108 W 5th St, Lapel, IN, 46051 | $208/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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108 W 5th St, Lapel, IN, 46051 | $208/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 Lapel at 108 W 5th St, Lapel, IN, 46051 earns $208/mo cash flow from $928/mo rent with a $587/mo payment. Total monthly income totals $928/mo, and annual cash flow totals $2,497/yr on $39,747 capital. ROI tracks 26.19% on current figures, and rental yield reads 9.29% at a $119,900 purchase. Equity gained on principal adds $774/yr, and 5% annual appreciation supports $33,126 over five years. Five-year ROI reaches 136.4% and total cumulative return in cash sums $54,216. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $928/mo property income instead of your personal income.

Single Family

Built in 1920

6,534 sqft lot

$N/A/sqft

No HOA

More details about the property

Great investment opportunity in the heart of Lapel! This 3-bedroom, 1-bath home offers solid exterior updates and tons of potential for the right buyer. Major improvements include a newer roof (2023), updated siding (2023), and a brand-new walk-in shower installed in 2024. A charming covered front porch adds to the curb appeal and provides a relaxing spot to enjoy this small-town setting. Inside, the home is ready for your vision and TLC to bring it back to life. The crawl space will require structural repairs, making this a perfect project for investors, flippers, or anyone looking to build equity with some renovation work. Located in the desirable Lapel community, this property puts you close to local schools, parks, and all the charm this hometown has to offer. With the big-ticket exterior items already done, this is your chance to transform this home into something truly special.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46051, Lapel, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,213 (100%)
Owner Occupied HU	900 (74.2%)
Renter Occupied HU	233 (19.2%)
Vacant Housing Units	80 ( 6.6%)
Median Home Value	$202,358
Average Home Value	$233,233