1738 W Morris St, Indianapolis, IN, 46221 | $228/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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1738 W Morris St, Indianapolis, IN, 46221 | $228/mo Cash Flow | 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

Investment property for sale in Indianapolis at 1738 W Morris St, Indianapolis, IN, 46221 earns $228/mo cash flow from $1,789/mo rent with a $1,273/mo payment. Total monthly income totals $1,789/mo, and annual cash flow totals $2,734/yr on $86,190 capital. ROI tracks 23.08% on current figures, and rental yield reads 8.26% at a $260,000 purchase. Equity gained on principal adds $1,678/yr, and 5% annual appreciation supports $71,833 over five years. Five-year ROI reaches 119.6% and total cumulative return in cash sums $103,085. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,789/mo property income instead of your personal income.

Multi Family

Built in 1900

6,098 sqft lot

$N/A/sqft

No HOA

More details about the property

Updated duplex has lots of possibilities for your buyer; live in one side and rent the other, rent both sides or make good money using for short term rental. Units are mirror image of each other with a few differences: 1738 has enclosed front and back porches; 1740 has storage under the stairs and 1738 has a niche in that area; kitchens are configured differently. There is an option to open doors between the units so create a pass through to connect the units. All appliances remain on both sides including washer and dryer. Current owner uses the detached garage for storage. Currently being used as a short term rental with $36K revenue in 2024; the race in May and Gencon in August are big events. Big benefits of having an Airbnb near downtown. Roof is new this year! Other recent updates include windows, insulation, flooring. Furnishings are negotiable.

Neighborhood Data

Neighborhood data shown for ZIP Code: 46221, Indianapolis, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,205 (100%)
Owner Occupied HU	6,485 (57.9%)
Renter Occupied HU	3,906 (34.9%)
Vacant Housing Units	814 ( 7.3%)
Median Home Value	$209,976
Average Home Value	$214,246