1020 E State St, Albany, IN, 47320 | $309/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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1020 E State St, Albany, IN, 47320 | $309/mo Cash Flow | Ziffy

For Sale

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

Investment property for sale in Albany at 1020 E State St, Albany, IN, 47320 earns $309/mo cash flow from $2,314/mo rent with a $1,635/mo payment. Total monthly income totals $2,314/mo, and annual cash flow totals $3,706/yr on $110,721 capital. ROI tracks 23.26% on current figures, and rental yield reads 8.31% at a $334,000 purchase. Equity gained on principal adds $2,155/yr, and 5% annual appreciation supports $92,278 over five years. Five-year ROI reaches 120.55% and total cumulative return in cash sums $133,470. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,314/mo property income instead of your personal income.

Single Family

Built in 1880

8 Acres lot

$N/A/sqft

No HOA

More details about the property

This property was previously operated as "Abbott's Garlic & Poultry" which was a well known an organic farm to all of the local farm markets in Central Indiana. Everything is here, ready for a new owner to take over or turn this property into their own special small farm. Enter down the recently improved drive from E State st on to the property. Along the south boundary sits a well kept 30x40 pole barn with power. It is insulated with a concrete floor and has a room that was used as a walk in cooler. Between the home and the barn is all open ground ready to be tilled again for a new garden. The home on this property was originally built in the late 1800s but has been remodeled and seamlessly added on to over the years. There is +/- 2785 living sq ft with 3 bedrooms, 2 full bathrooms and additional bonus rooms. Behind the home sits an older but functional barn. This barn has an established chicken coop and horse stalls plus a finished room that was used to store eggs. There are water spigots connected to a well throughout the property located strategically with farming in mind. The home is connected to city water and sewer. The home and two barns all have their own electric meter. From the main home site on +/- 2 acres there is a lane approximately 20' wide that takes you north to an additional +/- 5.7 acres of open field and woods. This area was used for the owners main garlic production. This lot would be perfect for a pond or additional space for livestock or even a place to hunt! There is a lot of deer sign and while walking this area I located a wild turkey nest that had recently hatched.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47320, Albany, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,805 (100%)
Owner Occupied HU	1,321 (73.2%)
Renter Occupied HU	334 (18.5%)
Vacant Housing Units	150 ( 8.3%)
Median Home Value	$193,394
Average Home Value	$216,785