1880 State Road 60 EMitchellIN47446
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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 Mitchell at 1880 State Road 60 E, Mitchell, IN, 47446 uses $61,328 cash to close to unlock $5,028/yr annual cash flow and $419/mo monthly cash flow. Total monthly income runs $1,529/mo, and a $905/mo payment keeps the spread at $419/mo. Purchase price stands at $185,000, and rental yield measures 9.92% with $1,529/mo rent. Return on cash invested shows 28.11% in year one, and 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 146.56% and total cumulative return in cash records $89,883. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,529/mo property income covering a $905/mo payment rather than investor’s personal income.
Single Family
Built in 1968
0.69 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47446, Mitchell, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,285 (100%) |
| Owner Occupied HU | 3,046 (71.1%) |
| Renter Occupied HU | 767 (17.9%) |
| Vacant Housing Units | 472 (11.0%) |
| Median Home Value | $180,587 |
| Average Home Value | $220,742 |
Housing Distribution
Address Breakdown
Residential
4,131
Single Family
4,075
Multi-Family
56
Businesses
276
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