904 N Wayne StNorth ManchesterIN46962
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 904 N Wayne St, North Manchester, IN, 46962 in North Manchester speaks for itself: 12.1% gross on a $125,000 price, generating $1,260/mo in rent and $510/mo in net income after the $593/mo debt service. DSCR 2.12, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,116 stacks alongside $34,535 in projected five-year appreciation and $1,048/yr in principal reduction. Projected total cumulative return: $77,749.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.1% | 7.0% |
| Monthly Cash Flow | $510 | $1,200 |
City averages based on North Manchester market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $1,260 |
| Total Monthly Debt Service | $731 |
| DSCR Ratio | 1.72x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1930
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46962, North Manchester, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,818 (100%) |
| Owner Occupied HU | 2,537 (66.4%) |
| Renter Occupied HU | 941 (24.6%) |
| Vacant Housing Units | 340 ( 8.9%) |
| Median Home Value | $169,696 |
| Average Home Value | $234,758 |
Housing Distribution
Address Breakdown
Residential
3,480
Single Family
3,416
Multi-Family
64
Businesses
281
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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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Carrie Vineyard • RE/MAX Results
Mls Name: IRMLS
Mls Provider:
Mls ID: #202618879
