15253 Spring Creek DrCovingtonIN47932
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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 Covington at 15253 Spring Creek Dr, Covington, IN, 47932 generates $3,188/mo in rent and, after a $2,080/mo payment, leaves $637/mo in cash flow. Total monthly income is $3,188/mo, and annual cash flow is $7,644/yr on $140,888 invested. Return on cash invested sits at 25.33% in year one, and rental yield is 9% on a $425,000 entry. Equity gained on principal adds $2,742/yr, while 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 131.68% and total cumulative return in cash sums $185,525. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,188/mo property income rather than buyer’s personal income.
Single Family
Built in 2023
0.99 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47932, Covington, IN area.
Housing Distribution
Housing Statistics
| 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 |
Housing Distribution
Address Breakdown
Residential
2,405
Single Family
2,369
Multi-Family
36
Businesses
210
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