983 Bingham PassFort WayneIN46845
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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 Fort Wayne at 983 Bingham Pass, Fort Wayne, IN, 46845 generates $2,387/mo in rent and, after a $1,867/mo payment, leaves $97/mo in cash flow. Total monthly income is $2,387/mo, and annual cash flow is $1,166/yr on $126,467 invested. Return on cash invested sits at 20.83% in year one, and rental yield is 7.51% on a $381,500 entry. Equity gained on principal adds $2,462/yr, while 5% annual appreciation builds toward $105,401 over five years. Five-year ROI reaches 107.58% and total cumulative return in cash sums $136,048. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,387/mo property income rather than buyer’s personal income.
Single Family
Built in 2023
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46845, Fort Wayne, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,048 (100%) |
| Owner Occupied HU | 9,968 (82.7%) |
| Renter Occupied HU | 1,630 (13.5%) |
| Vacant Housing Units | 450 ( 3.7%) |
| Median Home Value | $335,610 |
| Average Home Value | $360,690 |
Housing Distribution
Address Breakdown
Residential
11,995
Single Family
11,159
Multi-Family
836
Businesses
222
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Listed by: Michael Kirchberg • Uptown Realty Group
Mls Name: IRMLS
Mls ID: #202529001