1103 N Locust StreetSalemIN47167
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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
Investment Highlights
Investment property for sale in Salem at 1103 N Locust Street, Salem, IN, 47167 offers a 11.82% rental yield on a $139,500 purchase with $1,374/mo rent. Total monthly income registers $1,374/mo, and a $683/mo payment leaves $536/mo available for distribution. Annual cash flow reaches $6,437/yr on $46,244 to close, and return on cash invested stands at 33.83% in year one. Equity gained on principal adds $900/yr while 5% annual appreciation supports $38,541 over five years. Portfolio math shows five-year ROI at 177.3% and total cumulative return in cash at $81,993. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,374/mo property income against a $683/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1948
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47167, Salem, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,825 (100%) |
| Owner Occupied HU | 4,832 (70.8%) |
| Renter Occupied HU | 1,431 (21.0%) |
| Vacant Housing Units | 562 ( 8.2%) |
| Median Home Value | $184,381 |
| Average Home Value | $231,011 |
Housing Distribution
Address Breakdown
Residential
6,703
Single Family
6,562
Multi-Family
141
Businesses
505
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Listed by: Lori J. Gilstrap • The Day Company REALTORS
Mls Name: SIRA
Mls Provider:
Mls ID: #2024011543
Disclaimer: IDX information is provided exclusively for consumers personal, noncommercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing data is deemed reliable but is not guaranteed accurate by the SIRA MLS.