806 S 23rd StSouth BendIN46615
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 806 S 23rd St, South Bend, IN, 46615 in South Bend deserves attention. This $139,900 property earns $1,416/mo in rent, a 12.15% gross yield, and nets $576/mo after the $629/mo payment. DSCR 2.25 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $38,652 compounds alongside $1,288/yr in yearly equity build, for a total cumulative return of $90,028.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.2% | 5.8% |
| Monthly Cash Flow | $576 | $850 |
City averages based on South Bend market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,416 |
| Total Monthly Debt Service | $784 |
| DSCR Ratio | 1.81x |
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.
Single Family
Built in 1900
5,227 sqft lot
$N/A/sqft
No HOA
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
Single Family
Built in 1900
5,227 sqft lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brian Barnard • Cressy & Everett- Elkhart
Mls Name: IRMLS
Mls ID: #202601979