1515 Franklin St, Lafayette, IN, 47905 | $290/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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1515 Franklin St, Lafayette, IN, 47905 | $290/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 Lafayette at 1515 Franklin St, Lafayette, IN, 47905 earns $290/mo cash flow from $1,221/mo rent with a $759/mo payment. Total monthly income totals $1,221/mo, and annual cash flow totals $3,483/yr on $51,383 capital. ROI tracks 26.69% on current figures, and rental yield reads 9.45% at a $155,000 purchase. Equity gained on principal adds $1,000/yr, and 5% annual appreciation supports $42,824 over five years. Five-year ROI reaches 139.04% and total cumulative return in cash sums $71,440. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,221/mo property income instead of your personal income.

Single Family

Built in 1923

5,662 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to 1515 Franklin Street, a charming 1923 bungalow with two bedrooms and one bathroom. This home features a welcoming covered front porch, a spacious two-car detached garage, and a fully unfinished basement that offers plenty of storage opportunities. Much of the interior has been opened up and prepared for renovation, giving the next owner a head start to bring their vision to life. Large windows fill the home with natural light, and the layout includes space for both a formal dining room and a front living area. The original character of the home remains, complemented by a new furnace and AC, making it the perfect canvas for restoration and personalization.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47905, Lafayette, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,630 (100%)
Owner Occupied HU	10,991 (56.0%)
Renter Occupied HU	7,333 (37.4%)
Vacant Housing Units	1,306 ( 6.7%)
Median Home Value	$254,797
Average Home Value	$312,191