112 N Madison StConverseIN46919
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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
Rental property for sale in Converse at 112 N Madison St, Converse, IN, 46919 priced at $178,500 converts $1,645/mo rent into $573/mo cash flow after a $874/mo obligation. Total monthly income equals $1,645/mo, and annual cash flow totals $6,878/yr on $59,173 invested. Return on cash invested prints 31.53% in year one, and rental yield reads 11.06% against a $178,500 entry. Equity gained on principal adds $1,152/yr, while 5% annual appreciation compiles into $49,316 by year five. Five-year ROI reaches 165.02% and total cumulative return in cash sums $97,646. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,645/mo property income covering a $874/mo payment, not borrower’s personal income.
Single Family
Built in 1900
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46919, Converse, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 961 (100%) |
| Owner Occupied HU | 676 (70.3%) |
| Renter Occupied HU | 185 (19.3%) |
| Vacant Housing Units | 100 (10.4%) |
| Median Home Value | $196,330 |
| Average Home Value | $273,295 |
Housing Distribution
Address Breakdown
Residential
577
Single Family
531
Multi-Family
46
Businesses
42
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Listed by: Janet M Barnett • RE/MAX Realty One
Mls Name: IRMLS
Mls Provider:
Mls ID: #202515963
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.