10719 E State Road 38, Sheridan, IN, 46069 | $131/mo Cash Flow

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10719 E State Road 38, Sheridan, IN, 46069 | $131/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 Sheridan at 10719 E State Road 38, Sheridan, IN, 46069 offers a 7.7% rental yield on a $319,000 purchase with $2,046/mo rent. Total monthly income registers $2,046/mo, and a $1,561/mo payment leaves $131/mo available for distribution. Annual cash flow reaches $1,577/yr on $105,749 to close, and return on cash invested stands at 21.4% in year one. Equity gained on principal adds $2,058/yr while 5% annual appreciation supports $88,134 over five years. Portfolio math shows five-year ROI at 110.62% and total cumulative return in cash at $116,977. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,046/mo property income against a $1,561/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1902

1.28 Acres lot

$N/A/sqft

No HOA

More details about the property

Step back in time with this lovingly maintained 1902 farmhouse, on the market for the first time in 123 years! Located on 1.28 acres in Sheridan (Boone Country), this 3 bed, 1 bath, 2,534 sq ft home has been in the same family since it was built. The current owners have lived here for 57 years, and it shows in the care and attention to detail throughout. The home features stunning original wood trim and solid wood windows (with storm windows) that have been preserved in amazing condition. The family room was completely rebuilt in 2019-new floors, walls, insulation, roof, wiring, and windows-after a storm brought a tree down. It includes a cozy wood-burning fireplace and an office off the family room that is already plumbed and ready to become a 2nd bathroom. Updates include: furnace (2018), dishwasher, oven, microwave, and water softener (all less than 1 year old), and a brand-new well pump in 2024. Septic is routinely pumped and well has been recently checked. Relax on the front and back porches, or enjoy the privacy of rural living on over an acre surrounded by corn and soybean fields. A small barn with a wood stove provides great storage or workshop space-plus, one mower and an adorable orange barn cat with kittens can stay! Property also includes mature trees and a persimmon tree. Less than 25 minutes to Lebanon, Westfield, Carmel, and Zionsville, and under an hour to Indianapolis or Lafayette. This is a rare opportunity to own a well-cared-for historic home in a safe, friendly rural community-perfect for a small homestead or peaceful country living with all the convenience nearby.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46069, Sheridan, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,097 (100%)
Owner Occupied HU	2,947 (71.9%)
Renter Occupied HU	779 (19.0%)
Vacant Housing Units	371 ( 9.1%)
Median Home Value	$410,956
Average Home Value	$436,318