223 N Canal StSpencervilleOH45887
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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
Rental property for sale in Spencerville at 223 N Canal St, Spencerville, OH, 45887 priced at $115,000 converts $904/mo rent into $147/mo cash flow after a $563/mo obligation. Total monthly income equals $904/mo, and annual cash flow totals $1,769/yr on $38,123 invested. Return on cash invested prints 24.55% in year one, and rental yield reads 9.43% against a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation compiles into $31,772 by year five. Five-year ROI reaches 128.3% and total cumulative return in cash sums $48,909. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $904/mo property income covering a $563/mo payment, not borrower’s personal income.
Single Family
Built in 1920
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 45887, Spencerville, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,955 (100%) |
| Owner Occupied HU | 1,484 (75.9%) |
| Renter Occupied HU | 338 (17.3%) |
| Vacant Housing Units | 133 ( 6.8%) |
| Median Home Value | $225,414 |
| Average Home Value | $282,835 |
Housing Distribution
Address Breakdown
Residential
1,831
Single Family
1,794
Multi-Family
37
Businesses
104
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