824 Park AveSouth BendIN46616
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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
Rental property for sale in South Bend at 824 Park Ave, South Bend, IN, 46616 offers $2,885/mo rent that, after a $1,713/mo payment, leaves $784/mo cash flow. Total monthly income is $2,885/mo, and annual cash flow is $9,409/yr on $116,025 cash. Return on cash invested measures 28.02% in year one, and rental yield stands at 9.89% at a $350,000 entry. Equity gained on principal adds $2,258/yr while 5% annual appreciation compounds into $96,699 by year five. Five-year ROI records 146.12% and total cumulative return in cash reaches $169,538. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,885/mo property income versus a $1,713/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1892
9,950 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46616, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,887 (100%) |
| Owner Occupied HU | 1,445 (50.1%) |
| Renter Occupied HU | 1,103 (38.2%) |
| Vacant Housing Units | 339 (11.7%) |
| Median Home Value | $164,220 |
| Average Home Value | $197,168 |
Housing Distribution
Address Breakdown
Residential
2,531
Single Family
2,351
Multi-Family
180
Businesses
63
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