7609 Preakness CvFort WayneIN46815
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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
Investment property for sale in Fort Wayne at 7609 Preakness Cv, Fort Wayne, IN, 46815 offers a 9.13% rental yield on a $221,900 purchase with $1,688/mo rent. Total monthly income registers $1,688/mo, and a $1,086/mo payment leaves $214/mo available for distribution. Annual cash flow reaches $2,573/yr on $73,560 to close, and return on cash invested stands at 23.41% in year one. Equity gained on principal adds $1,432/yr while 5% annual appreciation supports $61,307 over five years. Portfolio math shows five-year ROI at 122.23% and total cumulative return in cash at $89,912. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,688/mo property income against a $1,086/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1987
6,969 sqft lot
$N/A/sqft
$425 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46815, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,645 (100%) |
| Owner Occupied HU | 8,234 (70.7%) |
| Renter Occupied HU | 2,962 (25.4%) |
| Vacant Housing Units | 449 ( 3.9%) |
| Median Home Value | $218,361 |
| Average Home Value | $241,192 |
Housing Distribution
Address Breakdown
Residential
11,248
Single Family
10,821
Multi-Family
427
Businesses
491
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Listed by: Justin T Herber • Coldwell Banker Real Estate Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202518739
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.