947 Home AveFort WayneIN46807
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.67% yield at 947 Home Ave, Fort Wayne, IN, 46807 in Fort Wayne is solid, but the $697/mo payment compresses net cash flow to $189/mo at $155,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $42,824 by year five, and $1,428/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.61) without U.S. income documentation. Total projected return: $70,890.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 6.8% |
| Monthly Cash Flow | $189 | $420 |
City averages based on Fort Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,120 |
| Total Monthly Debt Service | $869 |
| DSCR Ratio | 1.29x |
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 1907
4,181 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46807, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,888 (100%) |
| Owner Occupied HU | 3,948 (57.3%) |
| Renter Occupied HU | 2,419 (35.1%) |
| Vacant Housing Units | 521 ( 7.6%) |
| Median Home Value | $189,648 |
| Average Home Value | $217,450 |
Housing Distribution
Address Breakdown
Residential
6,741
Single Family
6,404
Multi-Family
337
Businesses
242
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 1907
4,181 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46807, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,888 (100%) |
| Owner Occupied HU | 3,948 (57.3%) |
| Renter Occupied HU | 2,419 (35.1%) |
| Vacant Housing Units | 521 ( 7.6%) |
| Median Home Value | $189,648 |
| Average Home Value | $217,450 |
Housing Distribution
Address Breakdown
Residential
6,741
Single Family
6,404
Multi-Family
337
Businesses
242
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Preston Jaenichen • The Douglass Home Team, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202438543
Disclaimer: 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.