2856 Colony Lake East DrPlainfieldIN46168
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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
Rental property for sale in Plainfield at 2856 Colony Lake East Dr, Plainfield, IN, 46168 priced at $294,500 converts $1,253/mo rent into after a $1,441/mo obligation. Total monthly income equals $1,253/mo. Return on cash invested prints 11.19% in year one, and rental yield reads 5.11% against a $294,500 entry. Equity gained on principal adds $1,900/yr, while 5% annual appreciation compiles into $81,365 by year five. Five-year ROI reaches 56.72% and total cumulative return in cash sums $55,369. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,253/mo property income covering a $1,441/mo payment, not borrower’s personal income.
Condo
Built in 1996
5,662 sqft lot
$N/A/sqft
$195 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46168, Plainfield, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,473 (100%) |
| Owner Occupied HU | 10,797 (65.5%) |
| Renter Occupied HU | 4,993 (30.3%) |
| Vacant Housing Units | 683 ( 4.1%) |
| Median Home Value | $287,004 |
| Average Home Value | $304,001 |
Housing Distribution
Address Breakdown
Residential
16,117
Single Family
14,534
Multi-Family
1,583
Businesses
1,370
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Listed by: Becky Smith • eXp Realty, LLC
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22030510
Disclaimer: Based on information submitted to the MLS GRID as of 2025-04-04 08:27:59 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)