1616 Bundy Ave, New Castle, IN, 47362 | 4.97% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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1616 Bundy Ave, New Castle, IN, 47362 | 4.97% Rental Yield | 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

Rental property for sale in New Castle at 1616 Bundy Ave, New Castle, IN, 47362 generates $1,594/mo in rent, after a $1,884/mo payment. Total monthly income is $1,594/mo. Return on cash invested sits at 13.17% in year one, and rental yield is 4.97% on a $384,900 entry. Equity gained on principal adds $2,484/yr, while 5% annual appreciation builds toward $106,341 over five years. Five-year ROI reaches 66.48% and total cumulative return in cash sums $84,819. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,594/mo property income rather than buyer’s personal income.

Single Family

Built in 1954

0.51 Acres lot

$N/A/sqft

No HOA

More details about the property

This exceptional 4,000+ square foot home, constructed in 1954, exudes meticulous attention to detail. Comprising 3 bedrooms and 2 bathrooms, this property has undergone meticulous maintenance and boasts custom updates. The extensive landscaping features shrubs and flowers enclosed by terraced walls. The woodwork throughout the home is crafted from Philippine Mahogany. The custom kitchen, designed by Richards Kitchens & Baths of Muncie, incorporates custom Heritage cabinets from Pennsylvania, solid maple drawers, a Jenn-air range with interchangeable cooktops, Corian counters, and a pantry. The custom front porch and back patio, constructed with brick and cedar, provide an idyllic setting to enjoy the surrounding landscape. A foundation was poured for the back patio in anticipation of future owners who may wish to enclose the space. The main-floor bathroom is striking, also designed by Richards, it features natural stone flooring, a custom Corian shower, and DL Couch wall covering. The upstairs bedroom, completed in 2000, is well-insulated and equipped with its own separate heating system. The roof was replaced in 2017, and Trane A/C was installed in 2020. The massive & completely dry basement has historically served hobbyists including knife makers, gunsmiths, lapidarists & painters. Additionally, new garage doors openers were installed in 2021, and new carpet was installed in the lower level in 2025.