706 Hobart StMichigan CityIN46360
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 706 Hobart St, Michigan City, IN, 46360 in Michigan City at $127,500 earns $961/mo in rent and nets $196/mo after the $573/mo payment, a 9.04% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $35,226 over five years. Ziffy Mortgage underwrites this on a 1.68 DSCR without U.S. credit history. With $1,174/yr in principal paydown, total projected return reaches $60,864.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 7.5% |
| Monthly Cash Flow | $196 | $150 |
City averages based on Michigan City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $961 |
| Total Monthly Debt Service | $715 |
| DSCR Ratio | 1.34x |
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 1952
5,806 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 1952
5,806 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: Kurtess Gillespie • Coldwell Banker Real Estate Gr
Mls Name: NIRA
Mls ID: #828058