839 & 841 W Colfax Ave #2South BendIN46601
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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 South Bend at 839 & 841 W Colfax Ave #2, South Bend, IN, 46601 offers a 14.41% rental yield on a $249,900 purchase with $3,000/mo rent. Total monthly income registers $3,000/mo, and a $1,223/mo payment leaves $1,500/mo available for distribution. Annual cash flow reaches $18,000/yr on $82,842 to close, and return on cash invested stands at 41.64% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,043 over five years. Portfolio math shows five-year ROI at 219.18% and total cumulative return in cash at $181,574. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,000/mo property income against a $1,223/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1912
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46601, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,926 (100%) |
| Owner Occupied HU | 518 (17.7%) |
| Renter Occupied HU | 1,844 (63.0%) |
| Vacant Housing Units | 564 (19.3%) |
| Median Home Value | $156,964 |
| Average Home Value | $180,471 |
Housing Distribution
Address Breakdown
Residential
2,428
Single Family
1,533
Multi-Family
895
Businesses
597
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Listed by: Larry Nickell • Woodlands & Waters Real Estate, INC.
Mls Name: IRMLS
Mls ID: #202530485