218 E Mercer StSpicelandIN47385
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayYield and appreciation often trade off, and at 218 E Mercer St, Spiceland, IN, 47385 in Spiceland the bet is firmly on appreciation. Rental yield 0%. The 0% gross yield on a $299,000 price is below income-first thresholds, but 5%/yr value growth projects $82,608 in equity by year five. Ziffy Mortgage's non-U.S. DSCR mortgage (0.00) finances the acquisition on rental income alone. A larger down payment (30–35%) reduces monthly debt service and tightens the spread.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 0% | 6.0% |
| Monthly Cash Flow | $0 | $300 |
City averages based on Spiceland market data in our database. Property projections are estimates.
Single Family
Built in 1974
1.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47385, Spiceland, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 762 (100%) |
| Owner Occupied HU | 572 (75.1%) |
| Renter Occupied HU | 140 (18.4%) |
| Vacant Housing Units | 50 ( 6.6%) |
| Median Home Value | $212,626 |
| Average Home Value | $316,888 |
Housing Distribution
Address Breakdown
Residential
355
Single Family
355
Multi-Family
0
Businesses
40
Nearby investment properties with comparable rents
No similar rental properties found nearby.
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 1974
1.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47385, Spiceland, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 762 (100%) |
| Owner Occupied HU | 572 (75.1%) |
| Renter Occupied HU | 140 (18.4%) |
| Vacant Housing Units | 50 ( 6.6%) |
| Median Home Value | $212,626 |
| Average Home Value | $316,888 |
Housing Distribution
Address Breakdown
Residential
355
Single Family
355
Multi-Family
0
Businesses
40
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices