1523 E Mills AveIndianapolisIN46227
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment property for sale in Indianapolis at 1523 E Mills Ave, Indianapolis, IN, 46227 uses $72,930 cash to close to unlock $1,970/yr annual cash flow and $164/mo monthly cash flow. Total monthly income runs $1,485/mo, and a $1,077/mo payment keeps the spread at $164/mo. Purchase price stands at $220,000, and rental yield measures 8.1% with $1,485/mo rent. Return on cash invested shows 22.61% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 117.14% and total cumulative return in cash records $85,427. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,485/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Single Family
Built in 1928
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46227, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,281 (100%) |
| Owner Occupied HU | 11,170 (42.5%) |
| Renter Occupied HU | 13,020 (49.5%) |
| Vacant Housing Units | 2,091 ( 8.0%) |
| Median Home Value | $234,494 |
| Average Home Value | $260,259 |
Housing Distribution
Address Breakdown
Residential
25,018
Single Family
19,504
Multi-Family
5,514
Businesses
1,399
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Evan Cast • Mark Dietel Realty, LLC
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22039311