113 W Spring Meadow Circle, Salem, IN, 47167 | 5.15% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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113 W Spring Meadow Circle, Salem, IN, 47167 | 5.15% Rental Yield | 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

Rental property for sale in Salem at 113 W Spring Meadow Circle, Salem, IN, 47167 priced at $650,000 converts $2,789/mo rent into after a $3,181/mo obligation. Total monthly income equals $2,789/mo. Return on cash invested prints 13.82% in year one, and rental yield reads 5.15% against a $650,000 entry. Equity gained on principal adds $4,194/yr, while 5% annual appreciation compiles into $179,583 by year five. Five-year ROI reaches 69.9% and total cumulative return in cash sums $149,486. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,789/mo property income covering a $3,181/mo payment, not borrower’s personal income.

Single Family

Built in 2020

1.38 Acres lot

$N/A/sqft

No HOA

More details about the property

YOUR DREAM HAS COME TRUE!!! Custom built stunner has been constructed to include beauty & function. With 4000 finished square feet, this home has so much to offer with versatility & style. This kitchen has all the ingredients to make any chef happy. This breathtaking space features beautiful quartz counters, abundance of custom cabinetry, immense island, classy backsplash & stainless appliances. Surrounding the timeless kitchen, a great room offers vaulted ceilings, natural light & gas fireplace accented with lovely tile. The owners suite boasts tray ceiling & inviting barn door opening into a mesmerizing en suite. Massive tile shower with multiple shower heads, double sinks & soaking tub make this bath a true oasis. Finished lower level creates the perfect entertaining space. Wet bar/2nd kitchen has granite counters, floating shelves, tv mount & tile backsplash. The bar area opens to a sitting area with wall display & large tv viewing area. Lower level also features a bedroom, full bath, office, home gym & flex room currently used for gaming. This is your private staycation!! Heated, saltwater pool with sprawling deck surrounded by black metal fencing. Rear deck area offers a birds eye view of all the fun. Hobbiests will appreciate the attached 4 car garage for all of your toys and tools. Property is overflowing with upscale finishes and premium amenities. All nestled on a 1.38 acre lot located just west of historic Salem, IN!! See agent remarks for additional.

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