213 Fletcher Ave, Spencer, IN, 47460 | Equity Gain $1,677/yr

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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213 Fletcher Ave, Spencer, IN, 47460 | Equity Gain $1,677/yr | 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

Rental property for sale in Spencer at 213 Fletcher Ave, Spencer, IN, 47460 generates $0/mo in rent, after a $1,272/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -1.82% in year one, and rental yield is 0% on a $259,900 entry. Equity gained on principal adds $1,677/yr, while 5% annual appreciation builds toward $71,806 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $0/mo property income rather than buyer’s personal income.

Single Family

Built in 1920

7,840 sqft lot

$N/A/sqft

No HOA

More details about the property

This home has it all...charm, character, large asphalt parking lot, with prime location. The front showcases mature shrubs, a sidewalk, & a ramp leading up to the covered porch. When entering the home prepare to fall in love with the original character - such as original built in shelving, arched entryways adding neat features and the light sconces in the living room. There are lots of windows throughout allowing natural light in every room. Kitchen has a great layout & plenty of cabinets for storage, there is a separate entrance located off the kitchen with easy access to the ramp. The two bedrooms are on the main level. The bathroom offers a good amount of space and some neat features. Upstairs can be used as a bedroom or your own little getaway spot. This space has seating in the dormer windows adding a cozy touch. The laundry area & tons of additional storage are in the basement. Located conveniently with access to main highway to I-69, I-70, Spencer's amenities & other nearby towns.

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