831 W 38th PlHobartIN46342
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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 Hobart at 831 W 38th Pl, Hobart, IN, 46342 offers a 11.54% rental yield on a $214,000 purchase with $2,058/mo rent. Total monthly income registers $2,058/mo, and a $1,047/mo payment leaves $774/mo available for distribution. Annual cash flow reaches $9,286/yr on $70,941 to close, and return on cash invested stands at 33% in year one. Equity gained on principal adds $1,381/yr while 5% annual appreciation supports $59,124 over five years. Portfolio math shows five-year ROI at 172.81% and total cumulative return in cash at $122,591. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,058/mo property income against a $1,047/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1949
8,842 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46342, Hobart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,699 (100%) |
| Owner Occupied HU | 9,996 (73.0%) |
| Renter Occupied HU | 2,806 (20.5%) |
| Vacant Housing Units | 897 ( 6.5%) |
| Median Home Value | $231,713 |
| Average Home Value | $262,010 |
Housing Distribution
Address Breakdown
Residential
13,166
Single Family
11,782
Multi-Family
1,384
Businesses
705
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Listed by: James Gore • Listing Leaders
Mls Name: NIRA
Mls Provider:
Mls ID: #808516
Disclaimer: Copyright 2024 MuItiple Listing Service of the Northwest Indiana REALTORS Association, Inc. All rights reserved. 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.