1630 W Spring StCovingtonIN47932
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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 1630 W Spring St, Covington, IN, 47932 priced at $163,000 converts $1,282/mo rent into $303/mo cash flow after a $798/mo obligation. Total monthly income equals $1,282/mo, and annual cash flow totals $3,640/yr on $54,035 invested. Return on cash invested prints 26.65% in year one, and rental yield reads 9.44% against a $163,000 entry. Equity gained on principal adds $1,052/yr, while 5% annual appreciation compiles into $45,034 by year five. Five-year ROI reaches 138.77% and total cumulative return in cash sums $74,983. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,282/mo property income covering a $798/mo payment, not borrower’s personal income.
Single Family
Built in 1975
0.53 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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Listed by: Stephanie McKinley • Raeco Realty
Mls Name: IRMLS
Mls Provider:
Mls ID: #202333424
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.