1631 Terrace DrMount VernonIN47620
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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
Investment property for sale in Mount Vernon at 1631 Terrace Dr, Mount Vernon, IN, 47620 offers a 10.55% rental yield on a $225,000 purchase with $1,979/mo rent. Total monthly income registers $1,979/mo, and a $1,101/mo payment leaves $629/mo available for distribution. Annual cash flow reaches $7,543/yr on $74,588 to close, and return on cash invested stands at 30.02% in year one. Equity gained on principal adds $1,452/yr while 5% annual appreciation supports $62,163 over five years. Portfolio math shows five-year ROI at 156.84% and total cumulative return in cash at $116,985. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,979/mo property income against a $1,101/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1973
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47620, Mount Vernon, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,740 (100%) |
| Owner Occupied HU | 4,069 (70.9%) |
| Renter Occupied HU | 1,198 (20.9%) |
| Vacant Housing Units | 473 ( 8.2%) |
| Median Home Value | $238,289 |
| Average Home Value | $269,466 |
Housing Distribution
Address Breakdown
Residential
5,545
Single Family
5,366
Multi-Family
179
Businesses
375
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Listed by: Tom Dutkiewicz • William Wilson Auction-Realty, Inc
Mls Name: My State MLS
Mls ID: #11614755