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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 719 W Franklin St, Elkhart, IN, 46516 priced at $121,000 converts $1,379/mo rent into $499/mo cash flow after a $592/mo obligation. Total monthly income equals $1,379/mo, and annual cash flow totals $5,987/yr on $40,112 invested. Return on cash invested prints 34.83% in year one, and rental yield reads 13.68% against a $121,000 entry. Equity gained on principal adds $781/yr, while 5% annual appreciation compiles into $33,430 by year five. Five-year ROI reaches 184.28% and total cumulative return in cash sums $73,917. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,379/mo property income covering a $592/mo payment, not borrower’s personal income.
Multi Family
Built in 1900
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 46516, Elkhart, IN area.
| 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 |
Residential
13,032
Single Family
11,652
Multi-Family
1,380
Businesses
1,157
Date | Event | Price |
|---|---|---|
| 2025-09-05 | Sold | $121,000 |
| 2025-08-11 | Pending sale | $119,900 |
| 2025-06-23 | Price change | $119,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-15 | $2852.52 | 149.51% | $149,900 | 6.39% |
| 2023-10-15 | $1143.26 | 88.56% | $140,900 | 149.82% |
| 2022-10-15 | $606.32 | -6.09% | $56,400 | 88.63% |
Listed by: Jennea Schirr • McKinnies Realty, LLC Elkhart
Mls Name: IRMLS
Mls Provider:
Mls ID: #202521321
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.
