216 Smith LaneHanoverIN47243
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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 Hanover at 216 Smith Lane, Hanover, IN, 47243 with 5% annual appreciation on a $265,000 basis while $2,609/mo rent supports operations. Total monthly income totals $2,609/mo and a $1,297/mo payment preserves $1,018/mo for cash returns. Annual cash flow comes to $12,219/yr on $87,848 deployed, and return on cash invested reaches 33.82% in year one. Equity gained on principal adds $1,710/yr, and five-year appreciation sums $73,215 alongside rental yield of 11.81%. Five-year ROI measures 177.23% and total cumulative return in cash totals $155,691.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,609/mo property income versus a $1,297/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1975
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47243, Hanover, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,377 (100%) |
| Owner Occupied HU | 1,473 (62.0%) |
| Renter Occupied HU | 636 (26.8%) |
| Vacant Housing Units | 268 (11.3%) |
| Median Home Value | $218,782 |
| Average Home Value | $242,566 |
Housing Distribution
Address Breakdown
Residential
2,184
Single Family
2,153
Multi-Family
31
Businesses
96
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