7609 Preakness CvFort WayneIN46815
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeNot flashy, but dependably profitable, 7609 Preakness Cv, Fort Wayne, IN, 46815 in Fort Wayne is listed at $221,900 and delivers $1,688/mo in rent and $215/mo in net monthly cash flow. The 9.13% yield and 1.69 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $61,307 over five years, and $2,044/yr in principal reduction supplements cash return. Total projected cumulative return: $98,390.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 6.8% |
| Monthly Cash Flow | $215 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,688 |
| Total Monthly Debt Service | $1,385 |
| DSCR Ratio | 1.22x |
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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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.