2406 Broad St, New Castle, IN, 47362 | $630/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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2406 Broad St, New Castle, IN, 47362 | $630/mo Cash Flow | Ziffy

For Sale

Fix & Flip

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in New Castle at 2406 Broad St, New Castle, IN, 47362 generates $1,590/mo in rent and, after a $783/mo payment, leaves $630/mo in cash flow. Total monthly income is $1,590/mo, and annual cash flow is $7,556/yr on $53,038 invested. Return on cash invested sits at 34.16% in year one, and rental yield is 11.93% on a $159,995 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation builds toward $44,204 over five years. Five-year ROI reaches 179.03% and total cumulative return in cash sums $94,956. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,590/mo property income rather than buyer’s personal income.

Single Family

Built in 1920

5,662 sqft lot

$N/A/sqft

No HOA

More details about the property

This charming New Castle home offers incredible potential just minutes from the vibrant downtown district, where local shops, parks, community events, and small-town charm make everyday life feel connected and convenient. Inside, you'll find three bedrooms plus a large unfinished attic that could easily be transformed into a spacious bonus room or fourth bedroom. The home is filled with natural light and features original hardwood floors ready to shine again with a little love. Enjoy the four season enclosed porch all year long. Major updates have already been handled, including a roof and furnace both less than 10 years old and a recently encapsulated, insulated crawlspace. Outside, enjoy a fully fenced backyard with a wood deck, perfect for relaxing or entertaining, along with a detached one-car garage. While the home could benefit from some cosmetic updates, it's the ideal canvas for a buyer with creativity and vision to bring out its full character and charm.