214 Folkston WayLafayetteIN47905
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 214 Folkston Way, Lafayette, IN, 47905 in Lafayette worth modelling. At $349,900 with a 7.46% gross yield, the $2,176/mo rent leaves $55/mo after the $1,573/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.38 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $96,671 by year five; $3,223/yr in principal reduction adds further equity. Total projected return: $136,066.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.5% | 4.2% |
| Monthly Cash Flow | $55 | $850 |
City averages based on Lafayette market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,176 |
| Total Monthly Debt Service | $1,982 |
| DSCR Ratio | 1.10x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2022
7,840 sqft lot
$N/A/sqft
$250 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47905, Lafayette, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,630 (100%) |
| Owner Occupied HU | 10,991 (56.0%) |
| Renter Occupied HU | 7,333 (37.4%) |
| Vacant Housing Units | 1,306 ( 6.7%) |
| Median Home Value | $254,797 |
| Average Home Value | $312,191 |
Housing Distribution
Address Breakdown
Residential
18,720
Single Family
15,750
Multi-Family
2,970
Businesses
1,408
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 2022
7,840 sqft lot
$N/A/sqft
$250 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47905, Lafayette, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,630 (100%) |
| Owner Occupied HU | 10,991 (56.0%) |
| Renter Occupied HU | 7,333 (37.4%) |
| Vacant Housing Units | 1,306 ( 6.7%) |
| Median Home Value | $254,797 |
| Average Home Value | $312,191 |
Housing Distribution
Address Breakdown
Residential
18,720
Single Family
15,750
Multi-Family
2,970
Businesses
1,408
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sherry Cole • Keller Williams Lafayette
Mls Name: IRMLS
Mls Provider:
Mls ID: #202511846
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.