711 McKinley StGaryIN46404
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
Investment Highlights
Investment property for sale in Gary at 711 McKinley St, Gary, IN, 46404 listed at $238,400 pairs $2,311/mo rent with a $1,167/mo payment to leave $880/mo cash flow. Total monthly income runs $2,311/mo, and annual cash flow reaches $10,557/yr on $79,030 cash to close. Return on cash invested measures 33.27% in year one, and rental yield registers 11.63% at a $238,400 basis. Equity gained on principal adds $1,538/yr, and annual property appreciation at 5% supports $65,866 by year five. Five-year ROI tracks 174.24% and total cumulative return in cash totals $137,704. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,311/mo property income relative to a $1,167/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1941
6,229 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46404, Gary, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,655 (100%) |
| Owner Occupied HU | 3,453 (45.1%) |
| Renter Occupied HU | 2,951 (38.5%) |
| Vacant Housing Units | 1,251 (16.3%) |
| Median Home Value | $103,793 |
| Average Home Value | $179,305 |
Housing Distribution
Address Breakdown
Residential
6,554
Single Family
5,900
Multi-Family
654
Businesses
242
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Steven Monsma • Weichert Realtors - Shoreline
Mls Name: NIRA
Mls Provider:
Mls ID: #811992
Disclaimer: Copyright 2024 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.