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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 Spencer at 2448 River Rd, Spencer, IN, 47460 offers $1,490/mo rent that, after a $1,174/mo payment. Total monthly income is $1,490/mo. Return on cash invested measures 19.04% in year one, and rental yield stands at 7.45% at a $239,900 entry. Equity gained on principal adds $1,548/yr while 5% annual appreciation compounds into $66,280 by year five. Five-year ROI records 98.56% and total cumulative return in cash reaches $78,379. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,490/mo property income versus a $1,174/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
3.69 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,190 (100%) |
| Owner Occupied HU | 3,784 (72.9%) |
| Renter Occupied HU | 949 (18.3%) |
| Vacant Housing Units | 457 ( 8.8%) |
| Median Home Value | $187,057 |
| Average Home Value | $214,772 |
Residential
4,901
Single Family
4,899
Multi-Family
2
Businesses
417
Date | Event | Price |
|---|---|---|
| 2025-03-26 | Price change | $239,900 |
| 2024-04-21 | Listed for sale | $265,000 |
| 2022-07-10 | Listing removed | $325,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-03-27 | $3285.82 | 1.60% | $226,100 | 5.21% |
| 2023-03-27 | $3234.04 | -3.79% | $214,900 | 8.65% |
| 2022-03-27 | $3361.36 | 11.88% | $197,800 | 8.03% |
Listed by: Christina Root • Hawkins & Root Real Estate
Mls Name: IRMLS
Mls Provider:
Mls ID: #202509933
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
