1845 S Us Highway 231, Spencer, IN, 47460 | 7.02% Rental Yield

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Monthly Cash Flow: 1 - 3k+

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1845 S Us Highway 231, Spencer, IN, 47460 | 7.02% 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

Investment property for sale in Spencer at 1845 S Us Highway 231, Spencer, IN, 47460 listed at $394,900 pairs $2,310/mo rent with a $1,933/mo payment. Total monthly income runs $2,310/mo. Return on cash invested measures 19.35% in year one, and rental yield registers 7.02% at a $394,900 basis. Equity gained on principal adds $2,548/yr, and annual property appreciation at 5% supports $109,104 by year five. Five-year ROI tracks 99.64% and total cumulative return in cash totals $130,439. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,310/mo property income relative to a $1,933/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1948

3.73 Acres lot

$N/A/sqft

No HOA

More details about the property

Remodeled home on 3.731 acres. This home has been renovated inside and out. Large eat-in kitchen with island, tons of cabinetry and new stainless appliances, 2 bedrooms on main level, with one being primary bedroom suite, laundry on main, living room goes out onto covered front porch, TV room on upper level that would also make for nice guest bedroom space. The dry basement could be finished out and offers a third bedroom area. 28x24 detached garage and a second detached garage 14x38 that would make for great storage for motor home or boat with the extra overhead door height. Plenty of space for garden, recreation and possible extra build site. Located just a couple of miles out of town.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,190 (100%)
Owner Occupied HU	3,784 (72.9%)
Renter Occupied HU	949 (18.3%)
Vacant Housing Units	457 ( 8.8%)
Median Home Value	$187,057
Average Home Value	$214,772