223 W 9th StLapelIN46051
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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 Lapel at 223 W 9th St, Lapel, IN, 46051 uses $99,351 cash to close to unlock $4,318/yr annual cash flow and $360/mo monthly cash flow. Total monthly income runs $2,159/mo, and a $1,467/mo payment keeps the spread at $360/mo. Purchase price stands at $299,700, and rental yield measures 8.64% with $2,159/mo rent. Return on cash invested shows 24.26% in year one, and 5% annual appreciation builds toward $82,802 over five years. Five-year ROI reaches 125.92% and total cumulative return in cash records $125,102. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,159/mo property income covering a $1,467/mo payment rather than investor’s personal income.
Single Family
Built in 1947
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46051, Lapel, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,213 (100%) |
| Owner Occupied HU | 900 (74.2%) |
| Renter Occupied HU | 233 (19.2%) |
| Vacant Housing Units | 80 ( 6.6%) |
| Median Home Value | $202,358 |
| Average Home Value | $233,233 |
Housing Distribution
Address Breakdown
Residential
840
Single Family
840
Multi-Family
0
Businesses
102
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