16067 Covington PkwyGrangerIN46530
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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 Granger at 16067 Covington Pkwy, Granger, IN, 46530 generates $3,406/mo in rent and, after a $2,442/mo payment, leaves $77/mo in cash flow. Total monthly income is $3,406/mo, and annual cash flow is $927/yr on $165,419 invested. Return on cash invested sits at 20.47% in year one, and rental yield is 8.19% on a $499,000 entry. Equity gained on principal adds $3,220/yr, while 5% annual appreciation builds toward $137,865 over five years. Five-year ROI reaches 106.49% and total cumulative return in cash sums $176,154. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,406/mo property income rather than buyer’s personal income.
Condo
Built in 1984
0.48 Acres lot
$N/A/sqft
$285 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46530, Granger, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,467 (100%) |
| Owner Occupied HU | 10,079 (80.8%) |
| Renter Occupied HU | 1,813 (14.5%) |
| Vacant Housing Units | 575 ( 4.6%) |
| Median Home Value | $318,617 |
| Average Home Value | $362,554 |
Housing Distribution
Address Breakdown
Residential
12,208
Single Family
11,173
Multi-Family
1,035
Businesses
834
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Listed by: Jan Lazzara • RE/MAX 100
Mls Name: IRMLS
Mls Provider:
Mls ID: #202537829
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.