422 W 3rd St

Mishawaka, IN 46544
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4 bd, 2 ba | 1,963 sqft | Built in 1895

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List Price
$116,900

Initial Investment

$32,560

Purchase Price

$110,000

Down Payment

25%

Rent

$1,285

Total Return

$64,154

Annualized Return

26.4%

Cap Rate

8.1%

Gross Yield

14.0%

Cash Flow

$2,199

Appreciation

8.6%
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Features

Occupancy

Occupied

Lease Start

07/01/2019

Lease End

06/30/2020

Property Type

Duplex

Lot Size

6,969

HOA

None

Flood Risk

Not Required

  • This property is located in a county that may require a water inspection at buyer’s expense
  • Attractive cap rate
  • Duplex with upper unit leased through 4/2021 and lower unit leased through 6/2020
  • 3-star neighborhood
  • Easy access to shopping and restaurants

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Annual Financial Highlights

Expected Rent

$14,649

Expenses

-$4,270

Property Taxes

-$2,200

Loan Payments

-$5,980

Net Cash Flow

$2,199

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