1240 Covington CtCrown PointIN46307
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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 Crown Point at 1240 Covington Ct, Crown Point, IN, 46307 offers $5,424/mo rent that, after a $3,139/mo payment, leaves $1,441/mo cash flow. Total monthly income is $5,424/mo, and annual cash flow is $17,290/yr on $210,988 cash. Return on cash invested measures 28.26% in year one, and rental yield stands at 10.15% at a $641,300 entry. Equity gained on principal adds $4,138/yr while 5% annual appreciation compounds into $177,179 by year five. Five-year ROI records 147.59% and total cumulative return in cash reaches $311,394. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $5,424/mo property income versus a $3,139/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1989
0.37 Acres lot
$N/A/sqft
$42 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46307, Crown Point, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 28,493 (100%) |
| Owner Occupied HU | 23,758 (83.4%) |
| Renter Occupied HU | 3,580 (12.6%) |
| Vacant Housing Units | 1,155 ( 4.1%) |
| Median Home Value | $328,229 |
| Average Home Value | $358,457 |
Housing Distribution
Address Breakdown
Residential
27,816
Single Family
25,807
Multi-Family
2,009
Businesses
1,450
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