3009 Van Bibber Lake EstGreencastleIN46135
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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 Greencastle at 3009 Van Bibber Lake Est, Greencastle, IN, 46135 generates $1,498/mo in rent and, after a $1,027/mo payment, leaves $238/mo in cash flow. Total monthly income is $1,498/mo, and annual cash flow is $2,860/yr on $69,582 invested. Return on cash invested sits at 24.02% in year one, and rental yield is 8.56% on a $209,900 entry. Equity gained on principal adds $1,354/yr, while 5% annual appreciation builds toward $57,992 over five years. Five-year ROI reaches 124.68% and total cumulative return in cash sums $86,756. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,498/mo property income rather than buyer’s personal income.
Manufactured
Built in 1970
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46135, Greencastle, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,718 (100%) |
| Owner Occupied HU | 4,723 (61.2%) |
| Renter Occupied HU | 2,134 (27.6%) |
| Vacant Housing Units | 861 (11.2%) |
| Median Home Value | $218,134 |
| Average Home Value | $263,076 |
Housing Distribution
Address Breakdown
Residential
7,144
Single Family
6,852
Multi-Family
292
Businesses
650
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Listed by: Zachary Nichols • RE/MAX Cornerstone
Mls Name: MIBOR as distributed by MLS GRID
Mls ID: #22053029