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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Lapel at 227 W 7th St, Lapel, IN, 46051 generates $1,759/mo in rent and, after a $1,077/mo payment, leaves $438/mo in cash flow. Total monthly income is $1,759/mo, and annual cash flow is $5,258/yr on $72,930 invested. Return on cash invested sits at 27.12% in year one, and rental yield is 9.59% on a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 141.31% and total cumulative return in cash sums $103,055. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,759/mo property income rather than buyer’s personal income.
Single Family
Built in 1946
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 46051, Lapel, IN area.
| 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 |
Residential
840
Single Family
840
Multi-Family
0
Businesses
102
Date | Event | Price |
|---|---|---|
| 2025-09-02 | Listed for sale | $220,000 |
| 2025-09-01 | Listing removed | $220,000 |
| 2025-08-17 | Price change | $220,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-09-04 | $230.00 | -74.04% | $12,100 | 5.22% |
| 2023-09-04 | $886.00 | 6.75% | $11,500 | -74.04% |
| 2022-09-04 | $830.00 | 4.53% | $44,300 | 6.75% |
What's Special
Access Only
Listed by: Heather Upton • Keller Williams Indy Metro NE
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22060219
Disclaimer: Based on information submitted to the MLS GRID as of 2025-09-04 08:02:59 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)
