1606 N State St, Sullivan, IN, 47882 | $209/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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1606 N State St, Sullivan, IN, 47882 | $209/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 Sullivan at 1606 N State St, Sullivan, IN, 47882 offers a 8.68% rental yield on a $169,900 purchase with $1,229/mo rent. Total monthly income registers $1,229/mo, and a $832/mo payment leaves $209/mo available for distribution. Annual cash flow reaches $2,504/yr on $56,322 to close, and return on cash invested stands at 24.36% in year one. Equity gained on principal adds $1,096/yr while 5% annual appreciation supports $46,940 over five years. Portfolio math shows five-year ROI at 126.48% and total cumulative return in cash at $71,234. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,229/mo property income against a $832/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1920

0.60 Acres lot

$N/A/sqft

No HOA

More details about the property

Beautiful two-bedroom, two-bath home with an office/den, offering 1,904 square feet of living space. The open-concept design includes a spacious living room, dining area, and kitchen with a large island, water filter at the sink, tile backsplash, and a large pantry. Both bedrooms feature large walk-in closets. The exterior offers a fenced backyard with a covered patio, plus an additional patio with a covered pergolaperfect for relaxing or entertaining. A detached garage adds convenience. The property includes four lots, two of which are across the street, providing ample space for a large garden or additional parking. This home was completely remodeled from the floor joists up between 20132017, giving it modern updates and lasting quality throughout.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47882, Sullivan, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,005 (100%)
Owner Occupied HU	2,488 (62.1%)
Renter Occupied HU	1,083 (27.0%)
Vacant Housing Units	434 (10.8%)
Median Home Value	$146,466
Average Home Value	$177,709