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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Covington at 114 Red Oak Ln, Covington, IN, 47932 priced at $315,000 converts $660/mo rent into after a $1,542/mo obligation. Total monthly income equals $660/mo. Return on cash invested prints 5.76% in year one, and rental yield reads 2.51% against a $315,000 entry. Equity gained on principal adds $2,033/yr, while 5% annual appreciation compiles into $87,029 by year five. Five-year ROI reaches 26.72% and total cumulative return in cash sums $27,905. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $660/mo property income covering a $1,542/mo payment, not borrower’s personal income.
Single Family
Built in 2024
2.53 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,793 (73.5%) |
| Renter Occupied HU | 480 (19.7%) |
| Vacant Housing Units | 168 ( 6.9%) |
| Median Home Value | $176,518 |
| Average Home Value | $198,095 |
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
Date | Event | Price |
|---|---|---|
| No price history data available | ||
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
Listed by: Lindsey Salts • Dream Home Realty Group, LLC
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22035985
