1940 W Railroad St, New Castle, IN, 47362 | 6.7% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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1940 W Railroad St, New Castle, IN, 47362 | 6.7% 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

Total monthly income runs $1,592/mo, and a $1,395/mo payment. Purchase price stands at $285,000, and rental yield measures 6.7% with $1,592/mo rent. Return on cash invested shows 18.4% in year one, and 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 94.54% and total cumulative return in cash records $89,322. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,592/mo property income covering a $1,395/mo payment rather than investor’s personal income.

Single Family

Built in 1905

1.30 Acres lot

$N/A/sqft

No HOA

More details about the property

This craftsman-inspired home offers timeless charm and modern updates on a scenic 1.3-acre lot that feels like your own private retreat. Nestled among lush, wooded trails that lead to the back of the property, the setting provides both seclusion and direct access to Westwood Golf Course. The home features an open, spacious floor plan with two large living spaces, a flexible bonus room, dining area, and two full baths. Hardwood floors, a large entry, and vaulted ceilings create a warm yet airy feel. The remodeled kitchen is a centerpiece with custom island, abundant counter space, eat-in bar, and ample cabinetryall appliances, including washer and dryer, remain with the sale. The primary suite offers a generous walk-in closet and ensuite bath, while the back portion of the home showcases soaring ceilings, multiple rooms for flexible use (bedroom, office, or in-law suite), and an enclosed porch. Outdoor living is equally inviting with a large covered front porch, open patio, and expansive backyard designed for privacy and entertaining. Storage and hobby needs are well covered with both an attached 1.5-car garage and a detached 2+ car garage with openerperfect for a workshop, sports car storage, or extra equipment. Every detail of this well-maintained property reflects thoughtful design and care. Custom window treatments, tasteful updates, and a beautifully landscaped setting complete the picture. Inside and out, this home offers a unique blend of comfort, functionality, and natural beauty.