1015 W Gourley Pike, Bloomington, IN, 47404 | 6.06% Rental Yield

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1015 W Gourley Pike, Bloomington, IN, 47404 | 6.06% Rental Yield | Ziffy

For Sale

Rental Income

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Bloomington at 1015 W Gourley Pike, Bloomington, IN, 47404 generates $1,388/mo in rent, after a $1,346/mo payment. Total monthly income is $1,388/mo. Return on cash invested sits at 16.45% in year one, and rental yield is 6.06% on a $275,000 entry. Equity gained on principal adds $1,775/yr, while 5% annual appreciation builds toward $75,977 over five years. Five-year ROI reaches 84.1% and total cumulative return in cash sums $76,667. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,388/mo property income rather than buyer’s personal income.

Single Family

Built in 1935

0.78 Acres lot

$N/A/sqft

No HOA

More details about the property

Location! Location! Location! This exceptional 0.78-acre lot presents a prime opportunity for development or investment, strategically zoned for "Mixed Use" with a code of three family residential. The property currently features three existing dwellings, offering immediate rental income potential from one of them or a foundation for future renovations from your vision for the property. Its highly desirable location is a significant asset, situated just minutes from the bustling campus of Indiana University, ensuring a consistent demand for housing and commercial services. Furthermore, the property benefits from excellent visibility and accessibility, with a major highway clearly in sight, facilitating easy commutes and attracting commercial interest. This prominent location provides a distinct advantage for businesses seeking high traffic exposure and convenient access. The "Mixed Use" zoning designation offers a broad spectrum of possibilities, allowing for a combination of residential and commercial, subject to local regulations. A great piece of property for someone with a great vision! All measurements are approximate for only the dwelling at 2010 N Monroe St.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47404, Bloomington, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,508 (100%)
Owner Occupied HU	5,797 (50.4%)
Renter Occupied HU	4,856 (42.2%)
Vacant Housing Units	855 ( 7.4%)
Median Home Value	$291,166
Average Home Value	$319,856