708 James StElkhartIN46516
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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
Rental property for sale in Elkhart at 708 James St, Elkhart, IN, 46516 offers $1,428/mo rent that, after a $722/mo payment, leaves $543/mo cash flow. Total monthly income is $1,428/mo, and annual cash flow is $6,510/yr on $48,896 cash. Return on cash invested measures 33.22% in year one, and rental yield stands at 11.62% at a $147,500 entry. Equity gained on principal adds $952/yr while 5% annual appreciation compounds into $40,752 by year five. Five-year ROI records 174.05% and total cumulative return in cash reaches $85,105. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,428/mo property income versus a $722/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1932
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46516, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,463 (100%) |
| Owner Occupied HU | 7,221 (53.6%) |
| Renter Occupied HU | 5,279 (39.2%) |
| Vacant Housing Units | 963 ( 7.2%) |
| Median Home Value | $172,789 |
| Average Home Value | $240,548 |
Housing Distribution
Address Breakdown
Residential
13,032
Single Family
11,652
Multi-Family
1,380
Businesses
1,157
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Listed by: Alison M Romero • RE/MAX Results-Goshen
Mls Name: IRMLS
Mls Provider:
Mls ID: #202427147
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.