1616 Old State Road 60 WSalemIN47167
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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 Salem at 1616 Old State Road 60 W, Salem, IN, 47167 generates $1,472/mo in rent and, after a $783/mo payment, leaves $512/mo in cash flow. Total monthly income is $1,472/mo, and annual cash flow is $6,140/yr on $53,040 invested. Return on cash invested sits at 31.48% in year one, and rental yield is 11.04% on a $160,000 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation builds toward $44,205 over five years. Five-year ROI reaches 164.71% and total cumulative return in cash sums $87,362. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,472/mo property income rather than buyer’s personal income.
Single Family
Built in 1915
0.56 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47167, Salem, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,825 (100%) |
| Owner Occupied HU | 4,832 (70.8%) |
| Renter Occupied HU | 1,431 (21.0%) |
| Vacant Housing Units | 562 ( 8.2%) |
| Median Home Value | $184,381 |
| Average Home Value | $231,011 |
Housing Distribution
Address Breakdown
Residential
6,703
Single Family
6,562
Multi-Family
141
Businesses
505
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Listed by: Drew Wyant • 1 Percent Lists Indiana Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202523750
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.