13220 Iris Drive, Memphis, IN, 47143 | $1,087/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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13220 Iris Drive, Memphis, IN, 47143 | $1,087/mo Cash Flow | 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

Investment property for sale in Memphis at 13220 Iris Drive, Memphis, IN, 47143 listed at $349,900 pairs $3,188/mo rent with a $1,713/mo payment to leave $1,087/mo cash flow. Total monthly income runs $3,188/mo, and annual cash flow reaches $13,046/yr on $115,992 cash to close. Return on cash invested measures 31.16% in year one, and rental yield registers 10.93% at a $349,900 basis. Equity gained on principal adds $2,258/yr, and annual property appreciation at 5% supports $96,671 by year five. Five-year ROI tracks 162.95% and total cumulative return in cash totals $189,006. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,188/mo property income relative to a $1,713/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1974

0.80 Acres lot

$N/A/sqft

No HOA

More details about the property

Prepare to fall head over heels for this amazing home! Despite its country-like feel, it's only a quick drive from the interstate. This charming house sits on a beautiful lot, providing plenty of space for tranquility and a peaceful and rural ambiance. Inside, there are 4 cozy bedrooms and 2.5 bathrooms to accommodate you and your loved ones. As soon as you walk in through the front door, beautiful flooring greets you in the living room, while a cozy family room with a fireplace beckons for chilly nights. The kitchen boasts modern appliances and a trendy backsplash, and the dining area is welcoming and inviting. For added convenience, the master bedroom has its own attached bathroom. Upstairs, the fourth bedroom can be converted into an extra dining space or an office, depending on your preference. On the lower level, the finished basement offers even more living space with another fireplace to keep you warm during the colder months. It also includes a large laundry room with a washer and dryer, as well as an optional room that could be used as an office or additional bedroom. Outside, relax in the tranquility of a fenced-in yard or tend to your very own chickens in the chicken coop. Additionally, there is a pole barn and a two-car garage for all your storage needs. This home has all the necessary amenities and is conveniently located for easy access to everything you need in just minutes from the interstate! Schedule your showing Today while it's still available!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47143, Memphis, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,619 (100%)
Owner Occupied HU	1,408 (87.0%)
Renter Occupied HU	171 (10.6%)
Vacant Housing Units	40 ( 2.5%)
Median Home Value	$266,563
Average Home Value	$290,305