2236 Calaveras WayIndianapolisIN46240
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 2236 Calaveras Way, Indianapolis, IN, 46240 in Indianapolis is the 1.61 coverage ratio: rent of $1,917/mo versus a $1,192/mo debt payment on a $265,000 property. Rental yield 8.43%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $73,215 by year five, with $2,441/yr in equity from paydown. Total projected cumulative return: $92,359.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 6.8% |
| Monthly Cash Flow | $(211) | $450 |
City averages based on Indianapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,917 |
| Total Monthly Debt Service | $1,968 |
| DSCR Ratio | 0.97x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1987
2,178 sqft lot
$N/A/sqft
$420 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46240, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,313 (100%) |
| Owner Occupied HU | 4,833 (39.3%) |
| Renter Occupied HU | 5,655 (45.9%) |
| Vacant Housing Units | 1,825 (14.8%) |
| Median Home Value | $355,378 |
| Average Home Value | $432,769 |
Housing Distribution
Address Breakdown
Residential
11,010
Single Family
6,951
Multi-Family
4,059
Businesses
1,461
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
Condo
Built in 1987
2,178 sqft lot
$N/A/sqft
$420 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46240, Indianapolis, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,313 (100%) |
| Owner Occupied HU | 4,833 (39.3%) |
| Renter Occupied HU | 5,655 (45.9%) |
| Vacant Housing Units | 1,825 (14.8%) |
| Median Home Value | $355,378 |
| Average Home Value | $432,769 |
Housing Distribution
Address Breakdown
Residential
11,010
Single Family
6,951
Multi-Family
4,059
Businesses
1,461
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jason DeArman • Compass Indiana, LLC
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22035643
Disclaimer: Based on information submitted to the MLS GRID as of 2025-05-01 08:18:01 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)