11 Water StUnion MillsIN46382
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 11 Water St, Union Mills, IN, 46382 in Union Mills: $2,651/mo in rent, $1,630/mo net, 18.71% gross yield, all on a $170,000 acquisition. The 3.47 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $46,968 in value, and $1,566/yr in principal paydown steadily builds equity. Projected total cumulative return: $169,296.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 18.7% | 6.0% |
| Monthly Cash Flow | $1,630 | $300 |
City averages based on Union Mills market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,651 |
| Total Monthly Debt Service | $953 |
| DSCR Ratio | 2.78x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1872
1.05 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46382, Union Mills, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 835 (100%) |
| Owner Occupied HU | 717 (85.9%) |
| Renter Occupied HU | 93 (11.1%) |
| Vacant Housing Units | 25 ( 3.0%) |
| Median Home Value | $284,633 |
| Average Home Value | $328,867 |
Housing Distribution
Address Breakdown
Residential
751
Single Family
751
Multi-Family
0
Businesses
24
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1872
1.05 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46382, Union Mills, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 835 (100%) |
| Owner Occupied HU | 717 (85.9%) |
| Renter Occupied HU | 93 (11.1%) |
| Vacant Housing Units | 25 ( 3.0%) |
| Median Home Value | $284,633 |
| Average Home Value | $328,867 |
Housing Distribution
Address Breakdown
Residential
751
Single Family
751
Multi-Family
0
Businesses
24
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jason Wampler • RE/MAX 1ST CHOICE REALTORS
Mls Name: IRMLS
Mls Provider:
Mls ID: #202426546
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.