price |
|---|---|---|
| 2025-07-18 | Sold | $180,000 |
| 2025-06-17 | Listed for sale | $180,000 |
| 2012-01-26 | Sold | $59,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
Listed by: Kavita M Patel • McKinnies Realty, LLC Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202523053
Disclaimer: 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.
