2984 Patricksburg RdSpencerIN47460
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 2984 Patricksburg Rd, Spencer, IN, 47460 in Spencer. At $309,000 it earns $2,364/mo in rent and distributes $509/mo to the owner after the $1,465/mo payment, a consistent 9.18% yield. DSCR 1.61 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $85,371 in value; $2,590/yr in principal paydown compounds ownership stake. Total projected return: $143,882.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 6.0% |
| Monthly Cash Flow | $509 | $1,000 |
City averages based on Spencer market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,364 |
| Total Monthly Debt Service | $1,807 |
| DSCR Ratio | 1.31x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1976
2.56 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47460, Spencer, IN area.
Housing Distribution
Housing Statistics
| 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 |
Housing Distribution
Address Breakdown
Residential
4,901
Single Family
4,899
Multi-Family
2
Businesses
417
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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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